Russian Standard Bank posts IFRS net loss in 2009.

By bne IntelliNews April 29, 2010
As announced by the bank, Russian Standard Bank posted net loss of RUB 4.53bn in 2009 vs. net profit of RUB 7.42bn in 2008. As of Jan 1 2010 , bank's assets dropped by 38% y/y to RUB 140bn, shareholders equity decreased by 23% y/y to RUB 30bn and client account balances increased by 35% y/y to RUB 27bn. Bank's reserves for losses on loans increased to RUB 12.5bn as of end of 2009 as compared to RUB 9.76bn a year earlier. Russian Standard Bank was established in 1999. Now it is one of the largest domestic private consumer lending banks.

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