State banks went cap in hand to "thugs"

Banks Finansy29-07-2010 State banks went cap in hand to "thugs" from the first state-owned banks surrendered. VTB 24 plans throughout the summer to sell to collectors portfolio of bad loans worth $ 4 billion rubles. Until now, state-owned banks did not cooperate with "thugs" for fear of reputational risk. But now State players have accumulated that amount of troubled assets that the individual work with them becomes almost impossible. On the bank's intentions to sell several large portfolios of distressed debt collectors, said yesterday in an interview with RIA Novosti head of the bank VTB 24 Mikhail Zadornov. "We will remove from its balance sheet a few tens of thousands of loans that are in the delay (...) this portfolio, which is measured by several billions of rubles. The first deal we spend the next two months "- quoted him as saying the agency. Plans to sell mainly unsecured loans to the small size of the remaining debt: pools of loans, cash and credit card debt. These loans are not concentrated in any one region and spread across the country, he said.