PRIME-TASS. Net profit generated by VTB 24, a retail subsidiary of VTB Bank, in 2012, including events occurring after the reporting date, totaled Rub 37.07 bln under RAS, or 39.4% higher than a year ago, the lending institution said in its annual financial statement.
Last year the lender’s net profit, excluding events occurring after the reporting date, amounted to Rub 36.95 bln. VTB 24 CEO Mikhail Zadornov said in January that last year the lender’s net profit climbed 50%, i.e. far above the Russian banking system’s average. He added that for the third year in a row the bank has ranked third in terms of profit in the Russian banking system, and only fifth in terms of assets.
This means that the bank’s net profit, including events occurring after the reporting date, rose Rub 123.39 mln mainly following overpayment of the corporate profit tax and an increase in operating income.
