LSE:VTBR

Stock Analysis Report

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Executive Summary

VTB Bank (public joint-stock company), together with its subsidiaries, provides various banking products and services in Russia, OECD, and internationally. More Details


Snowflake Analysis

Very undervalued with excellent balance sheet and pays a dividend.


Similar Companies

Share Price & News

How has VTB Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: VTBR has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.0%

VTBR

-1.1%

GB Banks

1.2%

GB Market


1 Year Return

-30.5%

VTBR

-44.6%

GB Banks

-13.2%

GB Market

Return vs Industry: VTBR exceeded the UK Banks industry which returned -44.6% over the past year.

Return vs Market: VTBR underperformed the UK Market which returned -13.2% over the past year.


Shareholder returns

VTBRIndustryMarket
7 Day1.0%-1.1%1.2%
30 Day-8.5%-4.7%-0.2%
90 Day-9.2%-15.0%-1.1%
1 Year-30.5%-30.5%-44.2%-44.6%-9.8%-13.2%
3 Year-54.6%-57.8%-49.8%-54.8%-3.4%-15.1%
5 Year-49.9%-55.1%-37.6%-48.1%25.3%-2.7%

Price Volatility Vs. Market

How volatile is VTB Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is VTB Bank undervalued compared to its fair value and its price relative to the market?

46.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: VTBR ($0.9) is trading below our estimate of fair value ($1.67)

Significantly Below Fair Value: VTBR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: VTBR is good value based on its PE Ratio (2.8x) compared to the GB Banks industry average (8.5x).

PE vs Market: VTBR is good value based on its PE Ratio (2.8x) compared to the UK market (17.3x).


Price to Earnings Growth Ratio

PEG Ratio: VTBR is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: VTBR is good value based on its PB Ratio (0.3x) compared to the GB Banks industry average (0.5x).


Next Steps

Future Growth

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

12.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VTBR's forecast earnings growth (12.5% per year) is above the savings rate (1.2%).

Earnings vs Market: VTBR's earnings (12.5% per year) are forecast to grow slower than the UK market (23.7% per year).

High Growth Earnings: VTBR's earnings are forecast to grow, but not significantly.

Revenue vs Market: VTBR's revenue (8.7% per year) is forecast to grow faster than the UK market (6.2% per year).

High Growth Revenue: VTBR's revenue (8.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: VTBR's Return on Equity is forecast to be low in 3 years time (10.8%).


Next Steps

Past Performance

How has VTB Bank performed over the past 5 years?

42.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VTBR has a high level of non-cash earnings.

Growing Profit Margin: VTBR's current net profit margins (28.6%) are higher than last year (28.3%).


Past Earnings Growth Analysis

Earnings Trend: VTBR has become profitable over the past 5 years, growing earnings by 42.4% per year.

Accelerating Growth: VTBR's earnings growth over the past year (8.4%) is below its 5-year average (42.4% per year).

Earnings vs Industry: VTBR earnings growth over the past year (8.4%) exceeded the Banks industry -28.1%.


Return on Equity

High ROE: VTBR's Return on Equity (9.7%) is considered low.


Next Steps

Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: VTBR's Assets to Equity ratio (9.6x) is low.

Allowance for Bad Loans: VTBR has a sufficient allowance for bad loans (132%).

Low Risk Liabilities: 80% of VTBR's liabilities are made up of primarily low risk sources of funding.

Loan Level: VTBR has an appropriate level of Loans to Assets ratio (66%).

Low Risk Deposits: VTBR's Loans to Deposits ratio (92%) is appropriate.

Level of Bad Loans: VTBR has a high level of bad loans (5.2%).


Next Steps

Dividend

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

2.28%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: VTBR's dividend (2.28%) is higher than the bottom 25% of dividend payers in the UK market (1.86%).

High Dividend: VTBR's dividend (2.28%) is low compared to the top 25% of dividend payers in the UK market (5.16%).


Stability and Growth of Payments

Stable Dividend: VTBR's dividend payments have been volatile in the past 10 years.

Growing Dividend: VTBR's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (6.3%), VTBR's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: VTBR's dividends in 3 years are forecast to be well covered by earnings (24% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.5yrs

Average management tenure


CEO

Andrey Kostin (64 yo)

18.25yrs

Tenure

Mr. Andrey Leonidovich Kostin serves as Director at Rostelecom PJSC since August 7, 2020. Mr. Kostin serves as the President of VTB Capital plc. Mr. Kostin served as the President of VTB BANK at VTB Capita ...


Leadership Team

NamePositionTenureCompensationOwnership
Andrey Kostin
President18.25yrsno data0.0018%
RUB 106.6k
Denis Bortnikov
Deputy President & Chairman of Management Board8.83yrsno datano data
Andrei Puchkov
First Deputy President & Chairman of Management Board11.75yrsno data0.00030%
RUB 17.5k
Olga Dergunova
Deputy President & Chairman of the Management Board4.17yrsno data0%
RUB 0
Yuri Soloviev
First Deputy President & Chairman of Management Board9.33yrsno data0.018%
RUB 1.1m
Valery Lukyanenko
Deputy President & Chairman of Management Board4.08yrsno data0.00046%
RUB 26.8k
Anatoly Pechatnikov
Deputy President & Chairman of Management Board3.17yrsno data0.000010%
RUB 582.4
Vadim Kulik
Deputy President & Chairman of the Management Board0.92yrno datano data
Erkin Norov
Member of Management Board11yrsno datano data
Maxim Kondratenko
Member of Management Board4.83yrsno datano data
Dmitry Pianov
Member of Management Board1.83yrsno datano data
Svyatoslav Ostrovsky
Member of Management Board0.25yrno datano data

4.5yrs

Average Tenure

49yo

Average Age

Experienced Management: VTBR's management team is considered experienced (4.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Andrey Kostin
President18.25yrsno data0.0018%
RUB 106.6k
Yves-Thibault de Silguy
Independent Member of the Supervisory Council7.25yrsno datano data
Sergey Konstantinovich Dubinin
Member of the Supervisory Council9.25yrsno datano data
Mikhail Zadornov
Member of the Supervisory Council2.33yrsno data0.00025%
RUB 14.6k
Arthur Warnig
Member of the Supervisory Council13.42yrsno datano data
Igor Repin
Independent Member of the Supervisory Council2.33yrsno data0%
RUB 0
Alexander Sokolov
Member of the Supervisory Council2.33yrsno datano data
Anton Siluanov
Chairman of the Supervisory Council3.42yrsno datano data
Shahmar Arif Movsumov
Independent Member of Supervisory Council7.25yrsno datano data
Vladimir Chistyukhin
Supervisory Board Member6.25yrsno datano data
Zahar Sabantsev
Chairman of the Statutory Audit Commissionno datano datano data
Oksana Tarasenko
Member of Supervisory Council1.25yrsno datano data

6.3yrs

Average Tenure

55.5yo

Average Age

Experienced Board: VTBR's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

VTB Bank (public joint-stock company)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: VTB Bank (public joint-stock company)
  • Ticker: VTBR
  • Exchange: LSE
  • Founded: 1990
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: US$5.824b
  • Shares outstanding: 6.48b
  • Website: https://www.vtb.com/o-banke

Number of Employees


Location

  • VTB Bank (public joint-stock company)
  • 43, Building.1
  • Vorontsovskaya Street
  • Moscow
  • Moskovskaya obl.
  • 109147
  • Russia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VTBRLSE (London Stock Exchange)YesSPON GDR REG SGBUSDMay 2007
KYM1DB (Deutsche Boerse AG)YesSPON GDR REG SDEEURMay 2007
VTBRLBATS-CHIXE (BATS 'Chi-X Europe')YesSPON GDR REG SGBUSDMay 2007
VTBRWBAG (Wiener Boerse AG)YesSPON GDR REG SATEURMay 2007
VTBRMISX (Micex - Rts)Ordinary SharesRURUBMay 2007
RU_VTBRKAS (Kazakhstan Stock Exchange)Ordinary SharesKZKZTMay 2007

Biography

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-Inv ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/18 04:08
End of Day Share Price2020/09/17 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.