7/30/2021
MOSCOW, July 30 (Reuters) - VTB, will cease to own
a controlling stake in rail freight transportation firm
Rustranscom (RTC) within a year, Russia s second largest bank
told reporters, but did not disclose how this would happen.
VTB bought 50% plus one share in RTC, Russia s largest grain
railcar owner, for 29.6 billion roubles ($403 million) in 2019
when it was expanding in grain export infrastructure in Russia,
the world s largest wheat exporter. We have included a company that owns Rustranscom in the
list of companies held for sale, for disposal. We believe that
we will lose control of this company in the short term - on a
UPDATE 3-Russia s VTB bank to sell grain railcar firm to VTB holding company, sources say agriculture.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from agriculture.com Daily Mail and Mail on Sunday newspapers.
COVID-19 pandemic took toll on Russian banks VTB aims for 2021 net profit of 250-270 bln roubles (Adds background, detail)
MOSCOW, Feb 25 (Reuters) - Russia’s second-largest lender VTB on Thursday reported a 63% decline in net profit last year as the COVID-19 pandemic triggered a hike in provisions against bad debt but it said it aimed for record-high income in 2021.
State-run VTB saw its net profit shrink to 75.3 billion roubles ($1.02 billion). Before the coronavirus hit Russia’s economy, VTB had aimed to make up to 230 billion roubles in 2020.
VTB is now targeting net profit of 250-270 billion roubles in 2021, board member Dmitry Pyanov said, as the bank recovers from the pandemic hit. This year, VTB sees its retail loans growing above the market, which it expects to expand by 10%, and corporate loans to increase by 5%.