MOSCOW, June 9 - RIA Novosti. Bank
of Moscow, VTB Group in 2011 was 24.6 billion rubles of net profit
under international standards finotchetnosti (IAS) versus a net loss of
69.7 billion rubles a year earlier, shows the annual accounts of the
group.
"Net profit of Bank of Moscow, on the basis of 2011 amounted to 24.6 billion rubles. Revised results in 2010 amounted to 69.7 billion rubles at the expense of a loss reserve for losses on loans and advances to customers of $ 105.5 billion. Return on capital in 2011 amounted to 24.7%, earnings per share - 136.2 rubles ", - the bank said.
Earlier it was reported that a net loss of Bank of Moscow under IFRS in 2010 amounted to 68.2 billion rubles.
The Bank of Moscow, the Russian fifth by assets, is in the process of financial recovery.
Change of shareholder capital of the bank in 2011 led to a series of tests, which revealed a significant portfolio of assets associated with the financing of projects for the former head of Bank of Moscow Andrey Borodin and several others.
To save the Bank of Moscow, the support of the credit organization of city government since Yuri Luzhkov, has been allocated 295 billion rubles from the Central Bank for 10 years at 0.51% per annum, which he invested in federal bonds at 8.16% per annum. This enabled the bank to generate a sufficient amount of reserves in accordance with international standards.
VTB's Guide predicted that in 2011 the Bank of Moscow can earn about 15 billion rubles.
Revenues, reserves, loans
Net interest income of a credit institution, amounting last year to 23.8 billion rubles, after provision for impairment losses turned in 96.9 billion.
In 2011, the Bank sent to the reserves of 120.7 billion rubles under the portfolio of problem loans, he inherited after the departure of the previous top management. The reflection came to 152 billion rubles from the recognition of loan DIA allowed him to cover the losses associated with high levels of redundancy.
In addition, the Bank recognized impairment losses on securities available for sale at $ 10.6 billion.
Bank of Moscow in the last year managed to substantially increase non-interest income - up to 52.4 billion rubles, compared to a loss a year earlier.
Bank's loan portfolio after provision increased by 6% - up to 533.7 billion rubles. Accumulated reserves at end 2011 amounted to 255.3 billion rubles.
Funds of natural persons in the bank fell last year by 10% - to about 163 billion rubles.
"Net profit of Bank of Moscow, on the basis of 2011 amounted to 24.6 billion rubles. Revised results in 2010 amounted to 69.7 billion rubles at the expense of a loss reserve for losses on loans and advances to customers of $ 105.5 billion. Return on capital in 2011 amounted to 24.7%, earnings per share - 136.2 rubles ", - the bank said.
Earlier it was reported that a net loss of Bank of Moscow under IFRS in 2010 amounted to 68.2 billion rubles.
The Bank of Moscow, the Russian fifth by assets, is in the process of financial recovery.
Change of shareholder capital of the bank in 2011 led to a series of tests, which revealed a significant portfolio of assets associated with the financing of projects for the former head of Bank of Moscow Andrey Borodin and several others.
To save the Bank of Moscow, the support of the credit organization of city government since Yuri Luzhkov, has been allocated 295 billion rubles from the Central Bank for 10 years at 0.51% per annum, which he invested in federal bonds at 8.16% per annum. This enabled the bank to generate a sufficient amount of reserves in accordance with international standards.
VTB's Guide predicted that in 2011 the Bank of Moscow can earn about 15 billion rubles.
Revenues, reserves, loans
Net interest income of a credit institution, amounting last year to 23.8 billion rubles, after provision for impairment losses turned in 96.9 billion.
In 2011, the Bank sent to the reserves of 120.7 billion rubles under the portfolio of problem loans, he inherited after the departure of the previous top management. The reflection came to 152 billion rubles from the recognition of loan DIA allowed him to cover the losses associated with high levels of redundancy.
In addition, the Bank recognized impairment losses on securities available for sale at $ 10.6 billion.
Bank of Moscow in the last year managed to substantially increase non-interest income - up to 52.4 billion rubles, compared to a loss a year earlier.
Bank's loan portfolio after provision increased by 6% - up to 533.7 billion rubles. Accumulated reserves at end 2011 amounted to 255.3 billion rubles.
Funds of natural persons in the bank fell last year by 10% - to about 163 billion rubles.
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