Russia's second largest bank eyes Turkey expansion

Published 13.06.2018 22:30
Updated 14.06.2018 00:16

VTB Capital, the international investment banking business of Russia's second largest lender, is planning to expand its operations in Turkey, Vice President Riccardo Orcel has said.

Orcel said VTB Capital also plans to expand its international presence. "We want to increase our future activities, especially in Turkey," he said.

Speaking to Russian news agency RIA Novosti, Orcel said Russia will continue to be VTB Capital's primary market.

He said the bank wants to become more active in international markets - especially in China and India.

Orcel added that they were also looking to expand operations in Turkey as well as in some Central, Eastern European and African countries.

He said that they were very active in the Turkish market. "As an alternative source of financing, we assess the likelihood of selling euro deposits with customers to attract investors," he said.

The VTB Capital vice president recalled that they have recently made some investments in Turkey for the first time in demand management agreements.

"This year we will continue to market the agreements as well. We want to carry out two to four transactions for Turkish companies in the debt capital market," he said

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