Russia's VTB plans to invest 16 bln rbls in Postal Bank

September 7, 2015 10:39 AM

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MOSCOW, Sept 7 Russia's second-largest bank VTB will invest 16 billion roubles ($234.6 million) in Postal Bank, a project it is creating in partnership with Russia's state-run Russian Post, VTB's chief executive said on Monday.

VTB's Andrey Kostin added to reporters that he hoped Postal Bank could break even from 2016. The new Postal Bank will have one of the largest branch network in the country, thanks to Russian Post offices.

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