VTB’s net profit for eight months amounted to 351.2 billion rubles. – Kommersant
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The net profit of VTB Group in August amounted to 25.9 billion rubles. according to international financial reporting standards (IFRS). At the end of eight months, the figure reached 351.2 billion rubles.
Profit before tax for eight months amounted to 429.6 billion, for August – 33.2 billion. Expenses for creating provisions for credit losses amounted to 137.4 billion rubles. and 31.6 billion rubles. respectively.
The group’s assets have grown by 14.7% since the beginning of the year (by 1.5% in August), to RUB 28 trillion. The volume of loans to legal entities before provisions increased by 13.4% since the beginning of the year and by 1.1% in August, to RUB 13.3 trillion. The volume of loans to individuals reached 6.5 trillion rubles. (+15.5% since the beginning of the year and +3.4% for August). Legal entities’ funds in the bank amounted to 12 trillion rubles. (+9.1% and -4.1%, respectively), funds from individuals – 8.5 trillion rubles. (+14.2% and +3%).
The head of VTB, Andrei Kostin, predicted in early September that the group would receive a record net profit of 420 billion rubles by the end of 2023. Dividend payments at the end of the year are “virtually excluded.” At the end of 2022, the group’s loss according to IFRS amounted to 613 billion rubles. because of sanctions.
Analysts at Expert RA expect the Russian banking sector’s profit for the year to be more than 3 trillion rubles, which is a third higher than the record of two years ago. However, other experts are already calling this assessment conservative.
About forecasts – in the material “Kommersant” “Banks have triple trillions”.
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