Russia’s VEB swings to 11.8 bln rbl net loss January–March

MOSCOW, Jun 20 (PRIME) -- Russian state development bank Vnesheconombank (VEB) swung to 11.8 billion ruble net loss in January–March from 2 billion ruble net profit in the same period a year ago, the bank said in a statement Friday.

The figures were calculated under International Financial Reporting Standards.

The net loss from foreign currency operations stood at 5.9 billion rubles.

(34.3025 rubles – U.S. $1)

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