In the first three quarters of 2021, VEB.RF received a net profit of 14.7 billion rubles – against a loss of 29.7 billion rubles. for the same period last year. This financial result, according to Andrey Moskovskikh, Chief Financial Officer of VEB.RF, is due to an increase in net interest and commission income.
The group’s capital for the nine months of 2021 grew by 7.3% – up to 739.4 billion rubles. by the end of September, which is explained by the receipt of profit, the growth of income from investment financial assets and the receipt of a subsidy from the federal budget for the capitalization of the subsidiary.
Since the beginning of the year, the assets of the VEB.RF group have increased by 14.5% – to almost 3.9 trillion rubles. by September 30, 2021. The main factor behind the growth in the volume of assets was a significant increase in the loan portfolio. Thus, the volume of loans issued by VEB.RF in January-September increased by a record 554.8 billion rubles. “The volume of liquidity and capital adequacy at the level of 15.9% allow VEB.RF, with the support of the government, to increase funding for infrastructure, industry, exports, development of regions and cities,” noted Andrey Moskovskikh.
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