The head of investor relations at Russian lender VTB Group has resigned after shares in the bank consistently traded below their offer price since its $8.2bn (€5.6bn) May flotation, despite the country's blue-chip RTS index rising 21% over the same period.

Natalya Loginova, VTB's vice-president for debt and finance and responsible for investor relations, has quit following poor performance in the bank's global despositary receipts since its flotation, which was the largest share issue in Europe last year.