VTB predicts an increase in profits to 650 billion rubles by 2026 – Kommersant
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Head of VTB (MOEX: VTBR) Andrey Kostin expects that by the end of 2026 the profit of the credit institution will increase to 650 billion rubles. VTB’s net profit under IFRS in 2025 could amount to 520 billion rubles.
“We have set quite ambitious targets in terms of financial results. We plan that our profit at the end of 2026 will increase to about 650 billion rubles, that the market share in assets will be at least 18% and in foreign economic activity at least 15%,” said Andrei Kostin at the presentation of the Development Strategy for 2024 – 2026.
By words Andrey Kostin, for the period 2024 – 2026, VTB’s profit can increase by 1.5 times. Based on the results of 2025, VTB intends to resume paying dividends. In addition, VTB plans to strengthen its position in the regions, making the bank accessible to 100 million residents of Russia. The number of individual clients actively using VTB financial services should grow to 35 million people.
The bank plans to focus on import-substituting projects with a high degree of localization. At the moment, the client base of medium and small businesses has exceeded 1 million. “We see the main drivers of profit as the growth of net interest and commission income against the backdrop of the adaptation of the Russian economy to sanctions restrictions and the restoration of consumer demand,” said Dmitry Pyanov, First Deputy Chairman of the Board of VTB.
The last time VTB paid dividends was for 2020. At the end of 2022, the group did not pay dividends due to a record loss of 612.6 billion rubles. VTB’s net profit for 2023 exceeded 432 billion rubles, but the bank still decided not to pay dividends.
Read about VTB’s new strategy in the Kommersant publication “Bank for the whole family”.
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