Bulgaria ex-FinMin Djankov Enters VTB Bank's Supervisory Council

Simeon Djankov, Bulgaria's former Finance Minister in center-right GERB government (2009-2013) has joined the Supervisory Council of Russian VTB Bank.

In an official message, the bank names Djankov as one of the three new members of its supervisory body, alongside First Deputy head of the Bank of Russia for financial markets Vladimir Chistyuhin and ex-Deputy President of Vneshnekombank Mikhail Kopeykin, Russian business daily RBC reports.

RBC has described Djankov as "Rector of the Russian Economic School".

VTB's website has also published changes to its Council on its English-language version as part of a summary on its shareholders' General Annual Meeting.

The three new members, announced June 20, step into office as other three "have left", with Russian Minister for Economic Development, Alexander Ulyukaev, among them.

Novinite quoted in early March reports by Sega daily suggesting Djankov was due to join the Supervisory Council.

Among the 12-strong council's other representatives are also Russian Deputy Finance Minister Alexey Moyseev and the Nord Stream AG (Switzerland) CEO Matthias Warnig.

The news comes amid reports that VTB, a shareholder in the Corporate Commercial Bank (KTB), which was placed under supervision by the Bulgarian National Bank on Friday, has expressed interest in helping the troubled financial institution.

VTB is the second-largest bank in Russia after Sberbank in terms of its authorized capital.