Shares in Russian lender VTB, which raised $8.2bn (€6bn) through a London and Moscow dual listing in May, closed below their offer price for the first time yesterday. The drop may endanger the job of the bank's chairman, who said before the flotation he could be forced to leave if shares fell.

Shares in the Russian bank last night closed at 13.52 kopeks, 0.6% down from their offer price of 13.60 kopeks, as last week's turbulent markets sparked a sell-off.