VTB's net profit for January-July decreased by 8.5%

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VTB's net profit for January-July decreased by 8.5%
August 30th. /MEDIA TALK/. On Friday, August 30, it became known that in the first seven months of this year, VTB's net profit decreased by 8.5% to 297.9 billion rubles. This is stated in the company's IFRS report.

The net profit of the institution decreased especially noticeably in July — by 41.6% compared to the same month in 2023, to 20.8 billion rubles. The company explained that the difference is due to the presence of a component in the data for the first half of last year "in the form of a positive revaluation of the structural currency position."


Photo: ru.freepik.com

The growth in the issuance of loans to individuals in January-July 2024 reached 10%, the portfolio of such products amounted to 7.7 trillion rubles. Loans to legal entities increased by 11.8% to 15.7 trillion. The volume of the total loan portfolio before deducting reserves is estimated at 23.4 trillion (+11.2% since the beginning of the year).

Dmitry Pyanov, First Deputy President and Chairman of the VTB Management Board, said that the results of January-July meet the expectations of the organization and confirm forecasts for "record profits" for 2024.

Recall that yesterday it was reported that VTB Private Banking topped the rating of the best banks in Russia for millionaires. The threshold for entry into the program is 15 million rubles.
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