May 17, 2018 / 9:35 AM / in 5 months

Russia's VTB doubles Q1 net profit

MOSCOW, May 17 (Reuters) - VTB reported a first-quarter net profit of 55.5 billion roubles ($897.91 million) on Thursday as Russia’s second biggest bank nearly doubled its profit and beat forecasts.

VTB said provisions against bad loans stood at 20.7 billion roubles, down from 45.9 billion roubles a year earlier.

$1 = 61.8100 roubles Reporting by Andrey Ostroukh; editing by Jason Neely

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