Russia’s VTB Bank: Returned to profit in July, expects loss for the year

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VLADIVOSTOK, Russia (Reuters) – The head of Russia’s No. 2 lender VTB said on Tuesday the bank returned to profit in July after record-making losses in the first six months of the year.

Speaking at Russia’s Eastern Economic Forum in Vladivostok, VTB CEO Andrei Kostin said the bank still expects to post a loss for the full year.