VTB accrued additional provisions due to a large credit loss

VTB reported a large additional provision charge due to credit losses, which affected the bank's net profit in August. In total, the bank earned ₽25.9 billion in profit for the month, while additional provisions amounted to ₽31.6 billion. Of these, only ₽7 billion were regular provisions created for the growth of the retail loan portfolio. The reason for the additional charge was the problems of a corporate borrower from a friendly country with the repayment of a loan in an unfriendly currency, which the bank allowed to repay at a discount.