Loading...

VTB Bank

LSE:VTBR
Snowflake Description

Excellent balance sheet, good value and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VTBR
LSE
$8B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

VTB Bank (public joint-stock company), together with its subsidiaries, provides various banking products and services in Russia, OECD, and internationally. The last earnings update was 51 days ago. More info.


Add to Portfolio Compare Print
VTBR Share Price and Events
7 Day Returns
-1.9%
LSE:VTBR
3.1%
GB Banks
1%
GB Market
1 Year Returns
-39.6%
LSE:VTBR
-6.9%
GB Banks
1.6%
GB Market
VTBR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
VTB Bank (VTBR) -1.9% -3.3% -6.7% -39.6% -45% -43.7%
GB Banks 3.1% 3.6% 7.4% -6.9% 17.4% -11.6%
GB Market 1% 2.3% 8.6% 1.6% 14% 5.9%
1 Year Return vs Industry and Market
  • VTBR underperformed the Banks industry which returned -6.9% over the past year.
  • VTBR underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.6% over the past year.
Price Volatility
VTBR
Industry
5yr Volatility vs Market

Value

 Is VTB Bank undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of VTB Bank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for VTB Bank.

LSE:VTBR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 7 analysts.
= Stable Book Value * Return on Equity
= RUB177.59 * 12.4%
RUB22.01
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. RUB177.59
Discount Rate (Cost of Equity) See below 20.1%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:VTBR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 9.4%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.591 (1 + (1- 20%) (465.72%))
2.202
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (2 * 9.43%)
20.09%

Discounted Cash Flow Calculation for LSE:VTBR using Excess Returns Model Model

The calculations below outline how an intrinsic value for VTB Bank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:VTBR Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.4% – 20.09%) * RUB177.59)
RUB-13.67
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= RUB-13.67 / (20.09% - 1.23%)
RUB-72.46
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= RUB177.59 + RUB-72.46
RUB105.13
LSE:VTBR Discount to Share Price
Calculation Result
Exchange Rate RUB/USD
(Reporting currency to currency of LSE:VTBR)
0.016
Value per Share
(USD)
= Value per Share in RUB x Exchange Rate (RUB/USD)
= RUB105.13 x 0.016
$1.64
Value per share (USD) From above. $1.64
Current discount Discount to share price of $1.17
= -1 x ($1.17 - $1.64) / $1.64
29.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price VTB Bank is available for.
Intrinsic value
29%
Share price is $1.17 vs Future cash flow value of $1.64
Current Discount Checks
For VTB Bank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • VTB Bank's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • VTB Bank's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for VTB Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are VTB Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:VTBR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in RUB RUB25.99
LSE:VTBR Share Price ** LSE (2019-04-18) in USD $1.17
LSE:VTBR Share Price converted to RUB reporting currency Exchange rate (USD/ RUB) 63.95 RUB74.5
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.28x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 795 Publicly-Listed Companies 16.28x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of VTB Bank.

LSE:VTBR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:VTBR Share Price ÷ EPS (both in RUB)

= 74.5 ÷ 25.99

2.87x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VTB Bank is good value based on earnings compared to the GB Banks industry average.
  • VTB Bank is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does VTB Bank's expected growth come at a high price?
Raw Data
LSE:VTBR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 2.87x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
1.8%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.87x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 563 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

LSE:VTBR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 2.87x ÷ 1.8%

1.56x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VTB Bank is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on VTB Bank's assets?
Raw Data
LSE:VTBR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in RUB RUB155.46
LSE:VTBR Share Price * LSE (2019-04-18) in USD $1.17
LSE:VTBR Share Price converted to RUB reporting currency Exchange rate (USD/ RUB) 63.95 RUB74.5
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,365 Publicly-Listed Companies 1.52x
LSE:VTBR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:VTBR Share Price ÷ Book Value per Share (both in RUB)

= 74.5 ÷ 155.46

0.48x

* Primary Listing of VTB Bank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VTB Bank is good value based on assets compared to the GB Banks industry average.
X
Value checks
We assess VTB Bank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. VTB Bank has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is VTB Bank expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is VTB Bank expected to grow at an attractive rate?
  • VTB Bank's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • VTB Bank's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • VTB Bank's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:VTBR Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:VTBR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 1.8%
LSE:VTBR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 12.6%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.6%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.1%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:VTBR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in RUB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:VTBR Future Estimates Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 181,787
2021-12-31 800,555 182,585 3
2020-12-31 721,186 177,822 6
2019-12-31 646,740 187,230 2
LSE:VTBR Past Financials Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income *
2018-12-31 546,500 -243,000 168,200
2018-09-30 556,100 -139,900 171,800
2018-06-30 536,100 -144,700 149,100
2018-03-31 529,600 -296,000 138,000
2017-12-31 495,100 -202,700 110,500
2017-09-30 439,900 -517,600 81,900
2017-06-30 411,400 -304,200 83,400
2017-03-31 374,600 -476,700 67,500
2016-12-31 341,100 334,000 41,100
2016-09-30 332,500 -235,200 46,500
2016-06-30 317,800 -37,000 35,600
2016-03-31 292,400 656,300 17,300

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • VTB Bank's earnings are expected to grow by 1.8% yearly, however this is not considered high growth (20% yearly).
  • VTB Bank's revenue is expected to grow by 12.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:VTBR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from VTB Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:VTBR Future Estimates Data
Date (Data in RUB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 20.77 20.77 20.77 1.00
2021-12-31 24.20 28.30 19.76 3.00
2020-12-31 22.25 26.90 19.16 4.00
2019-12-31 20.01 24.00 12.59 3.00
LSE:VTBR Past Financials Data
Date (Data in RUB Millions) EPS *
2018-12-31 25.99
2018-09-30 26.56
2018-06-30 23.06
2018-03-31 21.35
2017-12-31 17.10
2017-09-30 12.67
2017-06-30 12.91
2017-03-31 10.45
2016-12-31 6.36
2016-09-30 7.20
2016-06-30 5.51
2016-03-31 2.68

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • VTB Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess VTB Bank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
VTB Bank has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has VTB Bank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare VTB Bank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • VTB Bank has delivered over 20% year on year earnings growth in the past 5 years.
  • VTB Bank's 1-year earnings growth exceeds its 5-year average (52.2% vs 34.6%)
  • VTB Bank's earnings growth has exceeded the GB Banks industry average in the past year (52.2% vs 42.2%).
Earnings and Revenue History
VTB Bank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from VTB Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:VTBR Past Revenue, Cash Flow and Net Income Data
Date (Data in RUB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 546,500.00 168,200.00 256,600.00
2018-09-30 556,100.00 171,800.00 258,700.00
2018-06-30 536,100.00 149,100.00 254,500.00
2018-03-31 529,600.00 138,000.00 253,600.00
2017-12-31 495,100.00 110,500.00 249,300.00
2017-09-30 439,900.00 81,900.00 236,000.00
2017-06-30 411,400.00 83,400.00 232,700.00
2017-03-31 374,600.00 67,500.00 227,600.00
2016-12-31 341,100.00 41,100.00 228,500.00
2016-09-30 332,500.00 46,500.00 226,500.00
2016-06-30 317,800.00 35,600.00 225,900.00
2016-03-31 292,400.00 17,300.00 221,500.00
2015-12-31 268,700.00 1,300.00 215,700.00
2015-09-30 279,700.00 -16,500.00 231,800.00
2015-06-30 263,200.00 -23,600.00 225,000.00
2015-03-31 267,800.00 -19,600.00 222,600.00
2014-12-31 271,900.00 -2,900.00 216,200.00
2014-09-30 289,300.00 55,300.00 195,000.00
2014-06-30 313,200.00 71,900.00 192,100.00
2014-03-31 313,800.00 83,000.00 188,600.00
2013-12-31 328,700.00 95,900.00 181,800.00
2013-09-30 305,200.00 69,700.00 173,900.00
2013-06-30 309,000.00 74,400.00 168,500.00
2013-03-31 297,400.00 77,400.00 161,200.00
2012-12-31 300,000.00 84,800.00 155,700.00
2012-09-30 276,200.00 71,000.00 153,400.00
2012-06-30 244,800.00 68,800.00 134,100.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • VTB Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • VTB Bank used its assets more efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if VTB Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess VTB Bank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
VTB Bank has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is VTB Bank's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of VTB Bank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from VTB Bank Company Filings, last reported 3 months ago.

LSE:VTBR Past Debt and Equity Data
Date (Data in RUB Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,523,000.00 2,246,600.00 1,908,600.00
2018-09-30 1,463,400.00 1,700,300.00 1,643,100.00
2018-06-30 1,439,600.00 1,738,100.00 1,873,000.00
2018-03-31 1,469,000.00 1,500,700.00 1,391,300.00
2017-12-31 1,479,700.00 1,585,900.00 1,620,500.00
2017-09-30 1,450,000.00 1,788,600.00 1,331,000.00
2017-06-30 1,432,300.00 1,929,000.00 1,240,500.00
2017-03-31 1,433,000.00 1,937,400.00 1,510,900.00
2016-12-31 1,412,900.00 2,547,100.00 1,448,900.00
2016-09-30 1,422,100.00 1,804,700.00 1,090,600.00
2016-06-30 1,397,600.00 2,032,900.00 1,195,100.00
2016-03-31 1,448,800.00 2,399,700.00 1,565,600.00
2015-12-31 1,454,100.00 3,430,200.00 1,427,100.00
2015-09-30 1,421,700.00 2,686,500.00 1,532,100.00
2015-06-30 1,086,900.00 2,904,700.00 1,397,700.00
2015-03-31 1,113,800.00 3,213,500.00 1,689,300.00
2014-12-31 1,131,000.00 3,225,600.00 1,737,300.00
2014-09-30 1,131,300.00 3,268,200.00 1,457,800.00
2014-06-30 934,000.00 3,363,300.00 1,510,400.00
2014-03-31 952,400.00 3,098,100.00 1,435,500.00
2013-12-31 947,100.00 2,379,600.00 998,600.00
2013-09-30 895,000.00 2,781,900.00 1,158,200.00
2013-06-30 876,900.00 2,665,800.00 1,550,600.00
2013-03-31 783,300.00 2,706,200.00 1,389,500.00
2012-12-31 766,100.00 2,424,000.00 1,479,200.00
2012-09-30 684,200.00 2,555,700.00 1,463,800.00
2012-06-30 629,400.00 2,322,400.00 1,187,500.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • VTB Bank has an acceptable proportion of non-loan assets held.
  • VTB Bank's liabilities are made up of primarily low risk sources of funding.
  • Loans at VTB Bank are broadly funded by customer deposits.
  • VTB Bank's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • VTB Bank has a sufficient allowance for bad loans.
  • VTB Bank has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess VTB Bank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. VTB Bank has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is VTB Bank's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
9.26%
Current annual income from VTB Bank dividends. Estimated to be 8.96% next year.
If you bought $2,000 of VTB Bank shares you are expected to receive $185 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • VTB Bank's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.01%).
  • VTB Bank's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.12%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:VTBR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:VTBR Future Dividends Estimate Data
Date (Data in RUB) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 8.15 3.00
2020-12-31 6.81 5.00
2019-12-31 5.66 5.00
LSE:VTBR Past Annualized Dividends Data
Date (Data in RUB) Dividend per share (annual) Avg. Yield (%)
2018-04-16 6.900 7.918
2017-04-27 2.340 1.983
2016-06-27 2.340 1.741
2015-08-18 2.340 1.667
2015-05-15 2.340 1.582
2014-11-21 2.320 1.911
2014-08-22 2.320 2.858
2014-06-20 2.320 2.853
2013-12-09 2.860 3.414
2013-09-12 2.860 3.228
2013-07-04 2.860 3.103
2013-05-24 2.860 3.025
2012-12-20 1.760 1.711
2012-09-24 1.760 1.662
2012-07-05 1.760 1.600
2011-12-09 1.160 0.922
2011-09-07 1.160 0.845
2011-07-18 1.160 0.758
2011-04-18 1.160 0.682
2011-02-14 1.160 0.605
2010-12-01 1.160 0.562
2010-06-10 1.160 0.668
2009-04-30 0.900 0.810
2009-04-20 29.750 47.592

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of VTB Bank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.5x coverage).
X
Income/ dividend checks
We assess VTB Bank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can VTB Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. VTB Bank has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of VTB Bank's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Andrey Kostin
AGE 62
TENURE AS CEO 16.8 years
CEO Bio

Mr. Andrey Leonidovich Kostin serves as the President of VTB Capital plc. Mr. Kostin served as the President of VTB BANK at VTB Capital Inc. Mr. Kostin founded the Russian Investment and Finance Company (RIFK, as the Russian acronym). He has been the Chairman of Management Board and President of VTB Bank (PJSC) since June 2002 and served as its Chief Executive Officer until June 9, 2017. He served as the Chairman of Management Board and President at CJSC VTB Bank (Belarus) since 2002. Mr. Kostin served as Member of the Management Board for Open Joint Stock Company International Bank of Saint-Petersburg. He served as the Chairman of the Management Board at Open Joint Stock Company International Bank of Saint-Petersburg (also knowm as, International Bank of Saint-Petersburg Public Limited Company (plc)) until March 2014 and served as its Member of The Management Board. He served as an Acting President of Open Joint Stock Company International Bank of Saint-Petersburg since November 26, 2008. He served as Senior Vice President of Moscow of Open Joint Stock Company International Bank of Saint-PetersburgOpen Joint Stock Company International Bank of Saint-Petersburg until November 26, 2008 and also served as its Vice President from 1999 to November 26, 2008. He served as the Chairman of the Management Board of the Bank of Foreign Trade since June 10, 2002. He served as the Deputy Head of the Managing Board at BaltUneximBank since 1998. From 1991 to 1998, Mr. Kostin served as a Deputy Head of the Corporate Finance Department at INCOMBANK (Moscow). From 1993 to 1995, Mr. Kostin served as Deputy Head of Foreign Investment Department of the Imperial Bank. He served as the Chief Executive Officer of the Bank of Foreign Trade since June 10, 2002. He served at the USSR Foreign Affairs Ministry from 1979 to 1992, at the USSR Consulate General in Australia from 1979 to 1982, at the USSR Embassy in the United Kingdom from 1985 to 1990. In 1992, he gained in-depth expertise in international economy and finance. He served as Chairman of the Management Board of Open Joint Stock Company International Bank of Saint-Petersburg since April 2009. He serves as the Chairman of the Supervisory Council at VTB 24 and VTB Bank Ukraine. He has been the Chairman of the Board at Joint Stock Commercial Bank - Bank Of Moscow (Open Joint Stock Company) since February 21, 2011. He has been the Chairman of the Supervisory Board at Bank VTB 24 since June 11, 2000. He served as the Chairman at Russian Commercial Bank (Cyprus) Ltd. He served as Chairman of RCB Bank Limited. He served as the Chairman of Vneshtorgbank since October 18, 1996. He served as the Chairman of Vnesheconombank from 1996 to 2002. He served as Chairman of Supervisory Council at JSC VTB Bank until July 13, 2007. He serves as Deputy Chairman of the Board of Directors at Rosneft. Mr. Kostin served as Deputy Chairman and Director of Open Joint Stock Company Rosneft Oil Company since June 20, 2013. He served as Deputy Chairman of Open Joint Stock Company Rosneft Oil Company since June 2009. He served as First Deputy Chairman of the National Reserve Bank since 1995. He served as a Director of OJSC International Bank of St. Petersburg since April 2009. He serves as a Director of Open Joint Stock Company International Bank of Saint-Petersburg’s Russian Museum Foundation. Mr. Kostin serves as a Director of OJSC “Sovkomflot“; and OJSC “United Aircraft Building Corporation“. Mr. Kostin has been a Member of Supervisory Council at JSC VTB Bank since June 2002. He served as a Member of Supervisory Council at CJSC VTB Bank (Belarus) since June 22, 2007. He served as a Member of Supervisory Board and Director of Bank VTB North-West OJSC (also known as Bank VTB Severo-Zapad OAO and Bank VTB North West). He served as a Director of United Aircraft Corporation. He served as an Independent Director at Pirelli & C. SpA since July 10 2014. He served as a Director of Public Joint Stock Company United Aircraft Corporation. He served as Independent Non Executive Director of Open Joint Stock Company Rosneft Oil Company since 2006 and also served as its Director since June 20, 2013. He serves as a Director of Bank of Moscow. He served as an Executive Director of the Direct Investment Division and Deputy Director of INCOMBANK branch in Ulyanovsk. He served as a Director of Bank VTB. He served as a Director of PAO Sovcomflot (also known as JSC Sovcomflot) from July 24, 2006 to June 29, 2010. He served as an Independent Director of Open Joint Stock Company Russian Railways from June 30, 2007 to February 4, 2010. He serves as the President of the Russian Sport Gymnastics Federation. He serves as the President of CIS Finance and Banking Council nonprofit organization. He serves as a Member of the Supervisory Board at Russian Volleyball Federation. He serves as a Member of the Management Board at National Council on Corporate Governance nonprofit partnership. He served as a Member of the Board of Russian Banks Association. He serves as a Member of the Bureau of the Board at Russian Union of Industrialists and Entrepreneurs. He serves as a Member of the Supreme Council at United Russia political party. He serves as Director of Graduate School of Management, St. Petersburg University. He serves as a Member of the Board of Trustees at Moscow State Institute of International Relations (MGIMO). He serves as a Member of the Board of Trustees at St. Petersburg University, Russian Government Financial University, Lomonosov Moscow State University and National Research University Higher School of Economics. He serves as a Member of the Board of Trustees at Fund for the Support and Development of Physical Culture and Sports of the Russian Federation (Sport Fund), Dynamo Hockey Club, Bolshoi Theatre, Friends of the Russian Museum development fund, Russian Orthodox Church Charitable Foundation for the Restoration of the Voskresensk Stavropegial Resurrection (New Jerusalem) Monaster and State Primorsky Opera and Ballet Theatre. His decorations include Order For Services to the Motherland (3rd and 4th class); Order of Honour and Order of Merit (France). In 1979, Mr. Kostin graduated, Degree in Economics, with Honors from the Lomonosov Moscow State University, qualified in International Economics and Political Economy and also has a Ph.D. degree in Economics from Russian Government Financial University in 2001.

CEO Compensation
  • Insufficient data for Andrey to compare compensation growth.
  • Insufficient data for Andrey to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the VTB Bank management team in years:

5.4
Average Tenure
49.5
Average Age
  • The average tenure for the VTB Bank management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Andrey Kostin

TITLE
President
AGE
62
TENURE
16.8 yrs

Denis Bortnikov

TITLE
Deputy President & Chairman of Management Board
AGE
44
TENURE
7.4 yrs

Andrey Puchkov

TITLE
First Deputy President & Chairman of Management Board
AGE
41
TENURE
10.3 yrs

Olga Dergunova

TITLE
Deputy President & Chairman of the Management Board
AGE
53
TENURE
2.8 yrs

Yuri Soloviev

TITLE
First Deputy President & Chairman of Management Board
AGE
48
TENURE
7.9 yrs

Valery Lukyanenko

TITLE
Deputy President & Chairman of Management Board
AGE
63
TENURE
2.7 yrs

Anatoly Pechatnikov

TITLE
Deputy President & Chairman of Management Board
AGE
49
TENURE
1.8 yrs

Dmitry Olyunin

TITLE
First Deputy President & Chairman of the Management Board
AGE
50
TENURE
1 yrs

Erkin Norov

TITLE
Member of Management Board
AGE
64
TENURE
9.6 yrs

Maxim Kondratenko

TITLE
Member of Management Board
AGE
45
TENURE
3.4 yrs
Board of Directors Tenure

Average tenure and age of the VTB Bank board of directors in years:

5.8
Average Tenure
58.5
Average Age
  • The tenure for the VTB Bank board of directors is about average.
Board of Directors

Anton Siluanov

TITLE
Chairman of the Supervisory Council
AGE
55
TENURE
1.9 yrs

Andrey Kostin

TITLE
President
AGE
62
TENURE
16.4 yrs

Yves-Thibault de Silguy

TITLE
Independent Member of the Supervisory Council
AGE
70
TENURE
5.8 yrs

Sergei Platonov

TITLE
Chairman of the Statutory Audit Commission
AGE
52

Arthur Warnig

TITLE
Member of the Supervisory Council
AGE
63
TENURE
12 yrs

Mikhail Eskindarov

TITLE
Member of the Supervisory Council
AGE
67
TENURE
0.9 yrs

Sergey Konstantinovich Dubinin

TITLE
Member of the Supervisory Council
AGE
68
TENURE
7.8 yrs

Shahmar Arif Movsumov

TITLE
Independent Member of Supervisory Council
AGE
46
TENURE
5.8 yrs

Vladimir Chistyukhin

TITLE
Supervisory Board Member
AGE
45
TENURE
4.8 yrs

Mikhail Zadornov

TITLE
Member of the Supervisory Council
AGE
55
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess VTB Bank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. VTB Bank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

VTB Bank (public joint-stock company), together with its subsidiaries, provides various banking products and services in Russia, OECD, and internationally. The company operates five segments: Corporate-Investment Banking, Mid-Corporate Banking, Retail Business, Treasury, and Other Business. It offers standard term deposits, structured deposits, promissory notes, certificates of deposit, and corporate overnight accounts, as well as placement of funds on current accounts; and term loans, credit lines, overdraft loans, complex loan products, and consultancy services, as well as loans to the mining industry. The company also provides factoring, leasing, pension fund, registrar, and investment banking products and services; insurance solutions for corporates and small businesses; cash management products and services; investment products and services, including debt and equity capital market products, corporate finance, commodities, credit derivatives, securitization, equities, equity repo and structured finance, private equity and special situation solutions, infrastructure and project finance, portfolio management, and venture investment services; documentary and depository services; and credit operations through remote banking systems. In addition, it offers payment cards, payment processing, custody, syndication, trade and export finance, anti money laundering and counter terrorist financing policies, construction and development services, treasury, electronic banking, and bank cards. VTB Bank (public joint-stock company) was founded in 1990 and is headquartered in Moscow, Russia.

Details
Name: VTB Bank (public joint-stock company)
VTBR
Exchange: LSE
Founded: 1990
$7,543,314,779
6,474,948,309
Website: http://www.vtb.com
Address: VTB Bank (public joint-stock company)
43, Building.1,
Vorontsovskaya Street,
Moscow,
109147,
Russia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE VTBR GDR EACH REPR 2000 ORD 'REGS' London Stock Exchange GB USD 10. May 2007
DB KYM1 GDR EACH REPR 2000 ORD 'REGS' Deutsche Boerse AG DE EUR 10. May 2007
WBAG VTBR GDR EACH REPR 2000 ORD 'REGS' Wiener Boerse AG AT EUR 10. May 2007
BATS-CHIXE VTBRL GDR EACH REPR 2000 ORD 'REGS' BATS 'Chi-X Europe' GB USD 10. May 2007
MISX VTBR Ordinary Shares Micex - Rts RU RUB 30. May 2007
KAS RU_VTBR Ordinary Shares Kazakhstan Stock Exchange KZ KZT 30. May 2007
Number of employees
Current staff
Staff numbers
96,957
VTB Bank employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 21:14
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/02/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.