Russia’s second-largest state-controlled bank VTB Bank posted a net profit decline of 37% quarter on quarter under IFRS in 3Q24 and a 13% year-on-year increase to RUB98bn, making a return on equity of 16%. In 9M24 overall net profit remained flat y/y at RUB375bn, with a ROE of 21%. As followed by bne IntelliNews, the core capital adequacy ratio (N1.1) of VTB fell to 5.31% at the beginning of September 2024, close to the regulatory minimum of 4.5% excluding surcharges. Analysts suggested that the bank would have to reorganise to address the capital problem. VTB’s IFRS report showed a stabilisat…