Russia’s VTB forecasts record $6.4 bln profit in 2024 on corporate loan growth

Russia’s second-largest lender VTB (VTBR.MM), opens new tab expects to make a record profit of up to 550 billion roubles ($6.39 billion) in 2024, CFO Dmitry Pyanov said, boosted by strong growth in corporate loans, its most profitable lending segment.

VTB’s 2023 profit of 432.2 billion roubles was also a record, as the bank rebounded from a sanctions-induced loss of 667.5 billion roubles as it was cut off from the SWIFT global financial messaging system.

Source: REUTER