MOSCOW, Nov 11 (PRIME) -- The net profit of Russia’s second largest bank VTB more than quadrupled on the year to 237.5 billion rubles in January–October, as calculated under Russian Accounting Standards (RAS), the bank said in a report on Thursday.
Spending on reserves shrank to 79.9 billion rubles from 248.4 billion rubles in the same period of 2020. The corporate loan portfolio increased 6.6% in the period to 9.1 trillion rubles as of the end of October, while the retail loan portfolio jumped 28.1% to 4.2 trillion rubles.
In October, the bank posted a net profit of 33.9 billion rubles, and spending on reserves plummeted to 1.6 billion rubles.
(70.6950 rubles – U.S. $1)
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