VTB may pay dividends based on the results of 2024 – Kommersant
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Head of VTB (MOEX: VTBR) Andrey Kostin said that the bank’s strategy envisages a one-and-a-half-fold increase in profit over three years. Mr. Kostin also said that in the base scenario, VTB will return to paying dividends based on the results of 2025. However, if the results turn out to be better than the business plan, payment of dividends is also possible based on the results of 2024
“Our three-year program, we believe that profits can grow by even 1.5 times over these three years. For now we look positively and we have less dependence on the West,” Andrei Kostin said in an interview with the Rossiya-24 TV channel.
Mr. Kostin also spoke about the possible resumption of dividend payments. “We believe that by the end of 2025, we will, of course, pay dividends – yes, that’s for sure,” he assured. The head of the bank does not yet know whether the group will pay dividends based on the results of 2024, but does not rule out such a scenario. “For now, we have no plans to restore capital with the Central Bank. The Central Bank would not allow us to do this yet. Let’s see, if the results are better, then maybe… But for now we are targeting 2025,” he added.
The last time VTB paid dividends was for 2020. Then the payments amounted to 0.0014 rubles. per share (in total, 18.146 billion rubles were paid). In 2021, the bank showed a record annual profit of RUB 327.4 billion. However, in April 2022, VTB came under US blocking sanctions and the government allowed the bank not to pay dividends for 2021. At the end of 2022, the group did not pay dividends due to a record loss of 612.6 billion rubles. At the end of 2023, the bank also decided not to pay dividends, although the group’s net profit exceeded RUB 432 billion
Read about VTB’s new strategy in the material “Bank for the whole family”.
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