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VTB, Russia's second largest bank, increased its net profit to Russian
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%.


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