trending Market Intelligence /marketintelligence/en/news-insights/trending/mWU6JO1edFA3-a2lA4g8uw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Report: VTB Bank to reduce holding in Angolan unit

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


Report: VTB Bank to reduce holding in Angolan unit

VTB Bank PJSC and its partners plan to sell a 20% stake in Banco VTB Africa SA to the Angolan unit's management, news agency Prime reported Oct. 23.

VTB wants to sell 10% of the subsidiary's shares which will lower its shareholding in it to 40% from 50.1% and VTB's partners will similarly reduce their stake to 40%. The transaction could be finalized by the end of 2019, Prime said, citing VTB Bank CEO Andrey Kostin.

Banco VTB Africa's management team has significantly contributed to the robust performance of the lender, whose return on equity amounts to around 50%, Kostin noted, adding that the deal is aimed at further motivating the management.

"They were ready to buy 100% of the bank, but I decided that we need to stay in Angola," Kostin said.

The format of the planned deal offers sufficient motivation for Banco VTB Africa's management while maintaining the Russian bank's significant stake — allowing it to influence all major decisions, the report said.

Kostin told reporters Oct. 23 that VTB Bank may need a capital boost in 2020 and will consider various possibilities, including a subordinated bond issuance, to raise funds if the need arises, according to a Reuters report.