VTB intends to receive 100 billion rubles in profit from sanctioned assets

2024-02-20T09:41:02.873Z

Highlights: VTB intends to receive 100 billion rubles in profit from sanctioned assets. In December, President Vladimir Putin said that Russian banks were showing stable and sustainable performance despite sanctions. VTB came under blocking Western sanctions in February 2022. The volume of assets frozen due to sanctions on VTB’s balance sheet was estimated at 900 billion ruble. The bank will work with frozen assets, including methods of conducting a special reorganization and pursuing a judicial strategy (claims to recover funds from its European subsidiaries)

In 2024, VTB intends to work with blocked assets simultaneously in four directions and receive a net profit from such operations in the amount of 100 billion rubles, said the first deputy chairman of the bank, Dmitry Pyanov.