19 Jun 2014 20:30

Bank of England has lifted most demands against VTB subsidiary

ST. PETERSBURG. June 19 (Interfax) - The Bank of England has lifted most of the additional regulatory demands that were imposed against its UK subsidiary, Herbert Moos, VTB deputy CEO, said during the bank's annual shareholders meeting.

"The Bank of England relaxed its demands considerably after the Ukrainian president was elected," he said, adding that most of the requirements had already been lifted.

VTB is now in constructive dialog with the UK regulator and is not under pressure from local regulators in other countries where it has a presence, Moos said.