VTB banka Beograd continues its usual activities

VTB banka a.d. Beograd has announced it will continue to carry out its usual activities and meet the requests of its clients.

This announcement was released one day after the director of Russia's VTB Bank Andrei Kostin said the Bank was considering shutting down subsidiaries in Serbia, India and Vietnam.

As Itar-Tass reported, Kostic told a press conference in Moscow the following: "We're not planning to expand the activities of our daughter companies abroad, and we even intend to reduce them in certain countries. We are considering the possibility of shutting down the business in several locations, including Serbia, India and Vietnam. There are no plans to develop operations in western Europe".

VTB Bank is present in the market of Serbia since April 2013, when it acquired a 100-percent stake in Bank of Moscow Belgrade.