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VTB annual profit rise to beat expectations

February 12, 2008 | RBC

VTB is expecting that its net profit under IFRS will be up by more than 15 percent in 2007, the Russian bank's President Andrei Kostin told journalists in Delhi, dismissing an earlier 10-15 percent estimate as a "conservative" one. The VTB chief noted that the bank's assets and loan portfolio grew considerably in 2007. In particular, its retail loan portfolio more than tripled, and the corporate one rose some 80 percent. Commenting on concerns of some bankers that growth within the banking sector and lending would decelerate by one third during the current year, Kostin contended that such a trend was not mandatory for VTB, even though the rate of rise would decrease somewhat in 2008.

Company: VTB

Full company nameBank VTB (PJSC)
Country of riskRussia
Country of registrationRussia
IndustryBanks

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