April 5, 2017 / 11:37 AM / 6 months ago

VTB CEO Kostin to have term extended - TASS cites Russian PM

MOSCOW, April 5 (Reuters) - Andrey Kostin will have his term extended as chief executive of VTB, Russia’s second-largest state bank, TASS news agency cited Russian Prime Minister Dmitry Medvedev as saying on Wednesday.

Kostin has headed VTB, which is under Western sanctions over Russia’s role in the Ukraine conflict, since 2002.

VTB has played a major role in funnelling capital to the resource exporters that dominate Russia’s economy and has overseas operations in Europe, Asia and Africa. (Reporting by Alexander Winning; editing by Polina Devitt)

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