As of February 1, 2016 VTB 24's capital exceeded Rub 300 bln under RAS, rising over Rub 30 bln y-o-y, the lending institution's press service told Banki.ru.
"The main factor which allowed the bank to ramp up capital is record profit generated in 2016. Last year VTB 24 earned Rub 43.1 bln under RAS. The bank's financial performance was influenced the most by sharp expansion of the credit portfolio, a steep decline in NPLs and falling provisions, improved operating efficiency and the launch of remote service channels for customers," the bank's press service noted.
The Banki.ru news and analytical service noted that VTB 24 indeed chalked up record results as in 2016 the bank managed for the first time to beat 2012 numbers when it posted profit of Rub 37 bln. "First and foremost, this result was driven by a sharp decline in the provisions against the credit portfolio, and also an increase in the bank's interest, operating and commission income," Banki.ru experts pointed out.
