The Russian bank VTB lent $12 bln to Central Africa Republic by mistake, the Central Bank of Russia informed, Reuters reports.
VTB called the regulator’s data as “transactional error”, stating the absence such loan. However, the information about the loan is contained in VTB’s quarterly financial report published by the Central Bank.
The report includes the table, which enlists VTB’s financial requirements to a dozen of countries as of October 1, 2018.
The amount of 801.9 bln rubles ($11.99 bln) is indicated opposite Central Africa Republic in the table.
In response to Reuters’ request, VTB informed that there is no such loan. The bank did not inform who is guilty of the mistake and how such huge amount could appear in the report unnoticed.
As RBC reports, VTB corrected the report on distributing debts among debtors from different countries.
The debt, listed under CAR, has been transferred to Cyprus. The outstanding debt of its residents to VTB exceeded 1 trln rub.
It should be reminded that as of November 27, the National Bank of Ukraine declared Ukraine’s VTB subsidiary insolvent. Then, the Individuals’ Deposit Insurance Fund imposed temporary administration for one month.
Ukrainian VTB Bank (previously – Mriya) was founded in 1992. Russian bank VTB is its major shareholder with 99.9% holding.
According to the National Bank of Ukraine, as of July 1, 2018, in terms of net assets, VTB Bank ranked 22nd (UAH 8 bln) among 83 banks operating in the country.