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VTB Setting Up Developer

VTB Group is setting up a developer to manage construction assets it gained during the economic crisis, Vedomosti reported, citing two unidentified clients of the state-run bank.  

The bank has hired about 40 to 50 people and could create one of Russia’s largest property companies if it combines the new structure with its VTB-Development unit, which has investments in St. Petersburg, the newspaper said. 


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