Kostin said VTB shareholders that remain afloat is not so bad – RIA Novosti

MOSCOW, June 24 – RIA Novosti. The head of VTB Andrey Kostin at the annual meeting of shareholders told investors the conditions under which the second Russian bank assets can wait for death, VTB expects to reach pre-crisis levels of profit and why “stay afloat” – this is a good result for the bank

Kostin admitted that he was dissatisfied with the results of the bank in 2015 and they could be better, but pointed to those who worked less

“To be fair, just say: under RAS total profit of the banking sector amounted to 192 billion rubles, of which the Savings bank – 218 billion rubles, VTB – 49 billion rubles, while all other banks – minus 75 billion . All the major banks in the country – the Agricultural bank, Gazprombank, VEB – all showed negative It’s about something he said that the situation in the country is not the most prosperous and the whole banking sector showed a loss-making, and in these circumstances, our preservation afloat. that we showed a small profit, I think – a good result “, – said the head of VTB

On the profit in 2015 was influenced by higher key rate of the Central Bank, which led to an increase in funding costs and higher interest expenses.. Thus, net interest income did not cover the expenses for reserves. In the context of a significant drop in GDP the financial condition of borrowers has deteriorated, leading to losses. Last year, VTB was forced to create reserves for possible loan losses in the amount of 178 billion rubles.

VTB expects to reach pre-crisis levels of profit in the coming years, which will help increase the efficiency of the bank and improving the macro.

“it would be wrong to reduce all to an external factor. We are seriously working on it. and the board and management of the bank, of course, should analyze their activities. We see serious reserves in our work to reduce non-performing loans and a decrease in losses that the bank is, to reduce costs, to increase the internal rate of return of our operations and the growth of the loan portfolio … I think that in the aggregate due to improved work management, plus an external factor that will certainly improve, the bank will restore its profitability and will be released in the coming years pre-crisis level, “- said the head of VTB

what does the bank can wait for the death

VTB can not go to the Crimea market: this would entail immediate tough sanctions that would lead Russia’s second largest bank.? to collapse, Kostin said, answering the question of shareholders.

“The sanctions that are imposed on VTB Bank, complicating the work, of course, but the sanctions that may be imposed for the work in the Crimea, -.. They are ten times harder Suppose trillion of our assets abroad – they are simultaneously being arrested, frozen. frozen all our accounts blocked … Very severe sanctions for such a bank as VTB, will mean the death of the bank. We’re just not able to work “, – he stated.

” Bank “Russia” can work, SMP Bank can and other banks, smaller they do not have an international business to VTB Bank, this will mean the bank’s end you will have to part with all of its shares, just forget the 5 cents they cost 10 cents -…. nothing will cost “- he said the VTB head

Thank you from VTB Sberbank

Kostin thanked the head of Sberbank German Gref, because he has sent.” disgruntled profit “Sberbank shareholders in VTB.

“I am grateful to Herman Oskarovich that he made in this case, such an agitator. We will be glad if Sberbank shareholders will come to us “, – he said

Kostin thanked the shareholders for them.” Patience “, promised that he would try to do better.” I very much appreciate the participation of our shareholders, satisfied, dissatisfied – no difference. We did not expect the meeting to listen to just some nice words. I am very grateful that our shareholders really patient. I promise that we will try to work better for you not to disappoint our subsequent meetings, “- said VTB Head

.” Not in a hurry to leave the VTB, we are glad to see you here, we will continue to you have to work “-. said Kostin He assured that the lifting of sanctions from the bank will lead to simultaneously increase shares by 25%

The reluctance to engage in public relations

Several VTB shareholders, speaking at the meeting. , drew attention to the inconvenience of internet services and mobile bank applications, including “VTB 24″. One of the shareholders proposed to follow the example of the Savings Bank, and to develop technologies to remain competitive.

Kostin noted that he considers the level of ATM and technologies that are used in the VTB banking group offices, not inferior to competitors. at the same time “achievements demonstrate PR to do, to show what is really there,” the bank, according to him, does not want.

“Ahead it is not necessary to run the engine. They (the bank technology – ed.) Are worth a lot of money and you can be in a situation where it is not yet in demand by society. Therefore, I hope that we do not fall behind technologically, in general, we do not lag behind. But what we need to improve in many areas of technology, especially in retail, I agree, we’ll do it “-. He added

Kostin also said that the new vice-chairman will be in VTB, which will be engaged only in the group of technologies

in addition, Kostin challenged Gref, said that the investment units of the group -. “VTB Capital” – not in Russia competition “today we have created a leading investment bank -”. VTB Capital “, which you have heard, takes from 40% to 50% of the market, and this is because in Russia today, we have no competitors, and foreign banks, including the uS, a few have left the Russian, even seriously,” – He said the head of VTB.

Now we wait than to answer the head of Sberbank and plead there for “Sberbank CIB”.