VTB outraged exposure

September 10, Monday, the site CIR, the structural unit of Henry Jackson Society, there was a report, "expose", VTB. Co-author of the document was made by the well-known Alexei Navalny. In particular, the document deals with the management of the bank questionable decisions in recent years.

The document's authors pay attention to the story of the purchase of "Bank of Moscow" structural units of VTB Group, namely to repurchase its own shares from minority state-owned bank, what was installed during the IPO in 2007. Also draws attention to the scandal that has arisen around the acquisition of drilling rigs between New Urengoy and Orenburg. According to Navalny, units were purchased at artificially inflated prices, which resulted in theft of 152 million dollars.

Citing unnamed sources, the paper stated that the key decisions in the bank accepts president Andrei Kostin, and introduces them to his deputy Yuri Soloviev. Authors of the report also urged investors putting money into VTB closer look questionable solutions managers. Recall that VTB 75.5% state-owned. Everything else, Henry Jackson Society is concerned about the fact that the penetration of the VTB Group for the financial market in Europe can create euroregion serious potential risks.

According to Reuters, Monday, 11 September, VTB reacted to a document accusing the CIR and the Fund Alexei Navalny in spreading "false, unfounded and biased allegations." Leading experts considered the document "amateurish, drawn up by people poorly versed in the banking business."

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