Two Faced Kostin

The Moscow Post

Recent Article in the Moscow Post states that number one person on the list of “banned bankers” proposed recently by VTB head Andrey Kostin should be Mr. Kostin himself.
The article provides a number of reasons why he should be banned from banking. These reasons include: theft by the management of VTB during the provision of loan to buy Chinese drilling technology, constant theft of ‘bags of black money’ for the Ministers and Kremlin officials, fraudulent dealing in the ‘VTB-real estate’ company.
Besides the article provides an extract from the conversation where Kostin straightforwardly states that he is hiding the truth from the shareholders and regulators regarding the real financial state of VTB Group.

New faces of the Bank of Moscow

This article talks about two members of the Bank of Moscow new management team: the current president of the Bank of Moscow Michael Kuzovlev, who is referred to in the article as ‘the main raider of VTB,’ and his main ‘insider’ – the current vice president of the legal affairs Tatyana Udalcova. According to the article, they were planning dismissal of Andrey Borodin for a long time. Now that they have achieved this, according to the article, their main goal is to ‘demonstrate’ to everyone that the previous managers of Bank of Moscow left the bank in a very bad state. To do this, they are planning to employ rather unethical methods, such as ‘creating’ the apparently existing holes in the balance sheets of the Bank, ‘left by the previous management’. The article also states that these managers are planning to make previously successful businesses of the Bank bankrupt. By doing so, they plan to benefit financially without facing any consequences as they can easily put the blame on the previous management.