Baring Vostok Not Going To Withdraw From Capital of Vostochny Bank Yet, Calvey Says

The Baring Vostok private equity firm is not going to withdraw from the capital of Vostochny Bank yet, the firm’s founder Michael Calvey told TASS on Wednesday.

Calvey is a defendant in the case of embezzling 2.5 bln rubles of the bank’s loan funds.

“There are no plans to withdraw [from the capital of Vostochny Bank – TASS] in the near future. The Baring Vostok Fund remains a shareholder of the bank, and we have no plans to withdraw from this asset in the near future,” Calvey said.