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Russia's VTB to recommend 2016 divs of 90 pct of RAS profit
March 9, 2017 / 12:41 PM / 8 months ago

Russia's VTB to recommend 2016 divs of 90 pct of RAS profit

MOSCOW, March 9 (Reuters) - The supervisory board of Russian bank VTB will recommend paying dividends of 90 percent of net profit according to Russian accounting standards for the bank’s 2016 results, Deputy Finance Minister Alexei Moiseev said on Thursday.

VTB Chief Financial Officer Herbert Moos said in January that state-controlled VTB could pay 2016 dividends of 90 percent of net profit according to international reporting standards.

Moiseev, who is a member of VTB’s supervisory board, said the bank’s 2016 dividend payments could be equal to a little over 100 percent of net profit according to international reporting standards. (Reporting by Elena Fabrichnaya; Writing by Alexander Winning; editing by Polina Devitt)

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