Russia’s VTB IFRS net profit rises 1.7% to 165.4 bln rbl Jan–Oct

MOSCOW, Dec 27 (PRIME) -- The net profit of Russia’s second biggest lender VTB rose 1.7% on the year to 165.4 billion rubles in January–November, the bank said in a statement on Friday.

“In November we saw continuation of the core profitability growth trend on the backdrop of net interest margin expansion, slowing down of costs growth, improvement of asset quality and further strengthening of the balance sheet structure. The group’s net profit in November 2019 was 17.8 billion rubles, which corresponds to return on equity of 13.3%. The results of November and 11 months of 2019 support our full year net profit guidance of 200 billion rubles,” Deputy CEO Dmitry Olyunin said, as cited in the statement.

Assets rose 6.2% on the year to 15.7 trillion rubles as of November 30.

For further details, see the company’s statement on its official website:

https://www.vtb.com/o-banke/press-centr/novosti-i-press-relizy/2019/12/2019-12-27-gruppa-vtb-obyavlyaet-finansovye-rezultaty-po-msfo-za-noyabr-i-11-mesyatsev-2019-goda/

(61.7676 – U.S. $1)

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