6 Apr 2021 17:17

VTB Capital Investments planning to launch brokerage platform in Germany in 2021

MOSCOW. April 6 (Interfax) - VTB Capital Investments plans to enter the European market in 2021 and launch a brokerage app in Germany, VTB Capital Investments CEO and VTB Senior Vice President, Vladimir Potapov, told reporters.

"We have a bank with a full license in Germany. A rather successful product, the VTB Invest robo-advisor, was launched at the end of 2019. We are planning to release an online brokerage app in Europe this year. We are starting in Germany, and shall move on from there," Potapov said.

"We are currently looking at several other markets, though we are thus far releasing the app for Germany out of practical steps," Potapov added.

As previously reported, VTB Group in 2018 completed the transfer of its European divisions in Germany, Austria and France to a single banking license, and the unified structure will operate under the name VTB Bank (Europe) SE, with headquarters in Frankfurt am Main. The activities in Germany are focused specifically on business clients.

According to information on the VTB Invest website, the company currently provides German citizens with the opportunity to invest exclusively in investment funds, ETF.