In 1H 2020, VTB Group's net profit amounted to RUB 41.9 billion decreasing by 45.4% against the 6-month result in 2019 resulting from higher provisions. In the second quarter of 2020, the bank's net profit decreased by 93.1% to RUB 2.1 billion from RUB 30.3 billion a year earlier, the group informed.
In the first half of 2020, the group's total loan portfolio increased by 4.2% to RUB 11947.2 billion. The portfolio of retail loans increased by 7.0%, mainly due to a 10.8% increase in mortgage lending. The portfolio of retail loans increased by 3.1% to RUB 8.3 trillion; net of the FX component revaluation, the portfolio of retail loans decreased by 1.0%. The group's market share in the corporate and retail lending segments in Russia was 17.0% and 18.0% respectively (-1.2 p.p. and +0.6 p.p. for the 6-month period, respectively).
Customer deposits grew by 8.0% to RUB 11,852.4 billion in the first half of 2020 with an increase in both corporate and retail segments (+11.0% and +4.5%, respectively).
VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all the key segments of the financial market. In the CIS, the group is active in Armenia, Ukraine, Belarus, Kazakhstan, Azerbaijan. VTB's banks in Austria, Germany and France are operating as parts of the European sub-holding led by VTB Bank (Austria). Besides, the group has subsidiary and affiliate banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one VTB branch in China and India, two VTB Capital Plc branches in Singapore and Dubai.
