VTB Bank Exits Georgia: What Lies Ahead for Armenia

VTB Bank is not planning to sell its branches operating abroad. In a conversation with Interfax, Andrey Kostin, the head of one of Russia's largest financial institutions, made this statement today.

"With the exception of one case, we are not selling our subsidiary banks. It is our principled approach to remain [in the market]. We are only leaving Georgia, but the situation there is somewhat different. In Azerbaijan, Armenia, Belarus, Kazakhstan, China, and India, we continue to operate and collaborate with national and local banks. The goal is to become a key bank in bilateral trade conducted in national currencies," Kostin stated, emphasizing that VTB sees serious business prospects in these listed countries.