FILE PHOTO: FILE PHOTO: The logo of VTB Group is seen through a window of Imperia Tower on the facade of the Federatsiya (Federation) Tower at the Moscow International Business Center also known as “Moskva-City”, in Moscow, Russia, in this August 5, 2015. REUTERS/Maxim Zmeyev/File Photo
March 6, 2022
(Reuters) – Russian bank VTB is preparing to wind down its European operations after being hit hard by Western sanctions, the Financial Times reported on Sunday.
VTB has an investment banking operation in London and a retail bank in Germany with 160,000 customers, but has decided it is unable to operate outside Russia after having its assets frozen by Western allies, the FT said, citing people with knowledge of internal discussions.
(Reporting by Juby Babu in Bengaluru. Editing by Jane Merriman)
Source: One America News Network
