February 26, 2018 / 11:37 AM / 3 months ago

Russia's VTB to channel at least 50 percent of 2017 profit to dividends

MOSCOW (Reuters) - Russia’s second-largest lender VTB (VTBR.MM) will channel at least 50 percent of its 2017 net profit into paying dividends, Deputy Chief Executive Herbert Moos said on a conference call on Monday.

VTB said earlier it made 120.1 billion roubles (1.53 billion pounds)in 2017 net profit.

    Moos also said VTB expected to post five percent growth in corporate lending and an 11 percent increase in retail lending in 2018.

    Reporting by Tatiana Voronova; writing by Andrey Ostroukh; editing by Jason Neely

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