MOSCOW: Russian banks may want to develop their business in Crimea, with VTB’s Bank of Moscow most interested in expanding there, Kommersant newspaper reported yesterday citing sources.
Kommersant reported that an option being considered for Crimea’s banks could lead to a Russian bank establishing 300 branches in the region.
Crimea has around 70 banks currently registered with the National Bank of Ukraine. The paper reported that Bank of Moscow, bought by Russia’s second largest bank VTB in 2011, is showing the greatest interest in such a plan.
It may not open branches under its own name, but through a subsidiary, the paper cited a source as saying.
Bank of Moscow declined to comment.
Crimean Deputy Prime Minister Rustam Temirgaliyev has been quoted by Russian media as saying Crimea will drop the Ukrainian hryvnia and adopt the Russian rouble in April, and will have a banking system completed by April 15.
Reuters
