NRB post Q3 loss of 1.3 bln rubles due to securities revaluation
MOSCOW. Oct 13 (Interfax) - The National Reserve Bank (NRB) had a loss of 1.271 billion rubles in Q3 2011 due to a negative revaluation of its OJSC Aeroflot - Russian Airlines and Gazprom shares, the NRB said.
NRB's loss in the nine months was 625 million rubles, while its H1 2011 net profit was 646 million rubles.
In the third quarter, the impact of market volatility was reflected in the bank's financial results - the total negative revaluation of NRB's Aeroflot and Gazprom shares exceeded 1.9 billion rubles, the bank said.
Excluding securities transactions, NRB's net profit for the nine months was 1.2 billion rubles.
NRB's largest shareholder is Alexander Lebedev, who owns a 59.8% stake. In addition, Lebedev and his son directly own 18.4% of the bank's shares.
NRB's largest shareholders also include former chairman and member of the board of directors of NRB Yury Kudimov (18.38%) and the Federal Agency for State Property Management (2.74%).
NRB was Russia's 77th largest bank by assets, according to the Interfax-100 ranking at the end of H1 2011.