Provisions totaled 5.1% of VTB loan book at end Q1
MOSCOW. Aug 4 (Interfax) - Loan impairment provisions stood at 5.1% of the VTB bank's loan book at the end of the first quarter of 2009, Nikolai Tsekhomsky, the bank's chief financial officer., told a press conference.
"The provisions are currently 5.1%. We're talking about all provisions on the bank's balance sheet in relation to the portfolio," Tsekhomsky said, adding that the provisions stood at 3.6% at the end of 2008.
Tsekhomsky also said past-due loans constituted 3.5% of the portfolio as of the end of Q1, not including rescheduled loans.
VTB said in an earnings report that past due loans and rescheduled loans combined grew to 4.3% of the portfolio during Q1 2009, from 2.4% at the end of Q4 2008.