IFRS net profit at VTB Bank in January-June 2011 amounted to Rub 53.6 bln, leaping 113.5% on the year-ago period, the bank’s press service reported. Return on equity (ROE) came in at 18.1% compared to 9.7% in the first half of 2010.

Pre-tax profit of the group’s corporate investment banking activities totaled Rub 51.2 bln, up 100% y-o-y, while pre-tax profit of retail operations reached Rub 20.2 bln, a surge of 80.4%.

Net interest income, including net restoration of losses when financial instruments are initially recognized and credits are restructured, amounted to Rub 105 bln (+21.4%). The lender’s net commission income reached Rub 17.9 bln, exceeding the year-earlier indicator by 51.7%.

The bank’s net interest margin stabilized at 4.8% in January-June 2011. In April-June 2011 the bank’s net interest margin reached 4.9%, rising 0.1% against 1Q.

Operating profit before reserves totaled Rub 153 bln, surging 45.2% y-o-y.

The lender’s credit portfolio before reserves jumped 7% to Rub 3.27 tln in 2Q, while the corporate credit portfolio rose 6.4% and household loans climbed 9.6%. Clients’ funds totaled Rub 2.63 tln, leaping 11% in 2Q and 19.1% in January-June.

banki.ru