28.05.2020, 16:55
VTB Capital Cuts Quarter of Employees in London
Source: OREANDA-NEWS
OREANDA-NEWS. London VTB Capital PLC, part of VTB Group, continued to reduce staff, according to its financial statements for 2019. According to the results of last year, VTB Capital reduced about 25% of employees - their number decreased from 206 to 159. It will decrease in 2020, the bank announced.
VTB Capital was the center around which VTB Group’s strategy was built on the international market, the report says, but in 2018 the investment bank had to revise its business model, including due to the deterioration of the geopolitical situation between Russia and the UK and the growth of uncertainty for the exit of the kingdom from the European Union.
VTB Capital remains unprofitable: in 2019, the investment bank showed a loss of $ 59.1 million, a year earlier - in the amount of $ 63.9 million. VTB Capital assets last year decreased from $ 2.7 billion to $ 2.12 billion, capital - from $ 696 million to $ 630 million.
VTB Capital was the center around which VTB Group’s strategy was built on the international market, the report says, but in 2018 the investment bank had to revise its business model, including due to the deterioration of the geopolitical situation between Russia and the UK and the growth of uncertainty for the exit of the kingdom from the European Union.
VTB Capital remains unprofitable: in 2019, the investment bank showed a loss of $ 59.1 million, a year earlier - in the amount of $ 63.9 million. VTB Capital assets last year decreased from $ 2.7 billion to $ 2.12 billion, capital - from $ 696 million to $ 630 million.
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