CEO: Russia’s VEB may sell Sviaz-Bank, Globexbank in 2017

YEKATERINBURG, Jul 13 (PRIME) -- Russia’s Vnesheconombank (VEB) may sell its banking affiliates Sviaz-Bank and Globexbank already in 2017, CEO of VEB Sergei Gorkov told PRIME in an interview released on Wednesday.

“We have a decision of the supervisory board but it will take some time nevertheless. That is why we are at an early stage of the process,” Gorkov said. “Maybe, they will (be sold in 2017). We have already begun but anyway, these deals are quite serious and time-consuming.”

VEB is ready to discuss the future deals with a wide circle of investors, according to Gorkov.

Gorkov said in late June that several investors are interested in purchasing Globexbank and Sviaz-Bank but VEB can sell the assets to a single investor as well. The capital of the two banks will be increased before the sale, he said.

The new VEB strategy does not envisage a sale of all non-core assets, the CEO said. “We do not see sale of profitable assets as a goal.”

End