Support The Moscow Times!

VTB Predicts $3Bln Profit

VTB expects to achieve net profit of more than 100 billion rubles ($3 billion) in 2013, the bank's deputy CEO, Herbert Moos, said at the annual shareholders meeting on Friday, Interfax reported.

"We have confirmed a plan that presupposes an increase in profit. Judging by the first quarter results, we expect that our corporate credit portfolio will grow by about 4 percent and our retail credit portfolio by 7 percent. This is profitable growth, delivering basic income," said Moos.

Previously, VTB had forecast a rise in net profit in 2013 of up to 140 billion rubles.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.