VEB made a profit of 15 billion rubles with the help of the government

According to preliminary data by the international accounting standards for the year 2015, the group’s net profit of Vnesheconombank amounted to 14.9 billion rubles compared to a net loss for the 2014 year to 250 billion rubles.

According to the first Deputy Chairman of VEB Nicholas zemskogo, the greatest contribution to the financial result made help from the state. “According to international reporting standards recognized income from non-market accommodation liabilities. The national wealth Fund placed with us over $6 billion at the rate of 0.25%, in the financial statements is recognized as instant profit”, — said Tsekhomsky.

Net interest income before provisions decreased 33% to 67 billion rubles, compared with income in 2014 of 100 billion rubles Expenses on creation of reserves in 2015 amounted to 293 billion rubles less than in 2014, when provisions had to spend 314 billion rubles. Non-interest income of the group amounted to 333 billion roubles (taking account of government grant), a year ago — 43 billion rubles.

The capital adequacy ratio for 2015 amounted to 11.7% (2014-14.3%).