Holders of preferred shares of Bank Vozrozhdenie believe that the exchange ratios for shares of BM Bank, which consolidates VTB's subsidiaries, are unfair. It is planned to exchange 1 share of BM Bank for 1.5 ordinary shares or 4 preferred shares of Vozrozhdenie. Arsagera MC, which is the owner and trustee of the preferred shares of Vozrozhdenie Bank, has sent an appropriate appeal to the VTB Supervisory Council and a complaint to the Bank of Russia. The potential damage to owners of preferred shares is estimated at ₽600 to ₽650 million.