- News
- Market Watch
- Bursa Malaysia
- My Portfolio
- Exchange Rates
- Unit Trusts
- Market Intelligence
- IPO Watch
- Company Ratings
- Bonus & Dividends
- Financial Results
- Share Buybacks
- Changes in Shareholdings
- Currency Converter
- Investor Relations
- Maritime
Tuesday August 4, 2009
Russia's VTB posts US$661mil loss in Q1
MOSCOW: Russia's second-largest bank on Tuesday posted a 20.5 billion ruble ($660.2 million) net loss for the first quarter of the year as it had to boost its provisions for bad debts.
VTB's net profits in the first quarter of 2008 stood at $121 million.
Provisions went up 4.8 percent compared to the fourth quarter of 2008 to 7.1 percent of the average gross loan portfolio.
Despite the net loss, bank's core income rose an annual 30 percent to 38.6 billion rubles ($1.2 billion) in the first quarter.
The bank said, however, that it does not expect to turn profit this year. - AP
- Oprah Winfrey's departure presents problem for TV stations
- DiGi unveils affordable package for BlackBerry phone users
- Hershey may bid US$17b for Cadbury, exceeding Warren Buffett's Kraft
- US and global stocks fall
- Astro’s high definition future
- F&N prepared for life without Coca-Cola
- P1 defends its cutting-edge ad
- Pressure on selling
- Keen for a trip to Iceland?
- Zeti: Economy picked up at faster pace in Q3
- Your 10 questions
- DiGi unveils affordable package for BlackBerry phone users
- Trade pacts boom
- Ancillary income boost for AirAsia
- TM swings to profit on forex gain
- Bumi Armada and partner win US$700mil contract in Vietnam
- Ambitious plans to propel Malaysia to the forefront of ICT
- RSPO still intact despite greenhouse gas contention
- Geared for progress
- Keen for a trip to Iceland?
RSS