Alfa-Bank’s basic stock goes down 28.5% in 2008

About 20% of Russia’s largest banks experienced a decrease in their capital stock in 2008, Kommersant referred to the National Rating Agency as reporting.

The agency says Bank VTB, Alfa-Bank, and Perviy Cheshsko-Rossiyskiy Bank have gone through the greatest drops, that is, by 28%, 28.5%, and 21.1%, respectively. For some of the banks, the trouble has to do with losses. Severo-Vostochniy Alliance Joint-Stock Commercial Bank, for instance, lost 2.041 billion RUR in the course of securities portfolio reassessment, so its basic stock went down by 36.8% last year. The same is true of Rossiyskiy Credit Bank, whose 2.65 billion RUR worth of losses made its basic capital drop by 24.5%.


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