February 26, 2018 / 11:28 AM / 3 months ago

Russia's VTB says purchase of Magnit retailer did not impact capital

MOSCOW, Feb 26 (Reuters) - Russia’s No.2 bank VTB does not see any impact from its recent purchase of retail chain Magnit on the bank’s capital, Deputy Chief Executive Herbert Moos said on Monday.

Businessman Sergey Galitskiy sold most of his stake of Magnit to state lender VTB for about 138 billion roubles ($2.5 billion) less than two weeks ago.

Reporting by Tatiana Voronova; Writing by Polina Nikolskaya; Editing by Polina Ivanova

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