MOSCOW, October 8 (RIA Novosti) - State-controlled Vneshtorgbank (VTB) received about $2 billion in investment on world markets in August-September through private deals, Andrei Kostin, the bank's CEO, said on Monday.
The CEO said the bank had no immediate plans to enter the open market, to receive funds from a large number of investors, but was following the market situation.
Speaking to journalists, Kostin also announced that VTB would invest $2-4 billion in Russia's electric power sector this year.
"Before the end of this year, we plan to allocate between $2 billion and $4 billion to electricity companies. The power sector is undergoing major changes, and VTB wants to take an active part in this process," he said.
Asked where the bank would obtain the funds, the banker said: "Possibly from within the country - in addition, the bank also has excess liquidity."
Kostin said VTB Group was currently involved in cooperation with some wholesale and territorial generating companies, and with Inter RAO UES, the Russian electricity monopoly's import and export operator.
"We plan to significantly increase the volume of loans in the near future," Kostin said, adding that electricity companies could take loans worth up to $30 billion as part of the privatization process.
