A slump in the share price of VTB, the Russian bank that in May completed the largest flotation so far this year, has forced it to postpone the full integration of one of its lenders.

The bank's board yesterday cancelled an extraordinary general meeting to discuss the completion of Promstroibank's integration of over fears investors in VTB's equity and debt, both of which are trading below their issue price, could use the opportunity to sell their holdings back to the bank at their full value. The meeting was scheduled for later this month.