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Zadornov: Otkritie Bank will get more than 40 billion rubles in net profit in 2022 KXan 36 Daily News

Date: February 4, 2023 Time: 05:45:09

“By Russian standards, the group will definitely have more than 40 billion rubles of net profit based on the results of the current year,” the top manager said.

According to him, since mid-December, the bank and the group as a whole have abandoned all regulatory easing by the Bank of Russia.

According to the bank’s presentation, Otkritie’s assets at the end of the year amounted to 3.1 trillion rubles, the loan portfolio (before reserves) – 2.2 trillion rubles, client funds – 2.2 trillion of rubles.

Zadornov also indicated that the vast majority of the Otkritie Bank board of directors would leave, the last business day of the current composition being December 31. “New Year’s holidays are not the best time for a shift change, and we are practically leaving the vast majority of the bank’s board,” he said.

Zadornov explained that the new shareholder will make decisions about the group’s personnel.

At the same time, according to international financial reporting standards (IFRS), the profit of the Otkritie group in 2022 will exceed 10 billion rubles. The group’s business plan for 2023 includes a net profit according to IFRS at the level of 78.3 billion rubles.

Last week, the Bank of Russia sold a 100% stake in FC Otkritie Bank to VTB Bank, the country’s second-largest bank, for 340 billion rubles. Nothing will change for Otkritie Bank customers in the near future – VTB intends to maintain key products and services.

Otkritie Bank was reorganized through the Bank of Russia-controlled Banking Sector Consolidation Fund in August 2017. In January 2019 the rehabilitated Binbank was attached to it. In the summer of 2019, the regulator announced the completion of the Otkritie readjustment. In early August 2021, the regulator announced that it had started preparations for the sale of Otkritie Bank shares. At the end of April 2022, it became known about VTB’s plans to acquire it.

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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