Russian Post's net loss for the first nine months of 2024 increased 3.6 times year-on-year and amounted to RUB 9.4 billion. Alexey Kurasov, Head of Corporate Finance at Finam JSC, believes that the company will spend the proceeds from the sale to cover the net loss, and part of it will go to finance losses in 2025-2026.
Among the advantages of france telegram the deal between Russian Post and VTB, Alexey Kurasov named money, while the disadvantages were that Post Bank was a good asset that brought in a constant cash flow: "This is a profitable deal for VTB, which will allow it to significantly increase its assets. Russian Post incurred a loss of almost 10 billion rubles over nine months in 2024, and the assets, mainly real estate, that the postal operator planned to sell, were not in demand on the market, so the deal with VTB had to be accelerated."
Chief Investment Consultant of Veles Capital LLC Dmitry Sergeev suggested that the acceleration of the deal occurred at the request of VTB, whose profit in 2024 is expected to be at the level of 550 billion rubles, and in 2025 it will decrease to 400 billion rubles. According to Dmitry Sergeev, in order to ensure that a major deal in 2025 does not negatively affect capital adequacy indicators, VTB decided to close the deal already in 2024.
Dmitry Sergeev noted that the funds received from the deal in the amount of 36 billion rubles will cover the loss of Russian Post for 2024 and 2023 (7.1 billion rubles), but not the loss of 2022 in the amount of 30.3 billion rubles. "Obviously, Russian Post must use the funds received as prudently as possible, find a synergistic effect of working with new client flows of VTB, establish cross-sales of new services, provide the bank's clients with related goods and services in order to get out of the zone of negative profitability. Let's hope that the approved strategy of Russian Post until 2030 will bring results," Dmitry Sergeev reasons.