JSC VTB Bank (LSE:VTBR) is involved in negotiations to acquire Public Joint Stock Company West Siberian Commercial Bank and SKB bank d.d., which operate in Russia's Siberia and Ural regions, Banki.ru reported. JSC VTB Bank is negotiating the purchase of two banks in Russia's Siberia and Ural regions, Banki.ru reported on January 19, 2017, citing Chief Executive Officer, Andrey Kostin. Kostin did not disclose any names, but market sources said the lenders in question are PJSC West Siberian Commercial Bank, or Zapsibkombank, and OAO AKB SKB-Bank, Banki.ru noted, citing Vedomosti.

VTB had shown interest in purchasing Zapsibkombank in 2016; negotiations were suspended at the time but have been recently resumed, the report said.