VTB Management Board forgoes 2019 bonus payment in April

VTB Bank Management Board decided to suspend paying out its bonuses for 2019 in April 2020. Uncertainties in the assessment of ramifications of COVID-19 pandemic on the economy and the banking industry make the payment of bonuses to the Management Board inexpedient at this time. 

The Management Board recommended that the Supervisory Council addresses the bonus issue for 2019 later in the year, but no earlier than September 2020, after considering the dividend payment for 2019 when VTB Group's net profit amounted to RUB 201.2 bn.