Deutsche Bank AG, seeking to slash its exposure to Russia in late 2016, scrambled to shed a $600 million loan it had outstanding to VTB Group, a large Russian state-owned bank, according to documents and people familiar with the funding. The German lender sold $300 million of the loan to another Russian financial institution, Alfa Bank, in December 2016; Deutsche wasn’t able to sell the rest of the loan, and VTB paid it back in August 2017, the documents show and the people said.

Source: Wall Street Journal February 02, 2019 22:41 UTC