Petrokommerz loses 231.15m

Bank Petrokommerz lost 231.15 million RUR in the third quarter of 2009, whereas only a quarter earlier, it made 259 million RUR worth of profits.

The bank says the losses were brought about by the need to build up n the bad debt reserves and the dropping loan interest income (which, in its turn, had to do with the shrinking lending portfolio).

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