VEB makes 30 bln rubles cash on stock market, could spend some on RUSAL shares
YALTA. Nov 20 (Interfax) - Vnesheconombank (VEB) has made 100 billion rubles profit from the 175 billion rubles in National Welfare Fund resources it received this time last year to invest in the Russian stock market, including 30 billion rubles cash, Deputy Prime Minister Alexei Kudrin, who is also the country's finance minister, told reporters.
"The 30 billion rubles isn't just the capitalization of securities, but cash. These funds can be used for any transaction, including, for example, on the home loan market, or [buying] RUSAL [shares]," Kudrin said.
He said VEB would use "the profit on its balance sheet that already exists in the form of cash" to buy shares.
He confirmed that VEB might buy up to 3% of the Russian aluminum giant.