August 9, 2018 / 7:44 AM / in 7 days

Russia's VTB Q2 net profit up 41.9 pct y/y, beats forecast

MOSCOW, Aug 9 (Reuters) - Russia’s VTB said on Thursday its second-quarter net profit was up 41.9 percent to 43 billion roubles ($650.5 million) year-on-year, on strong interest and comissions income, beating forecasts.

VTB, Russia’s No.2 bank and controlled by the government, said provisions for non-performing loans were at 48.3 billion roubles in the second quarter versus 30.1 billion in the same period a year ago.

A Reuters poll of analysts has expected VTB to post 38.9 billion roubles in second-quarter net profit with provisions at 46.6 billion roubles. ($1 = 66.1022 roubles) (Reporting by Katya Golubkova and Polina Ivanova; editing by David Evans)

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