VTB Group's net profit under IFRS in the first quarter of 2024 amounted to 122.4 billion rubles, which is 17% less than the same period last year. This is stated in the bank's message.
VTB Group's assets as of March 31, 2024 amounted to 31.1 trillion rubles, an increase of 6% since the beginning of the year. The volume of the total loan portfolio before deducting reserves amounted to 22.1 trillion rubles, showing an increase of 5.4% since the beginning of the year. Loans to legal entities increased by 6.8% in the first quarter, to RUB 15 trillion. The growth in lending to individuals amounted to 2.6% in the first three months. The portfolio of retail loans reached RUB 7.2 trillion.
Net operating income before reserves for the first quarter of 2024 amounted to 269.9 billion rubles, decreasing by 12.2% year-on-year. Net commission income for the first quarter of 2024 increased by 23.1% year-on-year and amounted to 51.7 billion rubles.
The total funds of VTB Group customers have increased by 3% since the beginning of the year, to RUB 23 trillion. The growth of funds of clients - legal entities since the beginning of the year amounted to 2%, up to 13 trillion rubles. The volume of funds of individual clients increased by 4.2% in the three months of this year, exceeding 10 trillion rubles.
Personnel and administrative expenses for the first quarter of 2024 amounted to 99.4 billion rubles, an increase of 23.5% year-on-year.
Also in the first quarter of this year, the group created reserves of RUB 28.6 billion, which is 41% less than in the same period a year earlier.
VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all major segments of the financial market. In the CIS countries, the group is represented in Armenia, Ukraine, Belarus, Kazakhstan, and Azerbaijan. VTB banks in Austria, Germany and France operate within the framework of a European sub-holding headed by VTB Bank (Austria). In addition, the group has subsidiaries and associated banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one branch of VTB Bank in China and India, two branches of VTB Capital Plc in Singapore and Dubai.
