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VTB plans to close deal to sell part of its blocked assets in June

VTB reported earlier that its net profit under IFRS in January - April 2024 fell by 2.4% year-on-year and amounted to $2.29 bln

MOSCOW, May 29. /TASS/. VTB expects to close a deal to sell part of its blocked assets to a third-party legal entity in June, First Deputy President and Chairman of VTB Board Dmitry Pyanov told reporters.

"The deal to sell part of our blocked assets to an external counterparty has not yet been implemented within April. We confirm that this transaction will be completed in June and will be included in the results of the second quarter," he said.

In February, Pyanov said that VTB estimates the volume of blocked assets as a result of sanctions against the bank at around 900 bln rubles ($10.05 bln).

VTB reported earlier that its net profit under IFRS in January - April 2024 fell by 2.4% year-on-year and amounted to 203.4 bln rubles ($2.29 bln). In April, the group earned 81 bln rubles ($910.78 mln), which is 32.1% more than in April 2023.

According to the report, as of April 30, the volume of the total loan portfolio before provisions amounted to 22.4 trillion rubles ($250,55 bln), increasing by 6.8% since the beginning of the year. Thus, loans to legal entities over four months grew by 8% to 15.1 trillion rubles ($168.76 bln). The growth of loans to individuals since the beginning of the year reached 4.4%, while the portfolio of retail loans reached 7.3 trillion rubles ($81.59 bln). The total funds of the Group's clients increased by 7.7% since the beginning of the year to 24.1 trillion rubles. ($269.35 bln).

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