VTB Bank (public joint-stock company) (LSE:VTBR) is not bidding for or conducting an evaluation of the assets of Public Joint-Stock Company Bank Otkritie Financial Corporation (Otkritie Group), and this is not only due to the position of the seller - the Central Bank of the Russian Federation (Central Bank of Russia), which does not want to increase the state share in the financial sector, but also business logic: the purchase of the bank would overburden VTB's capital, while in insurance the lender already has a strategic partner. "As of now, according to my information, there are no due diligence actions on the part of employees or management of VTB Bank with respect to Otkritie Group," VTB board member Dmitry Pyanov told reporters. Judging by the statements of the Bank of Russia, VTB is an undesirable buyer for Otkritie, Pyanov said. He also pointed to the size of Otkritie Bank, stressing that its purchase would require a lot of capital. "To acquire a banking legal entity that big, we would incur an excessive capital burden, i.e. our capabilities do not match the size of the asset to be acquired," Pyanov said. Also, he said, there is the issue of cost synergies without losing customers. Pyanov also commented on the possibility of VTB Bank buying Rosgosstrakh Insurance Company (Public Joint Stock Company) (MISX:RGSS). "Our strategy for the development of the insurance business and bancassurance is exclusively a partnership with SOGAZ, so we did not look at Rosgosstrakh," he said, stressing that this violates the logic of all the lender's previous statements.