“Are you totally out of your mind?” Russian newspaper tycoon Alexander Lebedev exclaimed as he jumped to his feet. He stared combatively at property developer Sergei Polonsky, who had taunted Lebedev for ridiculing his claim to be a major charity donor.
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.
VTB Group will not buy any Bank of Moscow shares held by former chief executive officer Andrey Borodin as the state-controlled lender acquires minority stakes in the lender, VTB President Andrei Kostin said.
Former Russian Finance Minister Alexei Kudrin, ousted by President Dmitry Medvedev for insubordination, may regain policy influence as chairman of the central bank in a Vladimir Putin administration, VTB Group chief Andrei Kostin said.