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VTB Group receives record-breaking IFRS 1H net profit of $3.22 bln

VTB also predicts a further increase in the key rate of the Bank of Russia, its maximum value this year may reach 9.5%, Dmitry Pyanov noted

MOSCOW, July 27. /TASS/. VTB Group's net profit under IFRS in the first half of 2023 reached a record-breaking 289.8 bln rubles ($3.22 bln), Deputy President - Chairman of the VTB Management Board Dmitry Pyanov said on Thursday.

"The net profit for the second quarter reached 142.6 bln rubles, while the results for the first half of 2023 were 289.8 bln rubles. These are historical highs for the first half of the year and correspond to a return on capital of 32.8%, which we have never exhibited before," he said.

He added that at the end of 2023, VTB Group is targeting net profit at the level of about 400 bln rubles ($4.44 bln) under IFRS, however, these values may be "slightly exceeded."

VTB also predicts a further increase in the key rate of the Bank of Russia, its maximum value this year may reach 9.5%, Pyanov added.

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