MOSCOW, April 4 (RIA Novosti) - Morgan Stanley has upgraded the rating of VTB Group's global depository receipts (GDR) from "sell" to "hold," a Morgan Stanley report indicated Friday.
VTB Group's guide price has jumped by 15 percent, from 2 to 2.3 dollars per receipt, meaning its assets can potentially grow by another 10 percent.
Russia's second-biggest bank boosted its net profit last year by 10.9 percent to a record 100.5 billion rubles ($5 billion). In the fourth quarter, the bank reaped 54.5 billion rubles ($1.55 billion), a 79.3 percent increase year-on-year.
