VTB admitted in November the impairment of assets by 12.5 billion rubles – Kommersant
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In November 2023, VTB cumulatively wrote off intangible and non-core assets for 12.5 billion rubles. This affected the item “other operating income”, for which the bank received a loss of 9.3 billion rubles in November. The first deputy chairman of the board of VTB, Dmitry Pyanov, told reporters about this. In November, the bank “revalued several non-financial assets, writing off a large number of intangible assets for which further use will be limited or impossible,” the top manager said.
Intangible IT projects accounted for 6.4 billion rubles. write-offs, the remaining amount of impairment of non-core assets. In particular, investments in online banking in Telegram were written off (since March, banks have been prohibited from servicing clients in this messenger), as well as old, unsupported mobile banking solutions based on iOS in the retail business, Mr. Pyanov explained.
In November, the net profit of the VTB Group according to IFRS amounted to 14.7 billion rubles, for eleven months – 417.5 billion rubles. The net interest margin was 3.1%.
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