Russia’s VTB Capital has opened a Hong Kong office to develop its business in the Asia Pacific region.

Commenting on the opening, VTB’s global CEO Alexey Yakovitsky, says: “We are sure [the new office] will help us to strengthen our position in Asia. We see many prospects to develop our business in Hong Kong and we greatly value the attractiveness of Asian debt and equity capital markets for Russian companies.”

VTB entered the Asia Pacific market in 2010 with the signing of Rusal’s IPO, which was the first initial public offering by a Russian company on the Hong Kong stock exchange.