VTB could return to paying dividends in the future — CEO
Andrey Kostin stressed that the dividends are determined by the annual meeting, where the government holds the controlling stake
MOSCOW, April 22. /TASS/. Head of VTB Bank Andrey Kostin hopes that the bank would once again be able to pay dividends in the future.
"Dividends are not determined by us. They are determined by the annual meeting, where the government holds the controlling stake," Kostin said in an interview with Rossiya 24 TV channel. "The opinion of the Governor of the Bank of Russia and the Finance Minister today is that banks should not pay dividends, because they need additional capitalization. In these conditions, I think that my opinion may no longer be considered, but I understand the concerns, I feel responsibility to our shareholders. Let's hope that in the future the situation will change, and we will still be able to pay dividends," he added.
Earlier, the Bank of Russia recommended that non-credit financial institutions and banks that comply with capital adequacy ratios refrain from paying dividends in 2022.