MOSCOW, April 25. /TASS/. Net profit of VTB Group under International Financial Reporting Standards (IFRS) amounted to 122.4 bln rubles ($1.3 bln) in Q1 2024, down by 17% year-on-year, according to financial results. Q1 net profit of the group totaled 147.2 bln rubles ($1.6 bln at the current exchange rate).

"VTB Group posted a net profit of 122.4 billion rubles for 1Q 2024, a 16.8% decline from the previous year, stemming from uneven FX gains and one-off effect from RNCB acquisition," VTB said.

As of March 31, 2024, VTB Group’s assets amounted to 31.1 trillion rubles ($338 bln), up by 6% year-to-date. Total loan book before loan loss provisions equaled 22.1 trillion rubles ($240 bln), up by 5.4% since the start of the year. Loans to legal entities increased by 6.8% in Q1 to 15 trillion rubles ($163 bln). At the year’s start, year-on-year growth in loans to individuals slowed down to 2.6% by the end of 1Q, with the retail loan portfolio reaching 7.2 trillion rubles ($78 bln).