In 2023, VTB Group’s net profit exceeded 432 billion rubles – Kommersant

The net profit of the VTB Group according to IFRS for 2023 amounted to 432.2 billion rubles, as follows from the disclosed information. This result is a record, noted VTB First Deputy Chairman Dmitry Pyanov in a conversation with reporters. Net interest income amounted to 761.4 billion rubles, net commission income – 217 billion, net other operating income – 127.3 billion rubles. At the same time, the peak volume of net interest (198 billion rubles) and commission (60.6 billion rubles) income occurred in the third quarter. As Mr. Pyanov explained, the higher the growth of the retail portfolio, the higher the growth and value of net commission income due to the effect of bancassurance.

The past year, according to the top manager, was a record year for the group in terms of “level of return on capital (22.3%).— “Ъ”), growth in the active client base (by 2.3 million people.— “Ъ”) and a historically low level of problem loans (3.2%.— “Ъ”)”. Overall, over the year, the group’s assets grew by 20.5%, to RUB 29.4 trillion. (of which RUB 21 trillion is the total loan portfolio), customer funds also showed an increase of 20.5%, to RUB 22.3 trillion. (of which 9.6 trillion rubles are funds from citizens).

In the new IFRS reporting, the 2022 result was adjusted. If previously the net loss was estimated at 612.6 billion rubles, now it is estimated at 667.5 billion rubles. At the end of 2022, the Otkritie FC group was acquired (December 23), and the IFRS standard for business combinations provides for 12 months to finalize the valuation, Mr. Pyanov noted. “In fact, the lion’s share of the deterioration in financial results is associated with the revision of the fair value of Otkritie’s assets and liabilities,” he explained. The quarterly distribution of net profit for 2023 indicates its sharp decline by the end of the year. If in the first and second quarters the bank earned 147 billion and 143 billion rubles. accordingly, already in the third quarter – 86.5 billion, and in the fourth – only 55.9 billion rubles.

In 2024, the group intends to slightly improve its net profit result. According to Dmitry Pyanov, the target forecast is 435 billion rubles.

Olga Sherunkova