VTB Group announces IFRS results for 6M 2021
Net interest income amounted to RUB 306.0 billion in 1H 2021 and RUB 160.4 billion in 2Q 2021, increasing 21.4% and 21.2% year-on-year, respectively.
JSC VTB Bank (VTBR) VTB Group announces IFRS results for 6M 2021 Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. VTB Group announces IFRS results for 2Q 2021 VTB Bank ("VTB" or "the Bank"), the parent company of VTB Group ("the Group"), today publishes its Interim Condensed Consolidated Financial Statements for the three months and six months ended 30 June 2021, along with the independent auditor's report on these statements. Dmitry Pianov, a member of the Management Board and Chief Financial Officer of VTB Bank, said: "In 1H 2021, VTB Group achieved a record net profit of RUB 170.6 billion, delivering a return on equity of 18.5%. Key banking revenues - net interest income and net fee and commission income - demonstrated remarkable year-on-year growth of 21% and 38%, respectively. "On the back of improved performance and owing to a successful programme to raise hybrid equity, VTB expanded its business in targeted segments and improved its capital position: its total capital adequacy ratio grew by 60 bp since the beginning of the year to 12.4%. "Our successful performance in 1H 2021 has enabled us to increase our full-year net profit guidance to RUB 295 billion. Achieving this bottom line will lay a solid basis for the sustainable growth of VTB's shareholder value."
Financial highlights
Business volumes grow accompanied by an increase in the share of retail lending
Income statement
(1) Includes provision charge for credit losses on debt financial assets, provision charge for credit losses on credit-related commitments and other financial assets, and provision charge for legal claims and other commitments.
Substantial improvement in profitability amid a strong increase in key banking revenues and stabilisation of the loan book quality
CORPORATE-INVESTMENT BUSINESS Investment banking leadership
Continued growth of the investment platform VTB Capital Investments
Development of digital services of Corporate-investment business
MEDIUM AND SMALL BUSINESS
RETAIL BUSINESS
Business digitalisation and the development of a digital ecosystem
Attachment File: VTB Group 6M 2021 IFRS Report |
ISIN: | US46630Q2021 |
Category Code: | MSCM |
TIDM: | VTBR |
LEI Code: | 253400V1H6ART1UQ0N98 |
Sequence No.: | 118820 |
EQS News ID: | 1222912 |
End of Announcement | EQS News Service |
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