By Walter Grand in Economy —

VTB has frozen assets worth 600 billion rubles, - head of the bank Kostin

VTB has frozen assets worth 600 billion rubles, - head of the bank Kostin
Photo by CDC / Unsplash

However, the bank is ready to exchange the frozen assets for the assets of foreign credit institutions, which were forced to stay in Russia.

We are talking about an exchange with UniCredit and Raiffeisen Bank International - they mainly work with private individuals.

However, Kostin is not considering buying Citi's small and medium-sized enterprise (SME) business in Russia. He is willing to get these assets only "for free."

Earlier, Kostin said that VTB will suffer losses worse than in 2009.