Kostin expects VTB’s record profit in the first quarter of 2023
[ad_1]
In the first quarter of 2023 VTB waiting for record profits. This was stated by the head of the bank Andrey Kostin in an interview with the international Chinese TV channel CGTN.
“The Russian economy resists sanctions very well. Contrary to forecasts, Russian GDP shrank by about 1% last year, we expect an improvement this year. As for VTB, it looks like we will have a record profit in the first quarter of this year,” he said (quote by Interfax).
Against the backdrop of Kostin’s statement, VTB shares by 10.49 Moscow time rose by 10.84%, to 0.0185 rubles. per paper, follows from the data of the Moscow Exchange. As of 11.20, growth slowed down to 7.73%, to 0.01798 rubles. for paper.
The third quarter of 2021 was a record for VTB in terms of financial results. At that time, the bank’s net profit under IFRS amounted to 87 billion rubles. The credit institution stopped publishing financial statements after it came under EU and US sanctions in the spring of 2022. VTB also did not publish the results for 2022.
In February Kostin acknowledgedthat the year was unprofitable for the bank. According to him, from February 24 to March 10, 2022, the population withdrew $26 billion. At the same time, the head of VTB expressed confidence that in 2023 the bank would return to profit. At the same time, Kostin added, the results are unlikely to reach the indicators of 2021, when the bank earned 320 billion rubles.
[ad_2]
Source link
