VTB for the year turned a loss into profit

For the first half of the VTB group reported a net profit of $ 15.4 billion. The relevant information contains in the financial report of the organization published on the website of VTB on Tuesday, August 16.

Over the same period of the previous year, the Bank showed a loss of 17.1 billion rubles. “The positive impact on profitability had high net interest income and a significant increase in net Commission income amid the recovery in business activity as a whole,” the Bank said.

Net interest income in January-June of 2016 grew by 88 percent — of 110.1 billion to 207 billion. Net fee and Commission income increased by 12.3 per cent from 32.6 billion to 36.6 billion rubles.

Corporate loan portfolio grew by 0.67 per cent to 7.3 trillion rubles, individuals — by 2.79 percent to 2.04 trillion rubles.

VTB financial group, formed around the same Bank and with over 20 lending and financial companies. The main shareholder is the state represented by Rosimushchestvo and the Ministry of Finance.

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