Russian investment bank VTB Capital paid a handful of London employees £3.3m in the first half of 2025, as administrators continue the complex process of unwinding the firm three years after it was shuttered in the UK.

The bank, which announced plans to close its London operations shortly after Russia’s invasion of Ukraine in March 2022, has retained 12 key employees in the country as it continues to work with creditors and other financial counterparties.