A number of the bank’s subsidiaries abroad are experiencing liquidity problems, in part because they have been unable to raise syndicated loans to refinance previous loans.

VTB expects to receive back at least 60% of the money being provided, the source said.

"Our Western banks promised that they would close deals to raise loans before the end of the year, most likely club loans, so a portion of the funds will be returned," he said.

The charter capital of VTB Europe in London may have to be increased, the source said.

Financial regulators in the major economies are tightening requirements for non-resident banks, particularly those from emerging markets, he said.

However, VTB Europe may be able to receive funds from the European Central Bank.

Nonetheless, the foreign bank system is not currently a burden for VTB, he said.

VTB has 12 banks abroad in the CIS (Armenia, Georgia, Ukraine, Belarus), Europe (Austria, Cyprus, Switzerland, Germany, France, UK), Africa (Angola) and Vietnam, two affiliates (India, China) and two representations (Italy, Kazakhstan). VTB is also finalizing purchase of Azerbaijan’s AF-Bank.

Two subsidiaries, in Kyrgyzstan and Kazakhstan, are in the process of being opened. VTB also plans to purchase Kapitalbank in Uzbekistan as well as banks in Tajikistan and Moldova.

It is also finalizing sale of Russian Commercial Bank (Switzerland) to the Gazprombank group.