VEB increases IFRS net profit 150% to 31.8 bln rubles in 9mths
MOSCOW. Dec 14 (Interfax) - Vnesheconombank increased net profit according to international financial reporting standards (IFRS) by 150% to 31.808 billion rubles in January-September 2012 from 12.899 billion rubles in the same period of 2011, the bank said in its financial reporting.
VEB's net profit in the third quarter came to 10.238 billion rubles compared to 10.312 billion rubles in net losses for the same period of 2011.
Pretax profit in the nine months went up by 160% to 33.9 billion rubles.
Net interest revenue prior to the subtraction of provisions in the nine months went up by 24.3% to 59.5 billion rubles. After subtraction of provisions, the figure doubled to 38.8 billion rubles.
The bank increased interest revenue by 29.8% to 149.9 billion rubles, and interest expenditures - 33.7% to 90.4 billion rubles.
VEB posted 600 million rubles in losses for operations investment assets in place for sale in the nine months compared to 13.1 billion rubles in revenue for the same period of 2011.
Revenues prior to expenditures on operations with forex came to 12.7 billion rubles compared to 4.5 billion rubles in losses last year.
Non-interest revenue in the nine months rose by 60% to 22.4 billion rubles. Non-interest expenditures increased by 23.1% to 30.3 billion rubles.
Expenditures for forming provisions in January-September came to 21 billion rubles, down 28.3% year-on-year.
