MOSCOW (Reuters) – Russia’s second largest lender VTB expects 2025 profit to be 400 billion roubles ($3.76 billion) next year, down from 550 billion this year, due to the central bank’s tight monetary policy, VTB’s CEO Andrei Kostin told Reuters in an interview. “We expect a decrease in profit due to a reduction in the […]
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Exclusive-Russia’s VTB expects 2025 profit at 400 billion roubles
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MOSCOW (Reuters) – Russia’s second largest lender VTB expects 2025 profit to be 400 billion roubles ($3.76 billion) next year, down from 550 billion this year, due to the central bank’s tight monetary policy, VTB’s CEO Andrei Kostin told Reuters in an interview.
“We expect a decrease in profit due to a reduction in the growth of the loan portfolio. Going forward, we will have discussions with the central bank,” Kostin said, stressing that the regulator’s measures to curb lending were hurting.
“We simply won’t be able to issue more loans physically. And, of course, our income will no longer be as high,” Kostin said.
($1 = 106.4955 roubles)
(Reporting by Gleb Bryanski; Editing by Andrew Osborn)