VTB says IFRS net profit at 86 bln rbl in July–September

MOSCOW, Oct 26 (PRIME) -- The net profit of Russia’s second biggest lender VTB Bank stood at 86.1 billion rubles in July–September, as calculated under International Financial Reporting Standards (IFRS), Deputy CEO Dmitry Pyanov said on Thursday.

"VTB earned a net profit of 86.1 billion rubles in the third quarter which drives us to a nine-month result of 375.9 billion rubles, which means an almost 376 billion ruble net profit," Pyanov said.

The corporate loan portfolio grew by 4% in July–September, or 2% without the currency rate adjustments. The January–September rise stood at 14% and 8% respectively.

The households' loan portfolio expanded by 9% in July–September and by 19% in January–September. Mortgage and car loans accelerated most.

Spending on reserves against losses stood at 35.9 billion rubles in July–September and at 130 billion rubles in January–September.

The bank did not disclose the figures for the same period of 2022 thanks to a central bank order, he said.

According to the executive, the bank confirmed an earlier net profit estimate for 2023 at 420 billion rubles.

(93.1507 rubles – U.S. $1)

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