Exec: VTB posts record IFRS net profit of 147 bln rbl in JanMar - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Exec: VTB posts record IFRS net profit of 147 bln rbl in JanMar

MOSCOW, Apr 27 (PRIME) -- Russias second largest bank VTB posted a net profit of 146.7 billion rubles in JanuaryMarch as calculated under International Financial Reporting Standards (IFRS), hitting a record quarterly net profit, deputy CEO Dmitry Pyanov told reporters on Thursday.

The net profit for the first quarter is 146.7 billion rubles, it comprises 144 billion rubles from continuous operations and 2.5 billion rubles from operations that are shutting down, into which we included the profit of RGS (Rosgosstrakh) Group that we listed as for sale, he said.

The net interest income of the bank amounted to 173 billion rubles, which accounts for the net interest margin of 3.1%, and net fee and commission income reached 42 billion rubles. Other net operating income reached 88 billion rubles, he said.

Given the results, the banks forecasts that it would post the net profit of 2023 of more than 327 billion rubles and less than 400 billion rubles, he said.

Spending on reserves under IFRS amounted to 50 billion rubles in JanuaryMarch.

Lending to individuals grew by 4.2% in the quarter to 5.8 trillion rubles, while the corporate loan portfolio expanded by 2.9% to 12.1 trillion rubles.

Corporate deposits with the bank rose by 10% to 12.2 trillion rubles, while deposits of individuals gained 4.1% to 7.7 trillion rubles, Pyanov said.

VTB Banks net profit for the period calculated under Russian Accounting Standards (RAS) reached 99.9 billion rubles, he said, adding that the capital adequacy ratio stood at 6.5%.

Pyanov also said that VTB Bank would not be obliged to make a one-time contribution to the Russian federal budget because it posted a net loss in 2022.

(81.6274 rubles U.S. $1)

End

27.04.2023 10:24
 
 
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