MOSCOW, July 30. /TASS/. Net profit of VTB Group under International Financial Reporting Standards (IFRS) may total around 550 bln rubles ($6.3 bln) in 2024, First Deputy Chairman of the Management Board Dmitry Pianov told reporters.

"We will upgrade the net profit target from 435 bln rubles to 550 bln rubles," he said.

The net profit target contains 108 bln rubles ($1.2 bln) worth of effect from the work with frozen assets, Pianov added. "A total of 16 bln rubles has already been realized, consequently, 92 bln rubles are subject to realization as formation of a special financial entity out of VTB by the end of the year," he said.