VTB Group's net profit under IFRS amounted to RUB 29.7 and 404.7 billion in October and 10 months of 2024, an increase of 10.4% and 0.4% compared to the same periods last year. This is stated in the bank's message.
Net operating income before reserves amounted to RUB 78.9 billion for October 2024 and RUB 849.2 billion for 10 months of 2024, a decrease of 10.3% and 11.1% compared to the same periods last year. Net interest income decreased by 54.6% in October and by 28.9% in the 10 months of 2024 and amounted to RUB 29.1 billion and RUB 451.3 billion. for the corresponding current accounting periods. The net interest margin was 1.1% in October (2.9% in October 2023), 1.9% for 10 months of 2024 against 3.1% for the same period last year. Net fee and commission income increased by 41.5% in October 2024 compared to the same period last year and amounted to RUB 29.0 billion. In the 10 months of 2024, net fee and commission income increased by 20.6% year-on-year and amounted to RUB 215.6 billion.
The total loan portfolio before deduction of reserves as of October 31, 2024 amounted to RUB 24.1 trillion, an increase of 1.5% in October and by 14.7% since the beginning of the year.
Loans to legal entities increased by 2.5% in October and by 17.2% in 10 months of this year to RUB 16.4 trillion. Loans to individuals decreased by 0.4% in October, according to the results of 10 months of 2024, the accumulated growth in retail lending amounted to 9.7%, the portfolio of retail loans reached 7.7 trillion rubles. as of October 31, 2024. The retail share in the group's total loan portfolio as of October 31, 2024 was 32% (33% as of December 31, 2023).
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.
