|Bid||0.0370 x 80000000|
|Ask||0.0370 x 2201000000|
|Day's range||0.0370 - 0.0377|
|52-week range||0.0276 - 0.0444|
|Beta (5Y monthly)||1.36|
|PE ratio (TTM)||0.00|
|Earnings date||06 May 2021 - 10 May 2021|
|Forward dividend & yield||0.00 (2.07%)|
|Ex-dividend date||02 Oct 2020|
|1y target est||0.05|
The central bank cut its benchmark interest rate to a record low of 4.25% in July. With inflation seen rising towards the bank's 4% target from 3.2% in the coming months, deposit rates have become less lucrative and the cost of borrowing has come down. Deputy Chairman of VTB's management board Anatoly Pechatnikov said the bank expects mortgage loans to grow by 12% this year, but stressed that the uncertainty caused by the COVID-19 pandemic meant it was too early to give any exact forecasts.
Russian steel and coal producer Mechel <MTLR.MM> has sold its stake in the Elga coal mine in Russia, which was its main asset for future growth, to a local businessman to reduce debt, it said on Wednesday, sending its Moscow-listed shares up 17%. After the deal to sell one of the world's largest coking coal deposits was agreed, two state-controlled Russian banks - Gazprombank and VTB - agreed to restructure part of Mechel's debt by 7 years with an optional extra 3 years, Mechel said. "With the current economic situation and our debt leverage in mind, we made a difficult but well-considered ... decision to sell Elga Coal Complex," Oleg Korzhov, Mechel chief executive, said in a statement.