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JSC VTB Bank: VTB Group announces IFRS financial results for November and 11M 2020

·5-min read

JSC VTB Bank (VTBR)
29-Dec-2020 / 08:00 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

VTB Group announces IFRS financial results for November and 11M 2020

VTB Bank, the parent company of VTB Group (the "Group"), today publishes its unaudited consolidated IFRS financial results for November and the first 11 months of 2020.

Andrey Kostin, VTB President and Chairman of the Management Board, said: "Our performance in November and 11 months of the year is in line with our updated forecasts for 2020, which includes the negative economic impact of the coronavirus pandemic on our profitability.

"VTB's net profit in November amounted to RUB 5.4 billion. In 11M 2020, the Group earned RUB 69.9 billion, which corresponds to ROE of 4.5%. Even taking into account the drop in transactional activities in spring, we have achieved excellent operating performance and robust growth of business volumes and our customer base. I am confident that the considerable provisions created this year will enable VTB Group to return to our strategic track to profitability going forward."

In 11M 2020, the Group demonstrated excellent operating performance and strong business growth

Profitability metrics were under pressure in the context of the COVID-19 pandemic against a backdrop of higher provisions and a revaluation of investment properties, while core banking income has demonstrated robust growth

 

Attachment

File: VTB Group IFRS 11M2020 Financial Highlights

ISIN:

US46630Q2021

Category Code:

MSCM

TIDM:

VTBR

LEI Code:

253400V1H6ART1UQ0N98

Sequence No.:

90463

EQS News ID:

1157669


 

End of Announcement

EQS News Service

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