Report
Evgeniy Kipnis

VTB Bank: April and 4M 20 IFRS results – neutral-to-positive

VTB (U/R) reported its April 2020 financials. The bottom line was under pressure from an F&C drop, non-core losses and credit loss provisions. At the same time, NIM resiliency (supported by cheaper funding) helped the bank to remain P&L-positive. Provisioning in April was not materially higher than in 1Q20, which is a good news, but on the other hand might suggest less degree of conservativeness vs Sberbank. We still might see further pick-up in coming months, while the scale of credit losses...
Underlying
VTB Bank OJSC

Provider
Tellimer
Tellimer

Tellimer provides an integrated suite of services focused on the world's developing markets. It offers world class investment research and local insights; end-to-end content distribution and analytics; market execution and corporate access; brokerage services across Fixed Income and Equities; and expert advisory services.

Tellimer is headquartered in London, UK, with additional offices in Dubai, Lagos, Nairobi, New York and Singapore. It is a division of Exotix Partners LLP.

Analysts
Evgeniy Kipnis

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