29 Jul 2011 12:19

Bank of Moscow should provision 220 bln rubles for Borodin co credits - Moos

MOSCOW. July 29 (Interfax) - Bank of Moscow has to provision 220 billion rubles for business credits issued by its former management, of which 80 billion rubles had already been set aside by end-2010, member of the bank's board of directors and deputy chief at VTB Herbert Moos told reporters.

"Our plan is that Bank of Moscow should create around 220 billion in reserves in all, mainly for credits associated with former management," Moos said. These credits total 330 billion rubles, he said.