VTB it was again dismissed
Bank has earned on decrease in deductions in reserves
Bank VTB has published results of work on RSBU for ten months according to which the bank net profit in October has grown on 15,52 billion As a result from the beginning of year bank already has earned 23,44 mlrd rbl. However, to receive positive financial result VTB it was possible thanks to the decreased rates of the Central Bank and that the bank has reduced deductions in reserves by possible losses.
head VTB Andrey Kostin has decided to constrain the promise given by it the prime minister - to minister Vladimir Putin during last working meeting (see daily from October, 30th). The bank remains profitable the second month successively. And if in September VTB has reported that has earned 7,9 mlrd net profit rbl. on RSBU in October its profit has grown for 15,52 mlrd rbl. In the bank communique it is told that the net profit increase in October is connected with “ High level of incomes of primary activity “ but also, thanking “ to dissolution of reserves on possible losses under loans and other actives “. The similar reasons of reception have arrived bank named and in September.
yesterday in VTB have refused to inform, what share have arrived in October bank has received thanks to decrease in deductions in reserves. “ the contribution of incomes of primary activity to financial result for October was above, than result from dissolution of reserves, - have declared daily in a press - bank service. - volume of the dismissed reserves in October essentially below a corresponding indicator for September “.
the Analyst of bank “ the WHALE of Finans “ Maria Kalvarsky says what get additional profit on operational activity bank VTB could thanks to the decreased rates of the Central Bank. “ As to profit on decrease in deductions in reserves, that, considering volume of credit portfolio VTB, to bank was to translate in the category of better loans their only small percent that it was already reflected in its profit " enough; - explains g - zha Kalvarsky. As she said, a part of problem credits VTB could re-structure simply. According to analyst IK “ the Renaissance the Capital “ Maxim Raskosnova, expected level of reservation in the beginning of 2010 can reach 12 % on the average on bank system. “ considering this forecast, reduction of reserves below 5 % at VTB contradicts a market tendency “ - considers g - n Raskosnov.
Earlier the first vice-president of the Central Bank Gennady Melikjan spoke: “ In a number of banks - them I will not name - large loans have been extinguished some. Accordingly, banks have dismissed reserves on them “. He has advised to banks not to hasten with reduction of reserves. By words g - on Melikjana, now level of a covering of the delayed debts on system makes 1,7 to 1, but thus the problem debts on the fourth and fifth groups of actives become covered not completely, and on them 10 % of a credit portfolio are necessary.
“ VTB the Capital “ there were on profit
Analysts “ Three Dialogue “ yesterday have informed that a target profit level “ daughters “ VTB - the companies “ VTB the Capital “ - this year makes 200 million dollars As has informed at a meeting with analysts invest the head of financial department VTB Herbert Moos, bank has enclosed the companies in the company about 500 million dollars and in the first half of the year “ VTB the Capital “ has overcome a point bezuby accuracy, having earned 100 million dollars of profit to taxes at a gain about 400 million dollars daily