VTB Bank’s timely sale of RCB Bank stake raises questions

The new ownership structure is currently pending approval from the ECB

On February 24, the first wave of sanctions following Russia’s invasion of Ukraine hit a number of the country’s state-owned banks. On the same day, one of them, VTB Bank, sold all its shares in RCB Bank – Cyprus’s third-largest lender.

According to the latest annual report, VTB Bank – the second largest bank in Russia – owned a 46.29% stake in RCB Bank at the end of 2020. Two Cypriot groups, Crendaro Investment and Mitarva, owned 49.9% and 3.81%, respectively.

  !function(e,i,n,s){var t=

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here