VTB 24 not planning to participate in recapitalization via OFZ
MOSCOW. Feb 12 (Interfax) - VTB 24 does not plan to take part in the program for recapitalizing via federal loan bonds (OFZ), CEO Mikhail Zadornov told journalists.
"We do not plan to use OFZ resources. Perhaps the overall group may make use of the capital," he said.
Capital adequacy stood at 11.85% as of February 1, well above the statutory minimum level of 10%, Zadornov said.
"We have good earnings last year, from the standpoint of the business plan this year, we will not need OFZ resources," he said.
"VTB 24 does not need OFZ in 2015," he said.
The board of directors of the Deposit Insurance Agency (DIA) approved the list of banks that the state may recapitalize using OFZ at the end of January. Of the 830 billion rubles allocated in the form of OFZ, VTB accounts for 192.8 billion rubles (and another 65.8 billion rubles and 48.8 billion rubles for VTB 24 and Bank of Moscow respectively, which are part of the VTB group), Gazprombank for 125.7 billion rubles and Russian Agricultural Bank (RusAg) for 68.8 billion rubles.