VTB practically finishes debt provisioning on balance of Ukrainian subsidiary – VTB deputy head

13:15, 19.05.2015 1 min read

VTB has practically finished debt provisioning on the balance sheet of its Ukrainian subsidiary, VTB Deputy CEO Herbert Moos said during a conference call on Tuesday.

"The problems with Ukraine are practically closed, we do not have significant losses for Ukraine in Q1," he said.

The level of coverage by provisions of the portfolio on the balance sheet of the Ukrainian subsidiary is about 70%, Moos said. "This is a sufficiently significant level. In connection with this, we are not seeing additional significant provision charges," he said, adding that the majority of these loans are secured loans provided to corporate borrowers.

In the next few quarters VTB also is not expecting substantial provisioning for Ukraine.