Bank Severnaya Kazna’s net loss rises 187%

The net losses of Bank Severnaya Kazna (the asset of Alfa-Bank) increased by 2,944,317,000 RUR, or 187.13% last year: the bank’s losses amounted to 1,573,449,000 RUR in 2008 and to as much as 4,517,766,000 RUR in 2009.


For one, the losses rose by 121.584 million RUR, or 37.2% in the last quarter of 2009 compared with the third quarter’s figure of 205.267 million RUR.


Bank Severnaya Kazna explains the increase in losses has to do with the need to set up debt reserves.


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