Advocates of Bitcoin gained support from OAO Sberbank chief Herman Gref, who’s urging the Kremlin to stop Russian lawmakers from curbing the use of virtual currencies in a bill designed to cut funding for terrorists.
VTB Bank, Russia’s second-biggest lender, rose for a third day after Chief Executive Officer Andrei Kostin said the central bank will step up efforts to halt a slide in the ruble and as the currency advanced.
Bank of Moscow climbed to its highest level in almost three years and had its biggest weekly rally since April 2007 after Interfax reported VTB President Andrei Kostin may chair the lender he’s seeking to buy.
VTB Group and OAO Sberbank are diverging in the stock market by the most in 15 months on speculation the government will accept a lower price for shares in VTB to shore up the lender’s financial position.
VTB Group, Russia’s second-largest bank, plans to boost profit by 60 percent to 80 billion rubles ($2.6 billion) next year and to more-than double earnings in 2013 to as much as 140 billion rubles, Chairman Andrei Kostin said at an event for the company in Moscow today.
Hong Kong should make it easier for investors to trade in shares of United Co. Rusal Ltd. to entice more Russian companies to sell stock in the city, said Andrei Kostin , the head of Russia’s second-largest bank.
Moscow has a “good chance” to become an important regional financial center, VTB Group Chairman Andrei Kostin said. “Moscow won’t replace London” as the financial center, Kostin said in a Bloomberg TV interview in London today. “The first target is to create a local regional financial center,” he added.