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Russia: Putin discusses Russia's banking sector with VTB Bank CEO

22 04.06.2015 Инфо

The CEO of VTB Bank met with Russian President Vladimir Putin in Moscow, Thursday to discuss the performance of Russia's banking sector. Andrei Kostin, President and Chairman of VTB Bank's Management Board, reported large-scale growth in the value of savings held by lenders operating in the Russian market, adding that this was a marked improvement on 2014 where there was "no growth at all." He also pointed out that since interest rates had been cut, lending has also increased. Kostin stated that the public's trust in the banking sector has grown since the beginning of the year.