March 01, 2017, 11:00 / Finance

VTB profit increased 30 times in 2016

net profit VTB's according to IFRS in 2016 increased 30.4 times - to 51.6 billion rubles. compared to RUB 1.7 billion. profits for 2015, according to the group’s reporting. In the fourth quarter, VTB earned 17.5 billion rubles. profit, which is 38.9% more than the result for the same period in 2015.

The reporting reflects income of 2.9 billion rubles. from the sale of 74% of the shares of JSC FC Dynamo and 3.1 billion rubles. from the sale of 23.079% to Zapadnaya Gold Mining (Zapadnaya GRK). VTB Group has been a shareholder of Zapadnaya Gold Mining since 2012; according to the latest data, control of the company (75%) belongs to management.

VTB’s results turned out to be slightly better than the consensus forecast of Interfax (51 billion rubles for the year as a whole) and the bank itself, which expected net profit in 2016 at the level of 50 billion rubles.

The group's loan portfolio in 2016 decreased by 6.2% to RUB 9.487 trillion. due to the repayment by legal entities of several large foreign currency loans and currency revaluation, VTB notes.

VTB retail lending growth last year was 11%; in the fourth quarter, loans to individuals reached RUB 2.175 trillion. The share of mortgage loans in the total portfolio of loans to individuals reached 45.9%. The shares of consumer loans and credit card loans in the portfolio were 43.8% and 5.9%, respectively.

Previously on the topic: VTB plans to double its net profit