MOSCOW, RUSSIA — The chief executive of Russia’s state-controlled VTB VTBR.MM bank said it plans to remain in the grain business for the next three to five years, Reuters reported.
VTB is Russia’s second largest bank and has become the largest operator of domestic grain infrastructure after buying several assets last year. This spring it sold half of its grain unit to two other Russian firms.
Chief executive Andrey Kostin told Reuters that grain infrastructure, including roads and railway hubs, need to be improved. He said the bank was looking to further strengthen its grain team.
“All these things are in our focus, as well as external market developments where we are more and more actively trying to enter with our Russian grain,” Kostin told the news agency.