MOSCOW (Reuters) - The total number of banks in Russia may shrink to around 300 in the next five years as a result of tougher regulation and the overall economic situation, Andrei Kostin, chief executive of Russia's No.2 bank VTB (MM:VTBR), told Rossiya-24 state TV on Tuesday.
Separately, Kostin told reporters he thought that the peak of overdue loans for the sector had passed.