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Report: VTB Bank gets 19% stake in new Qatari lender

Russia's VTB Bank PJSC has become the owner of a 19% stake in new Qatar-based CQUR Bank, having invested about $5 million in the lender, news agencies Prime and RIA Novosti reported Aug. 16.

With its registered capital amounting to $100 million, the Qatari bank obtained a license in July and will start operations in the near future.

Qatar is a new financial market for VTB so the Russian lender decided to enter it together with other investors, the bank's press office was cited as saying.