The bank has also selected a core banking system to support its new operations once the licence is granted, Sopra Banking Software (with its Sopra Banking Platform) wining the deal. The solution will be supplied on a hosted basis.
The bank has been operating in UK via its multinational investment-banking arm, VTB Capital, but, so far, it did not involve in retail banking.
Earlier in September 2017, another major banking player, Goldman Sachs, unveiled its intentions to move into the UK retail banking market.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now