Earnings Report /
Russia

VTB Bank: (E/W) – 7M21 IFRS results – MODERATELY POSITIVE

  • VTB (VTBR RX: E/W; TP RUB0.04) reported its July and 7M21 IFRS numbers

  • VTB continues to be on track to its 2021 net income target (RUB295bn), implying the required monthly net income run-rate

  • Operating costs grew 10% y/y in July, expectedly accelerating vs 9% y/y in Q2

Evgeniy Kipnis
Evgeniy Kipnis

Senior Banking/Consumer Analyst

Alfa
30 August 2021
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