Business
Russia’s VTB posts 1.8% y/y net profit drop in Jan–April
Russia’s VTB posts 1.8% y/y net profit drop in Jan–April
About this update from Vtb
Russia's second-largest lender VTB on Thursday reported an 1.8% year-on-year decline in its net profit for January to April to 162.8 billion roubles ($2.28 billion).Net profit for April 2026 rose by 24.3% year-on-year to 30.2 billion roubles, the bank said."Overall, the month produced a decent result, but don't expect anything particularly outstanding," first deputy CEO Dmitry Pyanov said.The bank's net profit target for 2026 is 600 billion to 650 billion roubles, Pyanov said, adding that in 2027 to 2029 VTB "will be aiming for 1 trillion roubles".($1 = 71.4000 roubles)