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Russia's VTB posts record loss of $849 mln in April

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MOSCOW, May 6 (RIA Novosti) - Russia's second-largest bank VTB announced on Wednesday a record net loss of 27.86 billion rubles ($849 million) in April on the back of a negative revaluation of foreign currency assets.

The bank's net loss of 25.87 billion rubles ($788.5 million) in January-April blurred its 2008 net profit calculated to International Financial Reporting Standards, which dropped 86% year-on-year in 2008 to $212 million.

The bank's assets amounted to 2.64 trillion rubles ($80.5 billion) as of May 1, 2009.

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