PRESS: CEO sees Vnesheconombank 2017 RAS net loss at 100 bln rbl

MOSCOW, Dec 27 (PRIME) -- Vnesheconombank expects a 100 billion ruble net loss under Russian Accounting Standards (RAS) in 2017, CEO Sergei Gorkov told business daily Vedomosti in an interview released on Wednesday.

“It will be somewhat close to this amount,” Gorkov said. “We need to complete the calculation. Foreign exchange rates strongly influence our portfolio, this is why it is always a question of the state of market at the end of the year. We will have a significantly better result than we used to plan but still there will be a loss.”

VEB had a net profit under RAS earlier in 2017 but reserves required for a deal with Ukraine’s Prominvestbank can remove the entire net profit, he added.

Gorkov also said that VEB plans to receive a net profit in 2018.

(57.7343 rubles – U.S. $1)

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