28 Jan 2010 10:00

VEB sees no need for recapitalization

DAVOS. Jan 28 (Interfax) - Vnesheconombank (VEB) does not currently need additional capital, the Russian state bank's chief, Vladimir Dmitriyev, told reporters in Davos.

"We don't currently have the need that might have arisen due to our increased credit operations," he said.

VEB's capital is around 350 billion rubles, but its assets are approximately 3.5 trillion rubles, Dmitriyev said.

The Russian Finance Ministry in June last year injected 100 billion rubles into VEB's capital, pushing this up to 362.5 billion rubles at the time.