February 26, 2020 / 9:43 AM / a month ago

CORRECTED-Russia's VTB says targeting $3.5 bln net profit in 2020

(Corrects figure in first paragraph to read 220-230 billion roubles, not 220-220, and changes euros to roubles in second paragraph)

MOSCOW, Feb 26 (Reuters) - Russia’s second-largest lender VTB is targeting net profit of 220-230 billion roubles ($3.4-3.5 billion) in 2020, the bank said in a presentation on Wednesday.

VTB’s 2019 net profit hit 201.2 billion roubles, a record high, and a touch above the 200 billion roubles it was targeting, as provisions for bad loans fell.

$1 = 65.3110 roubles Reporting by Maria Grabar; writing Alexander Marrow; editing by Jason Neely

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