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VTB's unit gets shareholders' nod to cease banking ops in Ukraine

The shareholders of JSC VTB Bank's Ukrainian unit PJSC BM Bank voted for the lender will terminate its banking activities, while keeping the status of a legal entity.

The decision is in line with the strategy of VTB Group to optimize its presence in Ukraine, the Ukrainian lender said March 19, adding that it would file a banking license cancellation request with the Ukrainian central bank in September.