On August 7, Russia’s VTB bank quotations closed at 13.34 kopecks, 1.5% below what the VTB stock was priced at during its recent IPO. Investors were prompted by GOLDMAN SACHS analysts, who recommended that VTB securities be sold despite active market support. The analysts pointed out in their report that the Russian banking sector was highly risky at present. According to the report, VTB may face risks due to the accelerated development of retail operations and the integration of the newly purchased assets.
Source: WWW.KOMMERSANT.RU, August 8, 2007
