VTB continues to dialogue with the government

Terms of raising additional capital is discussing with the Government of VTB. This was reported by financial bank director Nicholas Tsekhomsky. "We are continuing dialogue with the government, and as VTB actively lends to the real sector, we are sure that we get state funds in various forms to support plans for lending," - he said. According to him, it is too early to talk about specifics, but as expectations for 2009 are negative, you need to create some kind of "cushion" for growth. "It may be an increase in Tier I capital, as it will be structured, too early to speak. Requires a decision by the government, "- he said, adding that if it is to issue additional shares, the bank will not have time to technically implement it in the first half. Currently the state owns 77.5% stake in VTB. According Tsekhomskaya, changing the ownership structure the result of an additional issue would not change the rights of minority shareholders, since none of them belongs to a blocking stake. Asked whether VTB change the level of dividends for 2008 (in 2007 the bank paid out in dividends 50% of net profit VTB ) Tsekhomsky noted that until this landmark is not me, but did not rule out that it will be corrected. Internal Regulations of the bank says that dividends should not be less than 10% of its net profits, "Interfax."