VTB24 earnings down 7% to 36 bln rubles in 2013
MOSCOW. May 6 (Interfax) - VTB24 had net profit of 36.08 billion rubles to International Financial Reporting Standards (IFRS) in 2013, down 6.8% from 2012, the bank said in a report.
Net interest income before provisions rose to 123.86 billion rubles from 93.71 billion rubles. Loan-loss provision charges more than doubled, to 39.68 billion rubles from 18.23 billion rubles. Net commission increased to 17.8 billion rubles from 14.67 billion rubles, non-interest expenses went up 36% to 63.55 billion rubles and pretax profit fell 7.5% to 44.55 billion rubles.
The bank's assets rose 38% during 2013 to 2.049 trillion rubles. Loans and advances grew to 1.482 trillion rubles last year, from 1.002 trillion rubles in 2012. This included 1.303 trillion rubles in retail loans, up from 870.96 billion rubles.
Client deposits and accounts increased to 1.645 trillion rubles last year, from 1.194 trillion rubles in 2012, including retail deposits - 1.362 trillion rubles, up from 1.003 trillion rubles.
Total equity increased to 258.62 billion rubles last year, from 167.91 billion rubles in 2012, including Tier 1 - 169.94 billion rubles, up from 140.11 billion rubles. The total capital adequacy ratio was 16.14%, up from 15.58% a year previously, including Tier 1 - 10.61%, down from 13.00%.
Overall remuneration and other payments for directors and key employees, including annual bonuses, rose to 2.148 billion rubles last year, from 1.101 billion rubles in 2012.
VTB24 was Russia's fourth largest bank by assets, according to the Interfax-100 ranking at the end of Q1 2014. It was ranked second by retail deposits and loans. The bank fully integrated Transcreditbank and its subsidiaries in November last year following a merger.
