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Gazprombank’s net loss exceeds 960m


8.04.2010
The net loss of Gazprombank (one of Russia’s Top 5 banks) amounted to 966.9 million RUR in the first quarter of 2010 (in accordance with the Russian Accounting Standards). According to the bank’s report, its net profit reached 16.7 billion RUR in the first quarter of 2009 and 8.55 billion RUR in the last quarter of the year (in accordance with the Russian Accounting Standards), RIA Novosti says.

The bank’s net profit declined by 2.3 times down to 9 billion RUR at the end of 2009. Gazprombank reports the profits dropped because the bank had to pay significantly more in terms of profit tax in 2009 and because the company had smaller ROI as far as their daughter enterprises and foreign currency transactions were concerned.

At the same time, the bank’s capital went up to 240 billion RUR in 2009.
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