January 23, 2018 / 1:16 PM / a year ago

Russia's VTB sees 2018 net profit at up to 170 billion roubles

A police officer stands guard near a sign with the logo of the Russian lender VTB at the Moscow International Business Centre also known as "Moskva-City" in Moscow, Russia November 21, 2017. REUTERS/Maxim Shemetov

MOSCOW (Reuters) - VTB (VTBR.MM), Russia’s No.2 bank, expects to make up to 170 billion roubles (2.16 billion pounds) in net profit in 2018, the bank’s Chief Executive Andrey Kostin said on Tuesday, Russia’s RIA news agency reported.

In 2017, VTB’s net profit was seen at 107 billion roubles, Kostin said at an economic forum in Davos, repeating the assessment he voiced in an interview with Reuters earlier this month.

Kostin also said that VTB planned to bring VTB’s net profit up to 220 billion roubles in 2019, RIA reported.

(This version of the story corrects to read 2019, paragraph 3)

Writing by Andrey Ostroukh

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