Azerbaijan’s SOFAZ has no plans to increase share in Russian VTB Bank
Baku, Azerbaijan, May 16
By Maksim Tsurkov - Trend:
The State Oil Fund of Azerbaijan (SOFAZ) has no plans to increase its share in Russia's VTB Bank, SOFAZ told Trend.
Earlier, Russia's President Vladimir Putin signed a decree to reduce the state's share in the bank's authorized capital from 45 percent to 42.8 percent.
SOFAZ has 2.95 percent share in Russia's VTB Bank. It obtained this share for $500 million.
VTB Bank is represented in Azerbaijan through its VTB Bank (Azerbaijan) subsidiary.
VTB Bank (Azerbaijan) renders services to the customers of corporate business, small business and private clients.
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