VTB continues to increase reserves and not hoping for big profits
VTB, the second largest Russian Bank assets, continues to increase reserves and no hope of big profits in 2014, said the head of the Bank Andrey Kostin.
" our reserves will grow, and We will continue to build, and We are making a good profit In the current year do not count, " said Kostin reporters on the sidelines of the Sochi economic forum.
VTB had previously reported that in January-June was sent to the reserves for impairment of debt financial assets 92, 8 billion rubles against 50, 7 billion the year before.
" You see on the first six months that We have doubled the formation of reserves, they are at the level of Sberbank, although Sberbank 2 times more assets, for this reason We will continue. We wish to have a healthy Bank with a strong airbag. Even if no pillows, no questions asked, " said Kostin, noting that the problems of the Bank shall include provisions in Ukraine and " Mechel ".
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