Russian VTB mulls sale of Bank of Moscow's Serbian unit.

By bne IntelliNews October 25, 2011
Russian financial group VTB may sell the Serbian, Belarusian and Ukrainian subsidiaries of its newly acquired unit Bank of Moscow within a month and a half, Russian RBK Daily reported, citing a source close to VTB. Negotiations are currently under way on the sale of all three units, the source said. Russian Alfa Bank has shown interest in the three assets, the source added. Bank of Moscow Belgrade started operations with corporate clients in 2008 and its retail business was launched in 2009 when the bank's first branch office in Belgrade was opened. In the first quarter of 2011 the bank posted a profit of RSD 26.8mn.

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