OREANDA-NEWS. VTB Bank, the parent company of VTB Group (“the Group”), today publishes its unaudited consolidated IFRS results for the 2 months ended 28 February 2017.

Income Statement

  • Net profit in 2M 2017 increased 10 times to RUB 20.4 billion compared to net profit of 2.1 billion for 2M 2016;
  • In 2M 2017, net interest income was RUB 72.9 billion, up 14.4% year-on-year (2M 2016: RUB 63.7 billion) due to increase of net interest margin to 4.1% in 2M 2017 from 3.2% in 2M 2016;
  • In 2M 2017, net fee and commission income grew 6.0% year-on-year to RUB 12.3 billion (2M 2016: RUB 11.6 billion).

Statement of Financial Position

  • Total assets amounted to RUB 12,543.3 billion as of 28 February 2017, down 0.3% year-to-date. Gross loans and advances to customers contracted 1.3% in 2M 2017. Gross loans to individuals grew 0.9%, while gross loans to legal entities contracted 2.0%;
  • The NPL ratio was 6.6% of total gross loans as of 28 February 2017, up 20 bps year-to-date. The NPL coverage ratio was 104.4% (31 December 2016: 104.6%);
  • Total customer deposits grew 12.4% in 2M 2017, reaching RUB 8,257.0 billion as of 28 February 2017. For 2M 2017 deposits from legal entities grew 22.5%, while deposits from individuals contracted 2.2%;
  • The adjusted loan-to-deposit ratio was 102.8% as of 28 February 2017 (31 December 2016: 105.4%).