VTB 24, retail branch of Russia’s second largest lender VTB, plans to return a part of its quota of an additional issue of OFZ government bonds for households to the Finance Ministry, a financial market source told PRIME late Monday.
On April 26, the ministry launched sales of debut 3-year OFZ bonds for households amounting to 15 billion rubles. On June 6, the ministry offered an additional 15 billion ruble issue.
The source said that the amount of OFZ bonds that will remain after quota return to the Finance Ministry will be primarily sold to new clients. “The bank plans to focus on sales of own savings products to keep more liquidity and to sell the remaining securities to new clients.”
The bank did not comment on the information.
A market source said that many of those who wanted to acquire household bonds have done this already.