14 Jan 2010 18:57

VTB ups RAS earnings 6.3% in 2009

MOSCOW. Jan 14 (Interfax) - VTB increased net profit to Russian Accounting Standards (RAS) 6.3% in 2009 before adjustment for events after the reporting period.

Russia's second biggest bank said in a statement that net profit for the year was 27.961 billion rubles on this basis. It was 26.312 billion rubles in 2008.

Profit adjusted for events post-reporting period was 26.894 billion rubles, or 4% more than in 2008.

Net profit to RAS was 31.877 billion rubles in January-November 2009, so the bank must have generated 3.916 billion rubles in profit in December.

Bank assets rose 4.8% to 2.674 trillion rubles in 2009, up from 2.551 trillion rubles. Deposits from corporate clients increased 39.4% to 1.002 trillion rubles.