VTB Africa shareholders vote to liquidate bank, waiting for decision of Angolan regulator

MOSCOW. May 22 (Interfax) - The shareholders of Banco VTB Africa voted at a general meeting to approve a decision to liquidate the bank, the press service of Russian state bank VTB told Interfax.

"Work is now being done with the regulator [the National Bank of Angola] to make the relevant decisions on the arrangements for working on the liquidation in accordance with the legislation of the Republic of Angola," VTB said.

VTB first deputy CEO Dmitry Pyanov said in February that the Angolan subsidiary's license was expected to be turned in this summer.

VTB previously owned 50.1% of Banco VTB Africa and the president of Angolan state company Endiama, Antonio Carlos Sumbula owned the other 49.9%.