November 19, 2019 / 8:01 AM / 2 months ago

Russia's VTB to meet net 2019 profit target, pay half out in dividends - CEO

MOSCOW, Nov 19 (Reuters) - Russia’s state bank VTB expects to meet its net profit forecast of 200 billion roubles ($3.1 billion) this year and to pay half of that in dividends, “unless there are any surprises,” Chief Executive Andrey Kostin told Reuters.

“It is premature to say but they (surprises) may arise,” Kostin said. Citing one example, he said the government was considering partially writing off defence sector loans that banks have made.

“For VTB, this is directly linked to the need for additional capital,” Kostin said.

VTB, controlled by the government, does not plan to ask the state for a capital injection, he said, something it had benefitted from previously.

“We can always solve the capital shortage issue (if it arises) by (adjusting) dividends,” Kostin said. ($1 = 63.8760 roubles) (Reporting by Tatiana Voronova and Katya Golubkova; Editing by Kirsten Donovan)

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