VTB is counting on additional capitalization this year, although its volume is not yet clear, said Andrey Kostin, head of the state bank. Earlier, VTB was under US blocking sanctions. According to Kostin, other banks will also need additional capitalization.
Andrey Kostin (on screen)
(Photo: Andrey Lyubimov / RBC)
VTB, like other banks, may need additional capitalization this year, Andrey Kostin, head of the credit organization, told reporters. He noted that it is too early to talk about the amount and sources of capital replenishment.
“I don’t know where the additional capitalization will come from, but, of course, there will be additional capitalization. Not only VTB, but also, I think, more broadly – the banking sector. It is too early to talk about it now, I think that during the year the dynamics of these processes will be clear, of course, we expect losses in the banking sector. But I would not talk about any specific figures now, ”said the top manager (quote from Interfax).
Earlier it became known that the head of VTB and the president of Sberbank German Gref sent a letter to the government in mid-March with estimates of how much the largest banks would lose due to participation in various state support programs. Possible losses of VTB were estimated at 217 billion rubles. The same letter mentioned what losses the Central Bank predicts for the entire sector: we are talking about 3.5-5.8 trillion rubles. without taking into account the negative revaluation of securities (its size is estimated at about another 2 trillion rubles).
On February 21, Russia recognized the independence of the DPR and LPR, and since February 24, it has been conducting a military operation in Ukraine. In response, the authorities of Western countries have imposed tough sanctions, including against large banks. VTB was included in the US SDN list, which means the blocking of dollar assets and the ban on transactions in dollars. He also ended up on the sanctions lists of the European Union, Great Britain, Canada and Japan and was disconnected from the SWIFT system. Kostin, in an interview with RBC TV, said that VTB managed to largely adapt to the new conditions, although it did not go without losses. He did not give their volume.