VTB shareholders refused dividends for 2022 due to lack of net profit from the bank
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VTB shareholders approved the decision not to pay dividends for 2022 on common and preferred shares of both types. This is stated in the message of the bank following the results of the meeting of shareholders at website Center for Disclosure of Corporate Information.
As stated in the message, the decision was made due to the lack of net profit from VTB in 2022. Against the backdrop of sanctions, the bank faced losses in the amount of 756.8 billion rubles. under RAS (613 billion rubles under IFRS). In this regard, at the end of May, the VTB Supervisory Board recommended not pay dividends.
At the end of 2021, VTB also did not pay dividends in order to “ensure sustainable lending to corporate clients and financial institutions.” In 2023, the bank plans to return to positive financial results, to make a profit in the amount of 327 billion to 400 billion rubles. Group net income for January-April 2023 amounted to RUB 208.5 billion
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