VTB Bank shareholders approved Rub 44.4 bln to be paid out in dividend for 2016. This decision was taken at the bank's annual shareholders meeting, VTB Bank's press service reported.

"The shareholders decided to approve 2016 dividend payouts of Rub 0.00117 per placed common registered share of VTB Bank with Rub 0.01 par value, Rub 0.00052 per placed preferred type-one VTB Bank share with Rub 0.01 par value and Rub 0.00588849 per preferred type-two share with par value of Rub 0.10," said the press release.

In total, Rub 15.2 bln will be paid out on common registered shares, Rub 11.1 bln on preferred type-one registered shares and Rub 18.1 bln on preferred type-two registered shares.

VTB Group's FY16 IFRS net profit reached Rub 51.6 bln compared to Rub 1.7 bln in 2015. As VTB Bank previously reported, profit was generated "on the back of a sharp rise in operating profit, including a 43.5% y-o-y surge in net interest income and faster growth (16.7% y-o-y) of net commission income in 4Q 2016 and a 7.3% leap in 2016".

According to VTB Bank Deputy President and Management Board Chairman Herbert Moos, VTB Group intends to garner Rub 150 bln in net profit in 2018. The group plans to earn Rub 150 bln in net profit in 2018 and over Rub 200 bln in 2019, he said. VTB Bank expects to earn around Rub 10 bln in net profit this year, Moos earlier told journalists.