MOSCOW, June 28. /TASS/. Net profit of VTB Group under International Financial Reporting Standards (IFRS) will exceed 250 bln rubles ($2.8 bln) in January-June 2024, First Deputy Chairman of the Management Board Dmitry Pianov told reporters.

"[Net profit] in the first three months of 2024 amounted to 122 bln rubles. Consequently, we will most likely close six months considering the deal (sale of part of blocked assets to a counterparty - TASS) with over 250 bln rubles. This is why the point that the second quarter will exceed the first one is true," he said.

Net profit of VTB Group under IFRS decreased by 3.2% in January-May 2024 year-on-year to 233.4 bln rubles ($2.7 bln), while in May the group earned 30 bln rubles ($348 mln), which is 7.7% lower than in the same period last year. Commenting on financial results for May and the first five months Pianov said that they align with expectations and bolster projections for record-breaking profits this year.