VTB More Than Doubles Profit in 2015 as Provision Charge Drops
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VTB Group’s profit more than doubled in 2015 as Russia’s second-largest bank set aside less money to cover bad loans.
Net income rose to 10.7 billion rubles ($156 million) compared with 4.1 billion rubles a year earlier, the lender said in a statement on its website. Net interest income fell 17 percent to 289 billion rubles, while its provision charge dropped 35 percent to 178 billion rubles.