Baku. Nijat Mustafayev – APA-Economics. in the first half of this year, Russian Vneshtorgbank’s subsidiary companies’ net profit rose 32.5% or RR 1.4 bln ($ 45 mln) to RR 5.7 bln ($184 mln), said the head of VTB subsidiary companies division Mikhail Yakunin.
According to him, role of foreign banks in VTB group increases. Yakunin spoke about financial performances for first half of 2012 and noted that he expected analogical dynamics in the future.
VTB’s subsidiary companies paid RR 7.5 bln ($242 mln) dividends in 2011.
Total profit of bank’s subsidiary companies in Europe made RR 4.8 bln ($155 mln), these companies involved more than 100,000 clients and assets reached 1.9 bln Euros. Profit of VTB-Germany was over RR 1 bln ($32.3 mln), VTB-France’s profit reached RR 1.2 bln ($ 38.7 mln).
In Asia, VTB Group operates in China, India and Vietnam. IN China, VTB’s main direction is currency exchange, in which the sum of deals exceeded RR 38 bln ($1.2 bln). Bank’s Indian branch operates in retail market of this country.
Speaking about VTB operation in CIS countries, Yakunin said that in CIS, VTB’s all subsidiary companies operated at profit, excluding Azerbaijan and Kazakhstan. VTB Ukrainian branch got RR 1.6 bln ($ 51.6 mln), Belarusian branch – RR 218 mln ($7.032 mln), Georgian branch – RR 185 mln ($ 5.967 mln), Armenia – RR 145 mln ($4.677 mln). VTB-Georgia and VTB-Armenia started to pay dividends for the first time.
“Our subsidiary company in Azerbaijan is still operating at a loss. But, in 2014, VTB-Azerbaijan is expected to be profitable. VTB Group plans to increase the VTB-Azerbaijan’s capital to Rr 2 bln ($ 64.5 mln) from RR 627 mln ($20.2 mln), in accordance with requirement on increase of Azerbaijan-based banks’ capitals”, said Yakunin.
About VTB-Kazakhstan, Yakunin noted that VTB’s this branch operates dynamically and will operate in 2013 at a profit.
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