Ruble Strengthening and VTB's Return to Dividend Payments. Financial Market Review, April 28

The dollar exchange rate on April 29 was reduced to 82.55 rubles, and the euro exchange rate to 93.18 rubles. After a pause, VTB returns to regular dividend payments - the bank did not pay them for 2021-2023

Currency

The Chinese yuan exchange rate fell on the Moscow Exchange during the trading session on April 28. By 19:00 Moscow time, the Chinese yuan exchange rate was 11.20 rubles, which is 13 kopecks lower than the closing level of the previous trade.

The official exchange rate of the US dollar against the ruble, announced by the Bank of Russia on April 29, decreased by 0.11 rubles and amounted to 82.55 rubles. The official exchange rate of the euro against the ruble, announced by the Bank of Russia on April 29, decreased by 1.18 rubles and amounted to 93.18 rubles.

The Central Bank of the Russian Federation calculates official rates based on data from financial statements of credit institutions based on the results of interbank conversion transactions on the over-the-counter foreign exchange market.

On the global currency market, the dollar index against a basket of six major currencies DXY fell and by 20:30 Moscow time was around 98.9 points.

Stock

The main trading session on the Moscow Exchange ended with growth in the main indicators. The Moscow Exchange Index rose by 0.9% and closed at 3,033 points. The RTS Index rose by 1.1% and ended the trading session at 1,157 points.

VTB's Supervisory Board recommended that the shareholders' meeting allocate 50% of the net profit under IFRS for 2024, or 274.75 billion rubles, to dividends, the bank said in a statement. The dividend amount per ordinary share will be 25.58 rubles, the total amount of payments to holders of ordinary shares will be 137.4 billion rubles.

The annual general meeting of VTB shareholders will be held on June 30, 2025. The Supervisory Board recommended setting the date for compiling the list of persons entitled to receive dividends as July 11, 2025.

VTB did not pay dividends for 2021-2023. In 2024, VTB Group increased its net profit under IFRS by 28% to 551.4 billion rubles. In 2025, VTB plans to earn 430 billion rubles in profit.

VTB shares rose by more than 20% (to 109.04 rubles per share) on news of the resumption of dividend payments.

The main indicators of the US stock market showed a downward trend in the first half of the trading session. By 20:30 Moscow time, the Dow Jones industrial index had fallen by 0.6%, the S&P 500 index had lost about 1%, and the NASDAQ-100 had fallen by 1.3%.

This week, the market is awaiting the publication of important statistics. In particular, on April 30, a preliminary report on the dynamics of US GDP in the first quarter will be released, as well as March data on income and spending of Americans, which includes a key indicator of inflation monitored by the Federal Reserve System (FRS). In addition, on May 2, the US Department of Labor will publish the April report on the situation on the labor market.

Oil

Oil prices fell on the evening of April 28. The price of Brent oil futures contracts on the London ICE Futures exchange was around $65.5 per barrel by 20:30 Moscow time. The price of WTI oil futures on the New York Mercantile Exchange by this time was around $61.5 per barrel.