Costin: plans for privatization of state assets, Russia will not have to revise – TASS

MOSCOW, November 20. /TASS/. Plans for privatization of the state assets of the Russian Federation will not have to revise. About this stated the head of VTB Bank Andrey Kostin on the TV channel of the Rossiya 24.

“of Course not,” said Kostin, answering the question of whether it is necessary to reconsider the privatisation plans for 2016-2017 in the circumstances the Ministry of economic development, which depend on the pace of privatisation.

“generally these things for privatization are plans that are provided by the government. Another thing is that, in my opinion, today it is more about partial sale of shares with the purpose of replenishment. It seems to me that selling a particular package, which retains control of the state, whether it is Rosneft or VTB, to the full extent is not privatization. Perhaps this is the future”, – said Kostin.

According to the head of VTB, it is appropriate to do, “when different geopolitical situation, when the sanctions are lifted”.

the Candidacy of the new head of the Supervisory Board of the Bank

Andrey Kostin also said that the Supervisory Board of VTB Bank is considering the candidacy of the former head of the Central Bank of the Russian Federation and former Chairman of the Supervisory Council of VTB Sergei Dubinin as the new head of the Supervisory Board of the Bank.

“now consider the candidacy of Sergei Dubinin. He has been our Chairman of the Supervisory Board. In case of approval we hope that until the next annual meeting Dubinin is Chairman of the Supervisory Board,” he said.

Earlier Kostin also noted that VTB Bank plans to elect a new Chairman of the Supervisory Board at the meeting to be held on December 14. Currently this position is held by former Minister of economic development of Russia Alexei Ulyukayev, who is accused of extorting bribes in connection with the privatization of “Bashneft”.

In relation to the speaker a criminal case, he was charged under part 6 St. 290 criminal code (“Receiving bribes a person holding state position of the Russian Federation, with extortion of a bribe in especially large size”). Basmanny court of Moscow under the petition of investigatory Committee of Russia has placed the speaker under house arrest until January 15.

Profit VTB

Bank VTB expects to increase the rate of return of 4 times from 50 billion in 2016 to nearly 235 billion by 2019, said the head of VTB Bank.

“I think that this year the profit will be about 50 billion rubles. We are now doing the program with a three-year strategy, and there is a profit even exceed 200 billion We do the calculation in 235 billion rubles”, – he noted.

So, according to Kostin, the new three-year strategy, VTB will take into account relevant economic forecasts of the government and the Bank of Russia on the years that will allow you to achieve profits by 2019.

“We believe that this plan is absolutely real. It was developed in conjunction with our consultants and we will work on its implementation”, – said the head of VTB.

Net profit of VTB international financial reporting standards for the first nine months of 2016 amounted to 34.1 billion rubles against a loss of 10.9 billion rubles a year earlier.

the net profit of the credit institution for the III quarter of 2016 amounted to 18.7 billion rubles, as against 6.2 billion over the same period last year.

Net interest income VTB group for the first 9 months of 2016 increased to 58.4% compared to the same period last year to yoy to UAH 310.4 billion rubles.