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Top related persons:
VTB - 2 Dmitry Pyanov - 1 Pyanov - 1 Elena Fabrichnaya - 1 Alexander Marrow - 1 Jason Neely - 1 — - 1 Andrei Kostin - 1
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Russia Ukraine Ukraine MOSCOW Bank of Russia Reuters Beijing China Russian Washington
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Bank of - 1 Thomson - 1 Russia's VTB Bank - 1 Service - 1 US - 1 Russia - 1

Search resuls for: "Russia's VTB Bank"


5 mentions found


☆ Russia's VTB Bank nearing record profits as lending picks up
  + stars: | 2023-07-27 | by ( Elena Fabrichnaya | ) www.reuters.com   time to read: +2 min
2 lender VTB (VTBR.MM) remains on track for record profits this year, CFO Dmitry Pyanov said, anticipating a further rise in lending and improving the bank's forecast for return on equity to above 20% for 2023. The bank posted 142.6 billion roubles ($1.58 billion) in second-quarter net profit on Thursday and said returns for the year as a whole could exceed 400 billion. VTB did not provide comparative figures as banks were ordered to limit disclosures in 2022. "The target may be higher than 400 billion roubles...I admit that it won't be exactly 400, but it won't be rounded up to 500 - you should not expect this. Pyanov said VTB would issue "replacement bonds" for three Eurobond issues, two denominated in dollars, and one in Swiss francs.
Persons: VTB, Dmitry Pyanov, Pyanov, Elena Fabrichnaya, Alexander Marrow, Jason Neely Organizations: Bank of, Thomson Locations: Russia, Ukraine MOSCOW, Ukraine, Bank of Russia
☆ A top Russian banker says the dollar's dominance is ending — but China's yuan is gaining prominence
  + stars: | 2023-06-15 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
The CEO of Russia's VTB Bank said the US dollar's dominance is ending, but the yuan could be on the rise. His comments come as VTB, Russia's second-largest bank by assets, is discussing settling trade transactions using the yuan with countries outside China. The debate is fanned by fears that Washington is weaponizing the US dollar-denominated global financial system against Russia over the Ukraine war. VTB posted a loss of $7.7 billion in 2022 due to Western sanctions against Russia. But the bank expects to post record profits in 2023 after acquiring a rival Russian bank, Reuters reported in April.
Persons: —, Andrei Kostin, Kostin, Russia's, Washington, VTB Organizations: Russia's VTB Bank, Reuters, Service, US, Russia Locations: Reuters Beijing, China, Russian, Russia, Ukraine, Washington
☆ Russian state bank VTB blames 2022 losses on sanctions -CEO
  + stars: | 2023-02-07 | by ( Elena Fabrichnaya Alexander Marrow | Elena Fabrichnaya | Alexander Marrow | ) www.reuters.com   time to read: +2 min
The West blocked several major Russian banks' access to the international SWIFT payments system soon after Moscow sent tens of thousands of troops into Ukraine on Feb. 24 last year, with dominant lenders Sberbank (SBER.MM) and VTB (VTBR.MM) - Russia's No. 2 bank - forced to shutter operations across much of Europe. Kostin, in an interview with state television channel Rossiya 24, said the bank had managed to grow its retail and corporate loan portfolios, but that sanctions accounted for all the lender's losses. VTB was forced to buy FX on the open market when the rouble had weakened sharply to more than 100 against the dollar, Kostin said. VTB was profitable in January and hopes to post profits in 2023 with a similar number of zeroes as the 320-billion-rouble figure achieved in 2021, Kostin said.
☆ Russia's VTB Bank opens 'vostro' account at Indian branch
  + stars: | 2022-10-26 | by ( ) www.reuters.com   time to read: +1 min
SummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Oct 26 (Reuters) - Russia's No.2 lender VTB (VTBR.MM) on Wednesday said it had opened a special "vostro" account at its Indian branch that would allow for the more active use of Indian rupees in payments under import and export contracts between Russia and India. It follows a similar move by Russia's dominant lender Sberbank (SBER.MM), which on Monday said it was offering clients "vostro" accounts in rupees, aiming to facilitate clients in carrying out rupee-denominated trade transactions which are increasing due to western sanctions. Both state-run banks have obtained permission to open vostro accounts - which a local correspondent bank holds on behalf of a foreign bank - from the Reserve Bank of India (RBI), which earlier this year to put in place a mechanism to facilitate international trade in rupees. The measure was seen as aiding business ties with Russia in case of more stringent Western sanctions against Moscow. Reporting by Alexander Marrow; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.
☆ 3 ways China and Russia are forging much closer economic ties
  + stars: | 2022-09-15 | by ( Laura He | Cnn Business | ) edition.cnn.com   time to read: +10 min
Beijing has carefully avoided violating Western sanctions or providing direct military support to Moscow. For the first eight months of this year, total goods trade between China and Russia surged 31% to $117.2 billion. "Russia needs China more than China needs Russia," said Keith Krach, former Under Secretary of State for Economic growth, Energy and the Environment in the United States. For China, Russia now accounts for 2.8% of its total trade volume, slightly higher than the 2.5% share at the end of last year. "Russia's war in Ukraine is not in China's interest, but given Western hostility, China will not oppose Russia," she added.
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