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Russia's VTB posts $533 mln net profit for October

© RIA Novosti . Sergei PiatakovRussia's VTB posts $533 mln net profit for October
Russia's VTB posts $533 mln net profit for October - Sputnik International
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VTB, Russia's second largest bank, announced on Thursday a net profit of 15.52 billion rubles ($533 million) in October, calculated to Russian accounting standards.

MOSCOW, November 5 (RIA Novosti) -- VTB, Russia's second largest bank, announced on Thursday a net profit of 15.52 billion rubles ($533 million) in October, calculated to Russian accounting standards.

It also said its net profit in the first 10 months of the year was 23.44 billion rubles ($806 million).

Its aggregate assets were up 4% to 2.653 trillion rubles as of November 1, from 2.551 trillion as of January 1.

The bank attributed the increase to higher revenues from its core operations, as well as the effective use of reserves to cover losses on loans and other assets.

VTB provides banking services and products in Russia, former Soviet republics, Western Europe, Asia and Africa.

 

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