Wednesday, June 1, 2011

VTB Bank is concerned about the eccentricities of Moscow

Representatives of the largest state bank named a number of factors that cause them confusion regarding the activities of the Bank of Moscow. Thus, at a meeting with analysts, they noted their concerns that the government of Moscow are not actively monitors the credit organization, according to Vedomosti. How to calculate the state bank, now under the control of the city government are 46.5% stake in Bank of Moscow, has 17,3% - at "Capital Insurance Group." True, the latter belongs to the Moscow city government, the Bank of Moscow, as well as the company's Insurance Group. " VTB now wondering who controls the rest of the shares. In addition, the bank surprised that the auditor of the Bank of Moscow is neither one of four international companies. For example, now the bank is working with the BDO. In this case, the bank was too low level of arrears, which led the representatives of VTB in confusion. So, now it varies on the level of 4-5%, while the average market reaches 10.7%. Plus, Bank of Moscow was too dependent on urban resources as a result of his busy social functions. It is known that if the deal is still held, and VTB Bank will buy from the Moscow government, the percentage of his participation in it will be increased to 100%.

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