We would like to clarify VTB’s position regarding its European
Some media misinterpreted Mr. Kostin’s comments in his interview for a Russian news agency. In fact, he said that in its European operations VTB plans to conduct its activities through a
This type of scheme has previously been approved by ECB and fully adheres to EU’s regulations. Mr. Kostin did not mean that ECB has already granted final approval to VTB to get the single license.