VTB's Profits, Bad Debt Charges Rise | Business | The Moscow Times:
"VTB on Thursday reported a 16 percent rise in second quarter net income and set aside more than expected to cover bad debts.
But the bank said it expected the pace of growth in these provisions to slow in the second half of the year.
Russian banks have piled into high-margin consumer lending as demand for credit slowed at companies, however, a slowing economy has raised fears that consumers would struggle to repay their debts.
VTB said net profit for the second quarter was 11.9 billion rubles ($362 million), compared with 10.3 billion in the same period of 2012. Analysts had predicted net profit of 16 billion rubles."
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