Andrey Kostin, chief executive of VTB for the past 12 years, says that overtaking Sberbank to become Russia’s biggest bank is not an aim. “We never said we wanted to be the biggest bank,” he says. But VTB – today Russia and eastern Europe’s second-biggest lender – is heading in that direction.
VTB’s emergence on the global banking stage has been rapid. Set up as the Soviet Union collapsed, it now operates in about 20 countries on four continents.
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