VTB will receive more than 112 billion rubles in dividends from Otkritie – Kommersant
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Otkritie Bank will pay VTB dividends totaling RUB 112.4 billion. This decision was made by the bank’s sole shareholder, VTB PJSC.
“The payment of dividends is consistent with our general policy of centralized capital management at the group level and as an intra-group transaction will not affect the consolidated statements of VTB Group,” they said “Interfax” in the VTB press service.
According to the decision of the VTB Group, Otkritie will use the profit for the nine months of this year to pay the parent bank; it amounted to 49.9 billion rubles. (RUB 22.04 per ordinary share). VTB will also receive another 62.5 billion rubles as dividends. from the profit of previous years (RUB 27.58 per ordinary share).
In February 2023, the head of VTB Andrey Kostin reported, that the complete integration of Otkritie Bank into the structure of the VTB Group will take at least one and a half to two years. The head of VTB said that the bank plans to work with Otkritie under one brand, but is “in no hurry” to join. The Otkritie license will be handed over following the integration of the bank into the VTB group, noted Mr. Kostin.
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