MOSCOW, June 4 (RIA Novosti) - VTB increased its net profit calculated to Russian Accounting Standards by 178% year-on-year to 11.111 billion rubles ($469 million) in the first five months of 2008, the Russian state-run foreign trade bank said Wednesday.
VTB, Russia's second largest bank, posted 18.2 billion rubles ($744 million) in net profit in 2007, a 6% rise on 2006.
The government holds a 77.47% stake in VTB, which alongside its subsidiaries comprises VTB Group, which provides banking services and products in Russia, former Soviet republics, Western Europe, Asia and Africa.
