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VTB Bank moves to sell Serbian unit

The supervisory board of VTB Bank (PJSC) decided to divest the lender's 100% stake in Serbian unit VTB Banka a.d. Beograd.

The Russian lender wants to sell the Serbian bank at a price not lower than the market value of the unit, determined by an appraiser, it said in a July 2 regulatory filing.

The bank did not provide any information on potential buyers. VTB Bank First Deputy Head Yuri Soloviev said in spring 2017 that two potential investors were interested in acquiring the Serbian bank, Kommersant reported July 2.