VTB Bank IFRS net profit rises to 139.7 bln rbl in Jan–Sep
MOSCOW, Nov 8 (PRIME) -- The net profit of Russia’s second-biggest lender VTB Bank almost doubled on the year to 139.7 billion rubles in January–September, as calculated under International Financial Reporting Standards (IFRS), the bank said in a statement on Thursday.
In July–September, the net profit more than doubled to 41.2 billion rubles.
Expenses for reserves fell 5.8% to 111.4 billion rubles in January–September, and rose 0.5% to 42.4 billion rubles in July–September.
Corporate loan portfolio rose 13.7% to 8.306 trillion rubles, and retail loan portfolio grew 5.1% to 2.663 trillion rubles.
The bank has confirmed its 2018 IFRS net profit outlook at 170 billion rubles.
“With sufficient visibility through the end of the year, we are therefore confirming our FY 2018 guidance. This also means we remain well on track to achieve targets laid out in our three-year strategy. We remain focused on efficiency, keeping costs growth well below core income lines,” the statement quoted CEO Andrei Kostin.
For further details, see the company’s statement on its official website:
(66.0918 rubles – U.S. $1)
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