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VTB publishes its unconsolidated RAS financial statements for April 2009

 
6 May 2009

As of 1 May 2009, VTB Bank's assets were RUB 2,636 billion as compared to RUB 2,721 billion posted on 1 April 2009. Against the year-start, the assets have increased 3%.

VTB Bank corporate portfolio amounted to RUB 1,588 billion, which is an 8% increase for the first four months of the current year. Corporate customers' accounts and deposits reached RUB 864 billion, having increased 20% since the year-start.

The Bank's net loss for the first four months of 2009 was RUB 25.9 billion as compared to the net profit of RUB 1.99 billion posted over the first quarter of 2009. The decreased net profit in April was primarily caused by closing forward exchange contracts and by negative revaluation of its currency positions.

Another factor affecting the Bank's performance in April was allocation to loan impairment provisions, which by 1 May accounted for 3.2% of the Corporate Loan Portfolio.

The unconsolidated financial statements have been prepared under Russian Accounting Standards only for the Parent Bank, JSC VTB Bank.


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