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VTB Group posts record profit under IFRS worth $4.6 bln for 2023

The group’s net profit in the fourth quarter of 2023 reached $605 mln

MOSCOW, February 20. /TASS/. VTB Group received record net profit under International Financial Reporting Standards (IFRS) in the amount of 432.2 bln rubles ($4.6 bln) for 2023 following loss for the previous year, First Deputy Chairman of the Management Board Dmitry Pianov said.

"We will close 2023 with net profit worth 432.2 bln rubles," he told reporters, adding that this is an all-time high in terms of VTB profit. The group’s net profit in the fourth quarter of 2023 reached 55.9 bln rubles ($605 mln).

Concurrently, the group has revised upwards its record loss for 2022 - from 612.6 bln rubles to 667.5 bln rubles ($7.2 bln at the current exchange rate). "Previously we posted loss worth 612.6 bln rubles, whereas now it amounts to 667.5 bln rubles," Pianov said.

Despite record profit of 2023, VTB’s management still plans to offer shareholders not to pay dividends for last year, he added.

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