Russia's VTB CEO: It is not the right time to privatise the bank

March 11, 2016 1:38 PM

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MOSCOW, March 11 It is not the right time for the Russian government to reduce its stake in VTB, Russia's No.2 bank, Andrei Kostin, its chief executive, told CNBC in an interview.

Kostin said he thought the Russian economy would shrink by 1-2 percent this year with growth only likely to return in 2017.

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