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Russian bank VTB to shut its only office in India

But the bank says it will continue to work in India

Reuters  |  Moscow 

VTB bank logo, VTB bank, VTB
VTB bank logo. Photo: Reuters

Russian bank has decided to close its only office in to cut costs but will continue to work in India, the bank said on Tuesday.

"The decision to shut the branch in was taken as part of a strategy of Group aimed at optimising costs. We will continue to work on the Indian market, expanding our cooperation with local partners," the bank said in a statement.

While closing its office in New Delhi, added that it saw commodities and investment banking as priority areas for the bank in

is also planning to cut costs in Europe by slimming down its operations to focus on

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Russian bank VTB to shut its only office in India

But the bank says it will continue to work in India

But the bank says it will continue to work in India

Russian bank has decided to close its only office in to cut costs but will continue to work in India, the bank said on Tuesday.

"The decision to shut the branch in was taken as part of a strategy of Group aimed at optimising costs. We will continue to work on the Indian market, expanding our cooperation with local partners," the bank said in a statement.

While closing its office in New Delhi, added that it saw commodities and investment banking as priority areas for the bank in

is also planning to cut costs in Europe by slimming down its operations to focus on

image
Business Standard
177 22

Russian bank VTB to shut its only office in India

But the bank says it will continue to work in India

Russian bank has decided to close its only office in to cut costs but will continue to work in India, the bank said on Tuesday.

"The decision to shut the branch in was taken as part of a strategy of Group aimed at optimising costs. We will continue to work on the Indian market, expanding our cooperation with local partners," the bank said in a statement.

While closing its office in New Delhi, added that it saw commodities and investment banking as priority areas for the bank in

is also planning to cut costs in Europe by slimming down its operations to focus on

image
Business Standard
177 22