VTB asks for RUB200bn capitalisation from National Welfare Fund

VTB: Russia’s second-largest lender the VTB Bank is asking the Russian government to provide it with RUB 200bn ($4.77bn) to boost its capital – and wants between RUB50bn and 70bn of it by the end of the year.  As is the case with several other major banks,  sanctions imposed by the US have meant that VTB can no longer access long-term loan facilities available on the international markets and it is now looking to the National Welfare Fund as an alternative source of capital. KP.ru