17 May 2022 09:08

VTB divests stake in Qatar's CQUR Bank

MOSCOW. May 17 (Interfax) - VTB has divested its 19% stake in Qatar's CQUR Bank, the Russian state bank's press service told Interfax.

VTB had been a shareholder of CQUR Bank since it was founded in January 2019. CQUR has declared charter capital of $100 million and paid-in capital of $25 million, data from Qatar's financial authority QFC show. The bank's other listed large shareholders included Amathus Investment Fund SPC Ltd.

VTB was hit by U.S., UK and EU sanctions after the start of Russia's military operation in Ukraine, which was a serious blow to its international business. VTB lost control of its subsidiary bank in Europe in April, and its subsidiary in London filed for external management due to sanctions.