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20 December 2016
Russia’s VTB Group ‘Prepared’ to Commit Capital to Turkey

VTB anticipates making “a number of interesting deals” across M&A, equity capital markets, loans and commodities in Turkey in 2017, Riccardo Orcel, Deputy CEO of VTB Group and head of VTB International, said in interview in Istanbul Dec. 14, without specifying potential projects. 

  • Sees shareholder financing as a suitable funding form given high market volatility
  • “If the investment story is interesting, we have an appetite for that,” Orcel said
  • Says early 2016 was a “difficult period” as Turkey’s downing of Russian jet in Syria in late 2015 increased tension between 2 countries and slowed down deals
  • Sees opportunities from rapprochement of Russia and Turkey; says VTB has resumed pushing forward plans to develop relationships with local clients in Turkey
  • NOTE: VTB declined to comment on whether assassination of Russian Ambassador to Turkey will impact business plans

Corporate Communications VTB Capital