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VTB net profit rises 17% in November

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MOSCOW, December 4 (RIA Novosti) - State-controlled foreign trade bank Vneshtorgbank (VTB) said Monday its net profit in January-November 2006 was 9.8 billion rubles ($373.3 million), up 17% from the January-October figure.

VTB said the growth of net profit was due to revenues on operations with securities.

Earlier it was reported that VTB's net profit in January-October 2006 was 13.6% lower than the January-September figure.

VTB is Russia's second-largest bank, with the government holding 99.9% of its stock.

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