“I was told: take what we are offering you, or there will be problems”. Andrey Borodin – The New Times

The New Times

Andrey Borodin gave an interview to The New Times. In the interview, he said that stories about the poor state of Bank of Moscow are simply an attempt to discredit the former owners of the bank and to hide the traces of theft, which is taking place at the bank right now. According to Andrey Borodin, the hole in the Bank of Moscow balance sheet was artificially created by the VTB management in order to receive state aid for VTB’s own needs.

Read The New Times interview with Andrey Borodin in Russian here.

BoM expects net profit to go up


RBC, 08.12.2011, Moscow 15:59:07.The Bank of Moscow’s (BoM) net profit is expected to reach RUB 15bn (approx. USD 481.5m) in 2011, Herbert Moos, CFO at VTB, a state-owned bank which took over BoM in September 2011, told reporters.

BoM reported a RUB 12bn (approx. USD 385.2m) profit in Q3 2011, and expects to generate a RUB 3bn (approx. USD 96.3m) profit in Q4, Moos said.

In January-October 2011, BoM’s RAS net profit dropped 2.4-fold year-on-year to RUB 4.1bn (approx. USD 131.6m).

“Investigators are actively putting pressure and forcing to testify.” Andrey Borodin told “Gazeta.ru” about Medvedev’s and Kudrin’s role in the sale of Bank of Moscow


An online interview with Andrey Borodin has finished on the website of Gazeta.ru The former head of Bank of Moscow, who has been placed on the international search list,  spoke about the role of the former Finance Minister Alexey Kudrin in the deal with VTB and the preparation of the criminal case in relation to Investlesprom. Borodin is confident that Bank of Moscow will become a “municipal structure with no future prospects.”

Read online interview with Andrey Borodin here.