VTB could return to matter of expanding presence in Iran

MOSCOW. June 30 (Interfax) - VTB might come back to the issue of expanding its presence in Iran, VTB CEO Andrei Kostin told journalists following the bank's annual shareholders meeting.

"We will think again now, perhaps, about opening our bank in Iran. The situation regarding military action will end shortly, and I think we will come back to this issue," Kostin said.

The bank said in March that it would put the plans to expand its presence and open a new branch in Iran on hold.

According to the Central Bank of Russia's website, VTB has 21 branches in Russia. The group also includes subsidiary and associated banks in Vietnam, Armenia, Belarus, Kazakhstan and Azerbaijan, as well as a branch in India, a branch and office in China and an office in Iran.

By the end of 2025, VTB had planned to transform its Iran office into a branch assisting Russian and Iranian companies in their foreign economic activity, offering banking products and payment mechanisms which are in demand on the Iranian market.