MOSCOW, December 26 (RIA Novosti) - VTB, Russia's second largest bank, increased its net profit to Russian Accounting Standards in the first 11 months of 2007 by 51.2% year on year to 14.8 bln rubles ($600.6 mln), the Central Bank said Wednesday.
Pre-tax profits of the state-run bank in the reporting period grew 47.7% year on year to 23.1 bln rubles ($937.5 mln).
The bank, in which the state holds a 77.47% stake, expects to boost asset value by 55-60% year on year by the end of 2007, and to increase its credit portfolio by 75-80%.
