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VTB lends Russian Copper Company RUB 40 billion, EUR 82.7 million AK&M 156 AK&M 06 May 2021 23:07 VTB Bank has provided Russian Copper Company (RMK Group) with a loan of RUB 40 billion and EUR 82.7 million for 5 years, the bank informed. The loan proceeds will be used to finance the expenses of JSC Mikheevskiy GOK (processing plant) for the acquisition of a 100% equity stake in Invest Razvitie LLC and for refinancing the existing loan debt of JSC Mikheevskiy GOK and Invest Razvitie LLC to other banks. As a result of the transaction, VTB Bank has become the sole creditor of JSC Mikheevskiy GOK. The Mikheevskiy processing plant was built in Varnensky district of Chelyabinsk region in 2014 to develop the same-name copper deposit. As of December 31, 2020, the reserves of the Mikheevskoye deposit were estimated at 629 million tonnes of ore
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United Capital records N3.12bn revenue in Q1
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United Capital Plc has announced a 63 percent growth in gross earnings to N3.12 billion in the first quarter (Q1) ended March 31, 2021, compared to N1.92 billion in Q1 2020.
The unaudited financial statement of the company for the period showed that it grew its Profit Before Tax (PBT) to N1.97 billion in Q1 2021, compared to N1.18 billion in the same period in 2020, indicating a 68 percent year-on-year (Y/Y) growth.
The company’s earnings per share also rose to 111 kobo from 66 kobo in Q1’20.
Commenting on the results, Mr. Peter Ashade, Group CEO, United Capital, said: “I am pleased to inform all our stakeholders that United Capital Plc has commenced the first quarter of the year from a stable position with remarkable earnings growth and strong performance across key financial parameters even as we continued to navigate the tough terrain which at the moment, points to a recovery in th
Views: Visits 6 United Capital Plc has announced a 63 percent growth in gross earnings to N3.12 billion in the first quarter (Q1) ended March 31, 2021, compared to N1.92 billion in Q1 2020. The unaudited financial statement of the company for the period showed that it grew its Profit Before Tax (PBT) to N1.97 billion in Q1 2021, compared to N1.18 billion in the same period in 2020, indicating a 68 percent year-on-year (Y/Y) growth. The company’s earnings per share also rose to 111 kobo from 66 kobo in Q1’20. READ ALSOPolice arrest man with human head, hand in Kwara Commenting on the results, Mr. Peter Ashade, Group CEO, United Capital, said: “I am pleased to inform all our stakeholders that United Capital Plc has commenced the first quarter of the year from a stable position with remarkable earnings growth and strong performance across key financial parameters even as we continued to navigate the tough terrain which at the moment, points to a recovery in t
VTB Group increased 3-month net profit by 113.8% AK&M 145 AK&M 04 May 2021 23:50 Net profit of VTB Group for the first quarter of 2021 increased by 113.8% compared year-on-year to RUB 85.1 billion, the group informed. The group s net interest income for 1Q21 increased by 21.6% to RUB 145.6 billion from RUB 119.7 earned in January-March 2020. 3-month net fee & commission income increased by 19.1% to RUB 38.6 billion from RUB 32.4 billion for the same period in 2020. The group s assets increased by 2.5% to RUB 18.6 trillion from RUB 18.1 trillion. VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all the key segments of the financial market. In the CIS, the group is active in Armenia, Ukraine, Belarus, Kazakhstan, Azerbaijan. VTB s banks in Austria, Germany and France are