Russia's VTB Q3 net profit falls 98% year-on-year

Russia's second-largest bank VTB said on Thursday its third-quarter net profit fell 98 percent year-on-year to 0.4 billion roubles ($8.57 million), compared with 18.4 billion roubles in the same period a year earlier.
The figure was below analysts' expectations for net profit of 3 billion roubles.
Read MorePutin says United States wants to subdue Russia

iStock | 360 | Getty Images

VTB was sanctioned by the United States and European Union over Russia's role in the Ukraine crisis and is a key lender to Russia's economy.