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New capital requirements to cost Russia's VTB 140B rubles, CEO says

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New capital requirements to cost Russia's VTB 140B rubles, CEO says

VTB Bank (PJSC) CEO Andrey Kostin expects new capital requirements will cost the Russian lender 140 billion rubles, Reuters reported.

Kostin did not say whether the costs of the new rules, which come into force in 2019, will be annual or one-off for the state-controlled lender, the Reuters report from May 30 added.

As of May 30, US$1 was equivalent to 62.28 Russian rubles.