Exclusive: Russia’s VTB to gain billions of roubles if interest rates come down, CFO says

Every 1% cut in central bank interest rates gives Russia’s VTB Bank an extra 20 billion roubles ($250 million) in net profit, CFO Dmitry Pyanov told Reuters, which benefits the government as the state-owned lender plans to distribute 50% of its profits via dividends – half of it to the state.Read More