Russia's VTB-24 Bank posts 400% net profit rise in 2008

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MOSCOW, March 5 (RIA Novosti) - VTB-24, one of Russia's largest retail banks, said on Thursday its net profit to International Financial Reporting Standards jumped an estimated 400% in 2008, year-on-year, to 6.1 billion rubles ($170 million).

The bank's credit portfolio expanded to 349 billion rubles ($9.7 billion) and its assets totaled 600 billion rubles ($16.8 billion), VTB-24 said.

VTB-24 is part of the VTB Group, which provides banking services and products in Russia, former Soviet republics, Western Europe, Asia and Africa.

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