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Essar Energy moved VTB loans to Mauritius after Russia invasion, prompting calls for UK probe

After the 2022 invasion of Ukraine Essar shifted billions of dollars in loans from the Kremlin-controlled bank VTB from Cyprus to a Mauritius subsidiary where EU/Russian sanctions did not apply, while stopping Russian oil imports. The transfers were signed by subsidiaries of Essar Energy and Cyprus authorities approved the move; experts and MPs say the restructuring raises red flags for potential sanctions circumvention and call for a UK investigation. Cyprus and Mauritius are reviewing the transactions and forensic accountants found signs of at least $1bn of additional rouble exposure that Essar’s lawyers attribute to accrued interest. » More on theguardian.com
VTB Bank fails in London in claim for £205 million from British unit

VTB Bank lost in a London court its attempt to recover around £205 million ($274 million) from its wound-up British subsidiary VTB Kapital Plc. Judge Rowena Collins Rice found no unlawfulness in the changes to the sanctions-related administration rules and dismissed the claim. Insolvency administrators said the Russian bank’s claim was smaller (£188 million); the bank was sanctioned by the United Kingdom in 2022. » More on de.investing.com
Russian court upholds $439 million judgment against J.P. Morgan units

A Russian appeals court has upheld a ruling awarding VTB Bank $439 million in damages against eight J.P. Morgan group companies, including JPMorgan Emerging Europe, Middle East & Africa Securities PLC (JEMA). JEMA said VTB is expected to obtain an enforcement order by mid-September that could allow enforcement actions against J.P. Morgan assets in Russia if the order is served on the Russian central bank. JEMA said it will seek further appeals and a stay of enforcement and pointed to a Russian decree that protects certain client assets and ruble cash in S-accounts; the situation remains "dynamic." » More on de.investing.com

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In 2021, VTB BANK GDR has already paid €0.0325 in dividends. The last payout was in August 2021.

Fundamentals

Metric	Value
Market capitalization	€0
Dividends	No
Beta	0.92
P/E ratio	0.84
PEG ratio	-0.03
P/B ratio	0.11
P/S ratio	0.05

Company profile

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, Medium and Small Banking, Retail Business, Treasury, and Other Business. It offers standard term deposits, structured deposits, promissory notes, and corporate overnight accounts, as well as placement of funds on current accounts; credit lines, overdraft loans, complex loan products, consultancy services, and loans to the mining industry, as well as short-, medium-, and long- term loans; and credit operations through remote banking systems. The company also provides cash management products and services; guarantees transactions, letter of credits, and documentary and clean collection services; pooling products; factoring, leasing, pension fund, and registrar services; investment products and services, including debt and equity capital market products, corporate finance, FX and rates, securitization, commodities, securities market, credit derivatives, equities, derivatives, equity repo and structured finance, private equity and special situation solutions, infrastructure and project finance, and portfolio management and research services; and depository services. In addition, it offers cash and settlement, 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 corporate cards. VTB Bank (public joint-stock company) was founded in 1990 and is headquartered in Moscow, Russia.