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INVESTOR PRESENTATION
July 2020
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This presentation has been prepared by VTB Bank (PJSC) (“VTB”) and has not been independently verified. This presentation does not constitute or form part or all of, and should not be construed
as, any offer of, or any invitation to sell or issue, or any solicitation of any offer to purchase, subscribe for, underwrite or otherwise acquire, or a recommendation regarding, any shares or other
securities representing shares in, or any other securities of VTB, or any of its subsidiaries, nor shall it or any part of it nor the fact of its presentation or distribution form the basis of, or be relied on in
connection with, any contract or any commitment whatsoever or any investment decision. Some of the information in this presentation may contain projections or other forward-looking statements
regarding future events or the future financial performance of VTB and its subsidiaries (together with VTB, the "Group"). Forward-looking statements are statements that are not historical facts. They
include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the
management of VTB. Such forward-looking statements are based on numerous assumptions, beliefs and expectations regarding the Group's present and future business strategies, financial
conditions, targets and the operating environment. We caution you that these statements are not guarantees of future performance and involve risks, uncertainties and other important factors that we
cannot predict with certainty. Accordingly, our actual outcomes and results may materially differ from what we have expressed or forecasted in the forward-looking statements. These forward-looking
statements speak only as at the date of this presentation and are subject to change without notice. We assume no obligation to update or revise these statements whether as a result of new
information or for any other reason or to make them conform to actual results. Certain numbers and ratios contained herein, related to past dates and periods, might have been restated in
accordance with the latest financial statements issued, and hence differ from the ones presented in the previous communications. Figures shown in this presentation are based on figures disclosed
in the annual and interim financial statements of the Group. However, figures used in this presentation might have been rounded, which could result in slight differences in percentage changes
compared to those provided in such financial statements.
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VTB at a Glance
Macro environment and banking sector in Russia
Strategy and Transformation
Business Overview
Appendix
9
12
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4
VTB AT A GLANCE
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VTB AT A GLANCE 5
BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
▲ - YTD CHANGE
OVERVIEW OF VTB GROUP
VTB Group
18
EMPLOYEES
82
BRANCH NETWORK
1.7
GLOBAL PRESENCE
countries
CREDIT RATINGS
BBB-
Moody’s
CLIENT BASE
14
ATMs ASSETS
16.1
MARKET CAPITALISATION
in Russia
18
thsd
in Russia
RUB trln thsd
in Russia
ruAAA
Baa3
6.5 USD bn
thsd
mln banking
clients
in Russia
AS OF 03-JUl-20
AS OF 31-MAY-20
AS OF 31-MAR-20 AS OF 31-MAR-20
AS OF 31-MAR-20
AS OF 31-MAR-20
17.3%
21.0%
LOANS TO
INDIVIDUALS
16.0%
▼90bp
▼10bp
MORTGAGE DEPOSITS OF
INDIVIDUALS
ASSETS CORPORATE
LOANS
CORPORATE
DEPOSITS
24.1%
17.9%
15.0%
▲ 80bp
▼40bp ▲40bp
MARKET SHARE AS OF 31-MAY-20
▲20bp
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VTB AT A GLANCE 6
BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
11.4% 11.6% 11.2% 11.2% 11.2% 12.0%
9.0% 9.9% 9.2% 9.7% 9.6% 10.2%
8.0% 9.0% 8.4% 8.9% 8.7% 9.3%
VTB OWNERSHIP STRUCTURE AND CAPITAL ADEQUACY
STRUCTURE OF EQUITY CAPITAL
FREE FLOAT
39.1%
FEDERAL AGENCY FOR STATE
PROPERTY MANAGEMENT
60.9%
ORDINARY SHARES (HELD BY FEDERAL AGENCY
FOR STATE PROPERTY MANAGEMENT)
12.1%
ORDINARY SHARES IN FREE FLOAT
7.8%
PREFERENCE TYPE 1 SHARES
(HELD BY MINISTRY OF FINANCE OF
THE RUSSIAN FEDERATION)
32.9%
PREFERENCE TYPE 2 SHARES
(HELD BY STATE CORPORATION
DEPOSIT INSURANCE AGENCY)
47.2%
STATE-OWNED
92.2%
19.9%
INSTITUTIONAL INVESTORS
34.2%
INDIVIDUAL INVESTORS
4.9%
DATA AS OF 01-Jun-20
STRUCTURE OF VOTING RIGHTS
VTB INDIVIDUAL SHAREHOLDER BASE
IS RAPIDLY INCREASING % OF FREE FLOAT
+9.3 p.p.
CAPITAL ADEQUACY RATIOS
TOTAL
CAR
ATT1
CET1
BASED ON RUSSIAN REGULATORY REQUIREMENTS WITH TOTAL CAR REPRESENTED
BY N20.0, TIER I – N20.2, COMMON EQUITY – N20.1.
01-Jan-19 01-Apr-19 01-Jul-19 01-Oct-19 01-Jan-20 01-Apr-20
11.5%
8.0%
9.5%
MIN. LEVEL
3.3% 3.1% 4.2% 7.8% 7.7%
12.6%
≈ 90 thsd
≈ 89 thsd
≈94 thsd
≈121 thsd
≈159 thsd
≈273 thsd
2015 2016 2017 2018 2019 01-Jun-20
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VTB AT A GLANCE 7
BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
REPORTS
VTB CORPORATE GOVERNANCE SYSTEM
APPROVES
ELECTS
REPORTS
REPORTS ELECTS
ELECTS ELECTS
ELECTS
ELECTS REPORTS
REPORTS AND PREPARES
RECOMMENDATION
REPORTS AND PREPARES
RECOMMENDATION
REPORTS
REPORTS AND PREPARES
RECOMMENDATION
ELECTS
APPROVES
Andrey Kostin
President and Chairman
of VTB Management Board
Anton Siluanov
Chairman
of VTB Supervisory Council
Minister of Finance of
the Russian Federation
SUPERVISORY COUNCIL
11 MEMBERS
INCLUDING 4 REPRESENTATIVES OF MINORITY SHAREHOLDERS
MANAGEMENT BOARD
11 MEMBERS INTERNAL AUDIT
DEPARTMENT
AUDIT
COMMITTEE
STRATEGY AND
CORPORATE
GOVERNANCE
COMMITTEE
STATUTORY AUDIT
COMMISSION
GENERAL MEETING OF SHAREHOLDERS
INDEPENDENT AUDITOR
STAFF AND
REMUNERATION
COMMITTEE
CORPORATE
SECRETARY
REPORTS
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VTB AT A GLANCE 8
BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
VTB GROUP OPERATING MODEL IN LINE WITH BEST GLOBAL PRACTICES
CORPORATE-INVESTMENT
BANKING RETAIL BUSINESS MEDIUM AND SMALL
BUSINESS
#1 Investment bank and #2 Corporate bank in Russia
RUB 8,189 BN RUB 2,014 BN
BUSINESS WITH LARGE CORPORATE
CLIENTS
Broad corporate client base (coverage
BUSINESS WITH INDIVIDUALS BUSINESS WITH SMALL CORPORATE
AND MID-CORPORATE CLIENTS
wide regional franchise
Over 1.6 thsd branch network and 13 mln clients in Russia
with leading Russian companies across
CORPORATE CENTER
ADMIN HR STRATEGY
OPERATIONS PR
AUDIT AND COMPLIANCE
MARKETING RISK
MANAGEMENT
CONTROL SUPPORT
c
LEGAL SECURITY
IT FINANCE
RUB 5,898 BN
all economic sectors
c. 520 thsd mid-corporate banking clients
5M’20 ASSETS
and c. 18 thsd ATMs, JV with the Russian Post:
#1 retail franchise in Russia (c. 20 thsd retail
outlets and c. 5 thsd ATMs
and small business clients
of Post Bank)
in Russia c. 85%) with long-term relationships
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9
MACRO ENVIRONMENT
AND BANKING SECTOR IN RUSSIA
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10
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
MACRO ENVIRONMENT IN RUSSIA
CPI DEC / DEC
USD/RUB (CBR, AVG)
OIL PRICE (URALS, AVG)
CBR KEY RATE (AVG)
OIL PRICE USD AND EXCHANGE RATE RUB INFLATION AND CBR KEY RATE
RUSSIAN MACROECONOMIC INDICATORS %
Current rate:
4.5%
GDP
INVESTMENTS IN FIXED CAPITAL
INDUSTRIAL PRODUCTION
RETAIL TURNOVER
FOR 5M’20 MAY / MAY
97.6
51.0 41.6
53.1
69.7 63.9
38.4
2014 2015 2016 2017 2018 2019 5M'2020
38.0
60.7 66.9 58.3 62.5 64.7 69.4
7.9%
12.6% 10.6%
9.1% 7.4% 7.3%
6.0%
11.4% 12.9%
5.4%
2.5% 4.3%
3.0% 3.0%
2014 2015 2016 2017 2018 2019 5M'2020
0.7
-2.3
0.3 1.6 2.3
1.3 1.6
-3,7
2,5
-0.8
2.2 2.1 3.5
2.3 1.5
-2.4
2.7
-10.0
-4.8
1.3 2.8
1.6
4.3
-6.1
-1.5
-10.1
-0.2
4.8 5.4
1.7 1.2
2014 2015 2016 2017 2018 2019 3M'2020 5M'2020
1 – Data of the Ministry of Economic Development
1 1
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11
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO 11
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
12.9%
22.4% 16.3%
LOANS TO INDIVIDUALS
(% OF GDP)
EASTERN
EUROPE & CIS1
TOTAL
RETAIL
CORPORATE
BANKING SECTOR IN RUSSIA
(1) Poland, Czech Republic, Slovakia, Hungary, Croatia, Bulgaria, Romania, Slovenia,
Serbia, Ukraine, Georgia, Belarus, Kazakhstan
LOANS DEPOSITS
5M’20
8.7% 4.9%
4.4% 2.1%
12.3% 7.5%
5.2% 4.4%
3.2% 5.2%
6.0% 4.0%
RUB BN
CORPORATES INDIVIDUALS
х 5.3
Mortgage Cars Cards
▲
RUSSIA
Consumer & other
х 1.8 ▲
5Y CAGR(1)
5.9% 5.2%
9.0% 10.7%
4.7% 3.4%
TOTAL
RETAIL
CORPORATE
10.6% 7.5%
16.0% 8.7%
7.2% 6.5%
6.9%
7.3
12.2
12.3
12.8
12.9
9.6
11.3
9.3
9.5
9.5
16.9%
23.6%
21.5%
22.4%
22.4%
2006
2010
2015
2018
2019
1.3
2.8
4.9
6.2
6.9
0.5
0.5
1.3
1.2
1.5
1.1
1.1
0.8
0.8
0.9
4.3
4.5
5.9
6.2
7.0
7.2%
8.8%
12.8%
14.3%
16.3%
2006
2010
2015
2018
2019
INDUSTRY INDUSTRY
LOANS,% DEPOSITS,%
(1) 5Y CAGR calculations are based on 3M’2015 and 3M’2020 financial data.
3,794
9,818
23,219
25,987
28,460
30,549
31,180
3,905
10,881
27,923
27,004
31,424
31,788
34,182
2,065
4,085
10,684
12,174
14,901
17,651
18,210
5,909
14,849
36,173
34,786
38,947
39,854
42,257
2006
2010
2015
2017
2018
2019
5M'20
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12
STRATEGY AND TRANSFORMATION
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13
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO 13
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
PROGRAMME OBJECTIVES
• IMPROVEMENT OF TIME TO MARKET
FOCUS ON CLIENT-
CENTRICITY
KEY VTB GROUP STRATEGIC PRIORITIES FOR 2022
STRATEGIC
PRIORITIES
LEADERSHIP IN CUSTOMER
SATISFACTION
BREAKTHROUGH
IN DIGITALIZATION
● 100% PAPERLESS WORKFLOW
● >50% SALES VIA DIGITAL CHANNELS (RETAIL&SME)
● 100% PRODUCTS AVAILABILITY DIGITAL
AMONG PEER BANKS
CREATING HIGHLY EFFECTIVE
ORGANIZATION & CULTURE BETTER PERSONNEL ENGAGEMENT
MOTIVATED AND
EFFICIENT TEAM
SET UP & ROLL-OUT
A LEADER IN SELECTED ECOSYSTEMS
BUILDING A ROBUST
AND AGILE OPERATIONAL
AND TECH PLATFORM
TIME-TO-MARKET
FINANCIAL TARGETS
ROE CIR
DIVIDEND
PAYOUT
NET
PROFIT
15%
300
32%
50%
2022
24/7 ACCESSIBILITY
IN DIGITAL ECONOMY
RUB BN
600 DAYS TRANSFORMATION PROGRAMME WILL CONTRIBUTE TO THE ACHIEVEMENT
OF STRATEGIC GOALS 2022 IN RETAIL AND MSB
18 mln Active Retail
clients
1 mln Active SMB
clients
TOP-1 Customer loyalty
and satisfaction
>50% Digital sales
in Retail
• DIGITALISATION OF CLIENT EXPERIENCE
RETAIL
MSB
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14
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
BUILD-UP OF TRADITIONAL BANKING PLATFORM: MIX OF MERGERS
AND ORGANIC GROWTH
ORGANIC GROWTH
M&A DEALS
GUTA BANK
PROMSTROIBANK
LETO BANK LEGAL MERGER WITH
VTB BANK (MAY’16)
LAUNCH OF POST BANK
STARTING FROM 30
SEPTEMBER 2018,
POST BANK IS
ACCOUNTED AS JV
LEGAL MERGER WITH
VTB BANK (JAN’18)
VTB ACQUIRED
CONTROLLING STAKE
IN VOZROZHDENIE
BANK (OCT’18)
VTB ACQUIRED CONTROLLING
STAKES IN WEST SIBERIAN
COMMERCIAL BANK AND
SAROVBUSINESSBANK
(JAN’19)
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15
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
VTB GROUP TRANSFORMATION
1. DIGITALISATION 2. TECHNOLOGIES
SETTLEMENTS
AUTHENTICATION
& BIOMETRICS TRANSACTIONS
AGILE
AI &
ROBOTISATION
COMMUNICATION
OPEN API
OTHER
DevSecOps VTB CLOUD
DATA
MONETIZATION
3. ECOSYSTEM
CLIENT
BECOMING NEW ELEMENT OF CLIENT
LIFESTYLE
RESTRUCTURING TRADITIONAL BANKING FUNCTIONS
TO CREATE AND ADOPT PRODUCTS AND SERVICES
TO VTB ECOSYSTEM
MAXIMISING SALES THROUGH DIGITAL
CHANNELS
LIFESTYLE
BANKING MOBILE
HOUSING
ECOSYSTEM
B2B
KEY ELEMENTS KEY
TECHNOLOGICAL
CHANGES
2019 2022
FISCAL
DATA
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16
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
FIRST STEPS IN ROLLING OVER VTB ECOSYSTEM
VTB
CLIENTS
PROVIDES ACCESS TO POPULAR CITY ONLINE
SERVICES
MARKETPLACES
► INTEGRATION WITH PORTAL OF
PROVIDERS (PUBLIC PROCUREMENT)
SINGLE SIGN ON
► VTB SMALL SIZE PROCUREMENT
(<1 MLN RUB)
PROCUREMENT
EXPORT MANAGER
SERVICE
ACCELERATION WITH
RUSSIAN EXPORT CENTER
SEIZED PROPETY SALE
FISCAL DATA OPERATOR
MOBILE OPERATOR
DIGITAL PLATFORM
FOR FULL CYCLE
OF REAL ESTATE
SERVISES
SITE RE-BRANDING
DOMYLAND
PROPTECH SOLUTION
MARKET PLACE FOR
DIGITAL MORTGAGE
SERVICE
BICYCLE RENTAL 5MLN RENTS IN 2019
MULTI-BONUS LOYALTY PROGRAMME
MY SMART CITY APP
Komissi
Square
meter
MOBILE
BIG DATA PLATFORM
APP INCLUDES THE TOOLS NECESSARY
FOR A FULL WORKFLOW: ACCOUNTING,
TAX, CONSULTING SERVICES
DIGITAL ACCOUNTING FOR SME
Cifra
MORE THAN 30
PARTNERSHIPS
INCLUDING
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17
BUSINESS OVERVIEW
0
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VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
1,481 1,488
8,096 8,422
3%
6%
2%
2%
2%
26%
16%
5%
2%
2%
27%
16%
27%
11%
8%
16%
20%
24%
36%
37%
28%
39%
36%
43%
46%
3%
6%
6%
5%
<1%
2006 1,380
2010 4,291
2015 13,645
2019 15,516
31-May-20 16,125
MEASURED BUSINESS GROWTH WITH FOCUS ON PRIORITISED
SEGMENTS
▲▼ - ytd
RUB BN
ASSETS
CASH
SHORT-TERM FUNDS
MANDATORY RESERVES SECURITIES
DUE FROM NET LOANS OTHER ASSETS
RETAIL CORPORATE
▲3.9%
LIABILITIES
14,410 31-May-20
13,863 2019
12,188 2015
3,713 2010
1,196 2006
OTHER LIABILITIES SUBORDINATED
DEBT
SECURITIES
ISSUED DUE TO
AND OBF CUSTOMER DEPOSITS
RETAIL CORPORATE
LOANS TO INDIVIDUALS INDUSTRY
▲3%
LOANS TO LE
SME
▲3.9%
▲5% ▲4%
INDUSTRY
▲6%
MORTGAGES ▲9%
CONSUMER LOANS
▲3%
▲0.5%
31-Dec-19 31-May-20 31-Dec-19 31-May-20
8%
7%
5%
9%
8%
17%
11%
5%
6%
5%
13%
8%
10%
4%
5%
5%
12%
13%
20%
21%
51%
53%
56%
49%
49%
6%
9%
11%
12%
12%
1,463 1,505
1,614 1,752
3,365 3,542
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VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO 19
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
54 123
182 201
2016 2017 2018 2019
3.7% 4.1% 3.9% 3.4%
2016 2017 2018 2019
FINANCIAL PERFORMANCE 5M’2020
NET PROFIT 41.2
ROE
▲125% ▲48% ▲11% Y-O-Y
GROWTH ▲712% ▼33%
15.6% 15.3% 12.6% 17.8%
NIM
FEES /
OPERATING
INCOME
45.8% 44.0% 40.5% 41.6%
COR
CIR
1.5% 1.6% 1.6% 0.8%
2016 2017 2018 2019
NET PROFIT
▲▼ - yoy
RUB BN
3.7%
▲40bp
17.5%
▲230bp
1.5%
▲80bp
45.9%
▼80bp
5.8% 3.8%
8.5% 12.5% 12.8%
THE DATA, PRESENTED BELOW, HAVE BEEN
CALCULATED BASED ON THE OFFICIAL PUBLISHED
FINANCIAL REPORTS FOR EACH RESPECTIVE YEAR
(I. E. AS REPORTED)
NET
INTEREST
INCOME
NET FEE &
COMISSION
INCOME
OTHER
INCOME
NET
OPERATING
INCOME
PROVISION
CHARGE
STAFF &
ADMINISTRATIVE
EXPENSES
TAX
209.0
41.9
-11.1
-74.8
-13.7
-110.1
239.8
▲25.4%
▲7.3%
▲9.0%
▲18.2%
▼214.4%
▲116.8%
▼380bp
2016 2017 2018 2019
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
20
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
Bank Fees USD / mln % share
VTB Capital 25.1 27.6
2 Goldman Sachs 7.1 7.8
3 JP Morgan 6.4 7.1
4 Citi 6.1 6.7
5 UniCredit 5.1 5.7
Source: Refinitiv Russia Investment Banking Review 1Q’20
Bookrunner Deal value / USD mln % share # of deals
VTB Capital 2,148 21.9 17
2 Gazprombank 1,625 16.6 18
3 JP Morgan 1,016 10.3 6
4 UniCredit 711 7.2 3
5 Credit Bank of Moscow 702 7.1 14
Source: Dealogic Russia Total DCM league tables 1Q’20
Bookrunner Deal value / USD mln % share # of deals
VTB Capital 4,030 36.4 8
2 Citi 2,535 22.9 4
3 BofA Securities 2,098 19.0 3
4 Santander Corp 1,663 15.0 2
5 Lazard 1,438 13.0 1
Source: Refinitiv Emerging Markets M&A Review 1Q’20
INVESTMENT BANKING IN RUSSIA DCM BOOKRUNNER IN RUSSIA AND CIS
VTB CAPITAL: BEST INVESTMENT BANK IN RUSSIA
Best Investment Bank
in Emerging Markets
(2018,2019,2020)
Best Investment Bank
in Russia
(2010-2017, 2019)
Best Investment Bank
in CEE (2013-2019)
Best Financial
Services in Russia
(2016-2019)
Best investment bank
in Russia
(2010-2019)
M&A BOOKRUNNER IN EASTERN EUROPE
#1 DCM bookrunner
in Eastern Europe
(1Q’2020)
Best investment Bank
in Russia
(2019)
LEADING POSITION:
Bookrunner Deal value / USD mln % share # of deals
1 VTB Capital 5,801 32.8 6
2 Citi 3,605 20.4 2
3 Sberbank CIB 1,991 11.3 1
4 Credit Suisse 1,579 8.9 1
5 BTIG 939 5.3 1
M&A IN RUSSIA
Source: Dealogic Russia Completed M&A league tables 1Q’20
#1 Research Team “Transport”
category, EMEA
(2016-2019)
#1 Research Team
“Electric utilities” category, EMEA
(2019)
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
21
APPENDIX: FINANCIALS
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
22
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
68%
76%
32%
24%
31-Dec-14
31-Mar-20
62% 60% 59% 60% 60% 58% 54% 54% 38%
40% 41%
40% 40% 42% 46%
46% 5,669
7,267 7,347 9,145 9,145
10,404 10,974 11,820
31-Dec-14 31-Dec-15 31-Dec-16 31-Dec-17 01-Jan-18 31-Dec-18 31-Dec-19 31-Mar-20
▲6%
▲9%
150.6% 129.9%
120.5% 100.3% 99.5% 102.8% 98.2% 95.5%
79% 81% 77% 75% 74% 74% 71% 71%
21% 19% 23% 25% 26% 26% 29% 29%
9,150 10,110 9,487 9,773 9,841
11,424 11,462 12,059
31-Dec-14 31-Dec-15 31-Dec-16 31-Dec-17 01-Jan-18 31-Dec-18 31-Dec-19 31-Mar-20
▲4%
▲5%
IFRS 9 NET CUSTOMER
LOANS /
CUSTOMER
DEPOSITS (LDR)
LOANS AND ADVANCES TO CUSTOMERS
BY INDUSTRY
LOAN PORTFOLIO AND CUSTOMER DEPOSITS
CUSTOMER DEPOSITS
OIL AND GAS
METALS
MANUFACTURING
GOVERNMENT BODIES
TRANSPORT
TRADE AND COMMERCE
ENERGY
FINANCE
BUILDING CONSTRUCTION
TELECOMMUNICATIONS
AND MEDIA
CHEMICALS BY CURRENCY
NET LOANS CUSTOMER DEPOSITS
OTHER
INDIVIDUALS
31-Dec-14
31-Mar-20
FX
RUB
INDIVIDUALS
LEGAL ENTITIES
LDR RUB
195%
63%
101%
LDR FX
114%
▲▼ - ytd
RUB BN
▲5%
IFRS 9
▲8%
53%
68%
47%
32%
31-Dec-14
31-Mar-20
YTD w/o FX
11,963 4.4% 1.3%
5M’20 update
YTD w/o FX
11,927 8.7% 4.3%
5M’20 update
GROSS LOANS
29%
11%
9%
8%
6%
6%
6%
5%
4%
4%
4%
2%
6%
21%
11%
9%
9%
7%
10%
5%
2%
7%
5%
5%
6%
3%
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
23
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
50%
67%
75%
77%
76%
75%
75%
74%
77%
72%
50%
33%
25%
23%
24%
25%
25%
26%
23%
28%
311
1,465
3,520
4,384
4,342
5,523
5,523
5,996
5,933
6,408
680
2,518
7,205
8,150
7,311
7,287
7,307
8,435
8,096
8,565
54% 54
58
60
60
59
60
62
66
63
71% 71
74
74
75
77
81
79
82
92
IFRS 9
VTB BUSINESS WITH LEGAL ENTITIES
17.3%
▼90bp
MARKET SHARE
SHARE IN TOTAL:
21.0%
▲6%
CURRENT TERM
CORPORATES
LOANS DEPOSITS
MARKET SHARE
▲8%
IFRS 9
▲6pp since 2006 ▲18pp since 2006
31-Mar-20
31-Dec-19
31-Dec-18
01-Jan-18
31-Dec-17
31-Dec-16
31-Dec-15
31-Dec-14
31-Dec-10
31-Dec-06
LOANS DEPOSITS
▲▼ - ytd
RUB BN
MARKET SHARE AS OF 31-MAY-20
▲80bp
COST OF DEPOSITS OF LE
YIELD ON LOANS TO LE
5.0%
7.6%
FY’19
31-Mar-20
31-Dec-19
31-Dec-18
01-Jan-18
31-Dec-17
31-Dec-16
31-Dec-15
31-Dec-14
31-Dec-10
31-Dec-06
31-Mar-20
31-Dec-19
31-Dec-18
01-Jan-18
31-Dec-17
31-Dec-16
31-Dec-15
31-Dec-14
31-Dec-10
31-Dec-06
7.6% 7.7% 7.5% 7.5% 7.1%
5.1% 5.2% 4.8% 4.8%
4.0%
1Q'19 2Q'19 3Q'19 4Q'19 1Q'20
YTD w/o FX
8,422 4.0% -0.2%
5M’20 update
YTD w/o FX
6,665 12.3% 8.2%
5M’20 update
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
24
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
76%
81%
82%
84%
79%
75%
75%
75%
72%
69%
24%
19%
18%
16%
21%
25%
25%
25%
28%
31%
180
748
2,149
2,883
3,004
3,622
3,622
4,408
5,042
5,412
38%
40%
41%
45%
46%
44%
43%
48%
48%
49%
4%
10%
7%
5%
4%
4%
4%
4%
4%
4%
6%
6%
6%
5%
5%
4%
4%
4%
58%
50%
46%
44%
44%
47%
48%
44%
44%
43%
62
542
1,945
1,960
2,176
2,486
2,534
2,989
3,365
3,493
46% 46
42
40
40
41
40
38
34
37
29% 29
26
26
25
23
19
21
18
8
LOANS DEPOSITS
IFRS 9
VTB BUSINESS WITH INDIVIDUALS
17.9% MARKET SHARE
SHARE IN TOTAL:
▼10bp
▲4%
RETAIL
LOANS DEPOSITS
MARKET SHARE
▲7%
15.0%
CURRENT TERM
CASH & OTHER
MORTGAGE
CAR LOANS
CARDS
IN 2006 AND 2010 CARDS ARE INCLUDED IN “OTHER”
▲15pp since 2006 ▲10pp since 2006
▲▼ - ytd
RUB BN
IFRS 9
COST OF DEPOSITS OF IND
YIELD ON LOANS TO IND
4.9%
11.9%
FY’19
MARKET SHARE AS OF 31-MAY-20
31-Mar-20
31-Dec-19
31-Dec-18
01-Jan-18
31-Dec-17
31-Dec-16
31-Dec-15
31-Dec-14
31-Dec-10
31-Dec-06
▲40bp
31-Mar-20
31-Dec-19
31-Dec-18
01-Jan-18
31-Dec-17
31-Dec-16
31-Dec-15
31-Dec-14
31-Dec-10
31-Dec-06
31-Mar-20
31-Dec-19
31-Dec-18
01-Jan-18
31-Dec-17
31-Dec-16
31-Dec-15
31-Dec-14
31-Dec-10
31-Dec-06
11.9% 11.8% 11.9% 11.8% 11.4%
4.8% 4.9% 5.0% 4.8% 4.4%
1Q'19 2Q'19 3Q'19 4Q'19 1Q'20
YTD
3,542 5.2%
5M’20 update
YTD w/o FX
5,262 4.4% -0.4%
5M’20 update
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
25
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO 25
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
112.0% 110.8% 112.4%
128.7% 128.6%
31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19 31-Mar-20
5.8% 5.7% 5.5% 4.7% 4.9%
658 657 650 534 596
31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19 31-Mar-20
6.5% 6.3% 6.1% 6.0% 6.4%
737 728 650 687 766
31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19 31-Mar-20
LOAN BOOK QUALITY
LOAN WRITE-OFFS
NPLS (90+)
NPL RATIO
ALLOWANCE FOR LOAN
IMPAIRMENT / TOTAL GROSS
LOANS
The Group defines non-performing
loans (NPL) as lifetime expected
credit losses (ECL) credit-impaired
loans with contractual principal and
or interest payments overdue more
than 90 days and purchased or
originated credit impaired (POCI)
loans with principal and or interest
payments becoming overdue more
than 90 days after the date of initial
recognition.
PROVISION FOR LOAN IMPAIRMENT
COVERAGE RATIO
▲▼ - ytd
RUB BN
▲4% ▼9%
▲17pp
FY’19: 165.5
▲11% ▲12%
▼10bp
8.5
46.5 37.2
73.3
6.2
1Q'19 2Q'19 3Q'19 4Q'19 1Q'20
YTD
6.5% 50bp
RUB 776 bn 12.8%
5M’20 update
YTD
129.7% 1pp
5M’20 update
YTD
5.0% 30bp
RUB 598bn 11.9%
5M’20 update
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
26
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
93%
6% 1%
96.7% 95.9%
2.1%
2.9% 1.3%
1.4% 11,462 12,059
31-Dec-19 31-Mar-20 8.2% 8.1%
14.6% 16.2%
77.2% 75.7%
11,080 11,561
31-Dec-19 31-Mar-20
11.6
18.0
13.4
3M'20
GROSS LOAN PORTFOLIO BREAKDOWN UNDER IFRS 9
LOANS AT AMORTISED COST
BY ECL STAGES
PASS
DOUBTFUL
NPL
▲5%
STAGE 1
STAGE 2
STAGE 3
+ POCI
WATCH
SUB-STANDARD
PROVISION
CHARGE
12 MONTH ECL
LECL
LECL CREDIT-
IMPAIRED
AND PURCHASED
OR ORIGINATED
CREDIT IMPAIRED
ALLOWANCE
RATIO
LOAN PORTFOLIO
▲▼ - ytd
RUB BN
FV THROUGH
P&L
FV THROUGH
OCI
AMORTISED
COST
43.0
29%
4%
67%
35%
3%
62%
1.0%
9.1%
54.4%
0
159
223
10
41
115
173
175
175
120
180
151
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224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
27
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO 27
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
1.8% 1.7% 1.7%
1.0%
2.0%
0.0%
0.9% 0.8%
0.4%
1.3%
1Q'19 2Q'19 3Q'19 4Q'19 1Q'20
0.5 18.0 15.9
8.3
26.0 13.7
13.4 14.0
8.4
17.1
14.2
31.4 29.9
16.7
43.1
1Q'19 2Q'19 3Q'19 4Q'19 1Q'20
PROVISION CHARGE AND COST OF RISK
PROVISION CHARGE FOR IMPAIRMENT OF LOANS
LOANS TO INDIVIDUALS
LOANS TO LEGAL ENTITIES
COST OF RISK BREAKDOWN
COST OF RISK
LOANS TO INDIVIDUALS
LOANS TO LEGAL ENTITIES
Provision charge for credit
losses divided by average
gross loans and advances
to customers.
▲▼ - yoy
RUB BN
▲204%
LE ▲130bp
IND ▲20bp
0.5% 1.1% 1.0%
0.6%
1.6%
1.7% 10bp y-o-y
1.5% -40bp y-o-y
0.5% -90bp y-o-y
2019: 92.2
2019:
y-o-y
1.5% 80bp
RUB 74.8bn 116.8%
5M’20 update
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
28
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO 28
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
8.8% 8.9% 8.8% 8.8% 8.4%
8.3% 8.5% 8.5% 8.4% 7.9%
104 109 110 117 120
1Q'19 2Q'19 3Q'19 4Q'19 1Q'20
3.2% 3.3% 3.3%
3.5% 3.6%
NET INTEREST INCOME
NET INTEREST INCOME AND NIM
YIELD ON TOTAL INTEREST
EARNING ASSETS
YIELD ON CUSTOMER
LOANS
COST OF TOTAL INTEREST
BEARING LIABILITIES
AVERAGE YIELDS AND COST OF FUNDS
COST OF CUSTOMER
DEPOSITS
▲▼ - yoy
RUB BN
▲15%
YIELD ON TOTAL
INTEREST EARNING
ASSETS
8.4%
COST OF TOTAL
INTEREST BEARING
LIABILITIES 5.2%
FY’19
NIM
5.0% 5.1% 4.9% 4.8% 4.2%
5.3% 5.3% 5.2% 4.9% 4.3%
1Q'19 2Q'19 3Q'19 4Q'19 1Q'20
2019: 441 3.4%
y-o-y
3.7% 40bp
RUB 209bn 18.2%
5M’20 update
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
29
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO 29
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
61% 65%
58% 47%
51%
8%
6% 8%
5%
7% 7%
7% 7%
17%
16% 20%
17% 20%
25%
23%
4%
5% 7%
6%
3% 30.9
40.4 37.1
57.9
43.3
1Q'19 2Q'19 3Q'19 4Q'19 1Q'20
FEE AND COMMISSION INCOME BREAKDOWN
NET FEE AND COMMISSION
INCOME
NET FEE AND COMMISSION
INCOME / AVG ASSETS (NET)
NET FEE AND COMMISSION INCOME
FEE AND COMMISSION INCOME ▲▼ - yoy
RUB BN
▲40%
▲48%
18.9 26.0 22.4
41.2 28.0
1Q'19 2Q'19 3Q'19 4Q'19 1Q'20
0.5% 0.7% 0.6%
1.0% 0.7%
2019: 108.5
2019: 166.3
0,7%
►19pp - INSURANCE PRODUCTS DISTRIBUTION
AND OTHER AGENCY SERVICES
►10pp - WIM BROKERAGE COMMISSIONS (2Х GROWTH)
KEY GROWTH DRIVERS:
►15pp – COMMISSIONS ON CAPITAL MARKETS
INSURANCE PRODUCTS
DISTRIBUTION AND OTHER
AGENCY SERVICES
SETTLEMENT, TRADE
FINANCE AND CASH
TRANSACTIONS
OTHER
GUARANTEES AND OTHER
CREDIT RELATED
COMMITMENTS
OPERATIONS WITH SECURITIES
AND ON CAPITAL MARKETS
y-o-y
0.6% 10bp
RUB 41.9bn 25.4%
5M’20 update
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
30
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO 30
2.4
43.8 -35.1
0.8 3.6 15.5
COMPONENTS OF OTHER INCOME
Financial
instruments
FX and
precious
metals
Non-banking
income
Revenues less
expenses from
pension activity
Other Total
▼82.4% ▲6.4х ▼ 59.1% ▼16.2х ▼129.6% ▲11.5%
RUB 35.8 BLN - INCOME
FROM REVALUATION
OF STRUCTURAL OCP
▲ 11.5%
RUB 37.8 BLN – EFFECT OF
NEGATIVE REVALUATON OF NON-
CORE ASSETS
13.9 15.5
▲▼ - YoY
RUB BLN
1Q’19 1Q’20
y-o-y
RUB -11.1bn -214.4%
5M’20 update
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
31
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO 31
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
1.7% 1.7% 1.5% 1.8% 1.6%
44.3% 48.9% 37.8% 37.7% 39.3%
40.5 39.5 37.6 40.2 40.9
20.2 25.4 21.1 29.7 23.2
60.7 64.9 58.7
69.9 64.1
1Q'19 2Q'19 3Q'19 4Q'19 1Q'20
STAFF AND ADMINISTRATIVE EXPENSES
STAFF COSTS AND ADMINISTRATIVE EXPENSES
CIR
COSTS/AVG. ASSETS
AVERAGE NUMBER OF EMPLOYEES (THSD)
STAFF COSTS INCLUDING
PENSIONS
ADMINISTRATIVE
EXPENSES
VTB BANK
OTHER COMPANIES
OF VTB GROUP
▲▼ - yoy
RUB BN
▲5.6%
58.2 58.5 59.1 59.6 59.4
21.0 23.1 23.6 23.3 22.5
79.2 81.5 82.8 82.9 81.9
1Q'19 2Q'19 3Q'19 4Q'19 1Q'20
2019: 254.2 41.6%
1.7%
SUBSIDIARIES
VTB BANK
2019: 81.6
▲3.5%
y-o-y
45.9% -80bp
1.6% -10bp
RUB 110.1bn 7.3%
5M’20 update
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
32
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO 32
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
VTB GROUP FINANCIAL HIGHLIGHTS: P&L AND KEY RATIOS
INCOME STATEMENT KEY INDICATORS
KEY FINANCIAL RATIOS
RUB BN
1Q’20 1Q’19 Change 2019
Net interest income 119.7 104.2 14.9% 440.6
Net fee and commission income 28.0 18.9 48.1% 108.5
Net other income 15.5 13.9 11.5% 61.3
Operating income before provisions 163.2 137.0 19.1% 610.4
Provision charge for credit losses and other provisions -45.1 -15.2 196.7% -103.3
Staff costs and administrative expenses -64.1 -60.7 5.6% -254.2
Profit before tax 54.0 61.1 -11.6% 252.9
Income tax expense -14.2 -14.6 -2.7% -51.7
Net profit 39.8 46.5 -14.4% 201.2
1Q’20 1Q’19 Change 2019
NIM 3.6% 3.2% 40bp 3.4%
CoR 1.5% 0.5% 100bp 0.8%
Costs / Assets 1.6% 1.7% -10bp 1.7%
CIR 39.3% 44.3% -500bp 41.6%
ROE 9.5% 12.3% -280bp 12.8%
5M’20 5M’19 Change
209.0 176.8 18.2%
41.9 33.4 25.4%
-11.1 9.7 -214.4%
239.8 219.9 9.0%
-74.8 -34.5 116.8%
-110.1 -102.6 7.3%
54.9 82.8 -33.7%
-13.7 -21.3 -35.7%
41.2 61.5 -33.0%
5M’20 5M’19 Change
3.7% 3.3% 40bp
1.5% 0.7% 80bp
1.6% 1.7% -10bp
45.9% 46.7% -80bp
5.8% 9.6% -380bp
1Q’20 IFRS consolidated
financial
statements
5M’20 IFRS unaudited financial
statements
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
33
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO 33
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
VTB GROUP FINANCIAL HIGHLIGHTS: BALANCE SHEET
BALANCE SHEET KEY INDICATORS
KEY ASSET QUALITY RATIOS
(1) The Group defines non-
performing loans (NPL) as
lifetime expected credit losses
(ECL) credit-impaired loans with
contractual principal and or
interest payments overdue more
than 90 days and purchased or
originated credit impaired
(POCI) loans with principal and
or interest payments becoming
overdue more than 90 days after
the date of initial recognition.
RUB BN
1Q’20 IFRS consolidated
financial
statements
31-Mar-20 31-Dec-19 Change 30-Sep-19 30-Jun-19 31-Mar-19 31-Dec-18
Gross loan portfolio 12,058.6 11,461.5 5.2% 11,912.7 11,623.2 11,287.9 11,423.5
Loans to legal entities 8,565.4 8,096.2 5.8% 8,491.3 8,323.6 8,121.9 8,435.0
Loans to individuals 3,493.2 3,365.3 3.8% 3,421.4 3,299.6 3,166.0 2,988.5
Total assets 16,588.7 15,516.1 6.9% 15,624.6 15,055.3 14,841.8 14,760.6
Customer deposits 11,819.7 10,974.2 7.7% 11,288.4 10,738.0 10,149.0 10,403.7
Deposits of legal entities 6,408.2 5,932.6 8.0% 6,485.7 6,029.5 5,582.2 5,995.8
Deposits of individuals 5,411.5 5,041.6 7.3% 4,802.7 4,708.5 4,566.8 4,407.9
Total liabilities 14,860.4 13,862.8 7.2% 14,030.1 13,514.7 13,295.2 13,237.6
Total shareholders' equity 1,728.3 1,653.3 4.5% 1,594.5 1,540.6 1,546.6 1,523.0
31-Mar-20 31-Dec-19 Change 30-Sep-19 30-Jun-19 31-Mar-19 31-Dec-18
NPL ratio (1) 4.9% 4.7% 20bp 5.5% 5.7% 5.8% 5.7%
LLR ratio 6.4% 6.0% 40bp 6.1% 6.3% 6.5% 6.4%
Coverage ratio 128.6% 128.7% -10bp 112.4% 110.8% 112.0% 112.0%
31-May-20 YTD
11,963.3 4.4%
8,421.6 4.0%
3,541.7 5.2%
16,124.7 3.9%
11,926.8 8.7%
6,665.0 12.3%
5,261.8 4.4%
14,409.8 3.9%
1,714.9 3.7%
31-May-20 YTD
5.0% 30bp
6.5% 50bp
129.7% 100bp
5M’20 IFRS unaudited financial
statements
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
34
VTB AT A GLANCE BUSINESS OVERVIEW STRATEGY & TRANSFORMATION APPENDIX MACRO
INTERNATIONAL DEBT MATURITY PROFILE (2) USD MLN
Borrower Currency Amount outstanding
(mln) Instrument Maturity Date/Put or Call Option Coupon ISIN
2020
VTB USD 948 Series 10 EMTN 2 October 2020 6.551% XS0548633659
2022
VTB USD 1,500 Series 21 EMTN 2 Subordinated Debt October 2022 6.95% XS0842078536
2024
VTB CHF 350 Series 4 EMTN 3 Subordinated Debt October 2024 (call option) 5.0% CH0248531110
2035
VTB USD 31 Series 6 EMTN 1 June 2035 6.25% XS0223715920
Perpetual
VTB USD 2,250 Tier 1 Perpetual Eurobond (call option) Dec 2022 (call option)(1) 9.5% XS0810596832
(1) Fixed until the first call date, then reset on 6-Dec -22 and every 10th year thereafter
VTB GROUP PUBLIC DEBT AND HYBRID CAPITAL INSTRUMENTS
827
1,339
242 25
2020 2022 2024 2035
USD
CHF
(2) Net of bought back public debt. exchange rates published by the CBR as of July 4, 2020. In addition to international debt, VTB Group currently has RUB 162.7 bn domestic bonds (as of July 2, 2020).
0
159
223
10
41
115
173
175
175
120
180
151
214
224
141
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
Investor Relations
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