Rus News Journal

Bank the Renaissance has delayed profit

the Context

Bank the Renaissance has published results of activity following the results of the first quarter 2009 on MSFO. The bank has directed almost all earned profit to reserves under problem loans - 1,6 mlrd rbl. As a result reserves have increased to 6,4 mlrd rbl., and the pure quarter profit of bank has made only 386 million rbl. Necessity of formation of such reserves is connected with the increased delay - the share of problem credits following the results of the first quarter has made 5,9 %. For a quarter delay has grown very sharply - from 3,4 % to 5,9 %, and deductions in reserves have grown for a quarter on 30 % - the analyst " marks; VTB - the Capital Dmitry Dmitrys. Growth of deductions in reserves is promoted by a technique of the account of problem loans which uses bank, - all sum of the credits delayed at least for one day concerns them. In the second quarter the bank does not exclude that it is necessary to direct all got profit (it is planned that it will be up to standard 2 mlrd rbl.) to reserves.

JULIA - LOKSHINA