VTB sees IFRS pre-tax profit from corporate, investing banking fall 38% in 2012
MOSCOW. April 24 (Interfax) - VTB saw profit before tax from its corporate and investment banking business drop 38% to 52.4 billion rubles in 2012, the bank said, citing its data to International Financial Reporting Standards (IFRS).
VTB's investment business earned it 10.5 billion rubles in profit before tax, its transaction business generated 15.6 billion rubles, and its loans and deposits sub-segment within the corporate and investment banking business posted 26.2 billion rubles in pre-tax profit. In 2011, this sub-segment had 64 billion rubles in earnings before tax, while the investment banking sub-segment earned just 1 billion rubles, and the transaction business received 19.2 billion rubles.
The corporate and investment banking block had 130.6 billion rubles in net interest income last year, while net commission income came to 22.1 billion rubles, and operating income totaled 145.4 billion rubles.
