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VTB reported record profit

MOSCOW, Apr 19 – PRIME. VTB Group’s net profit in the first quarter of 2021 amounted to a record 85.1 billion rubles, which is 2.1 times higher than the result for the same period last year and more than for the whole of 2020, VTB board member Dmitry Pyanov told reporters. up to 5.8% on preferential mortgages for new buildings According to him, one of the factors of such great profitability is the relatively low reserves. In the first quarter, the group’s reserves for credit losses and other reserves amounted to 22.6 billion rubles, which is two times lower than in the same period last year. “Record quarterly net profit in the entire history of VTB. The size of this net profit is 85.1 billion rubles … This net profit for the quarter is more than all net profit for 2020. Do you remember that we earned a little more than 75 billion rubles last year.” – said the top manager. Net profit turned out to be better than the consensus forecast compiled by RIA Novosti based on a survey of analysts: they expected that VTB will earn 79 billion rubles. Spending on reserves, on the contrary, turned out to be worse than analysts’ expectations: they predicted them at the level of 20.6 billion rubles. VTB plans to earn RUB 250-270 billion in net profit under IFRS in 2021.

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