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. Last Updated: 07/27/2016

Kuzovlev's Status Unclear

Bank of Moscow dismissed Mikhail Kuzovlev, VTB deputy chief executive, from its management board, the lender said Monday in an e-mailed statement.

But Bank of Moscow board chairman Andrei Kostin said he hasn't signed any documents relating to the dismissal of Kuzovlev from the lender's management committee. Kostin, who is also chief executive of VTB Group, said he wasn't informed of a directors meeting on such a decision, according to an e-mailed statement from state-controlled VTB.

Bank of Moscow declined to comment on Kostin's statement, only reiterating that the board of directors had dismissed Kuzovlev.

(Bloomberg)