RIA NOVOSTI. In the January — March quarter of 2012 the Bank of Moscow increased its net profit compiled under the Russian Accounting Standards (RAS) by 90% to Rub 1.15 bln against the same period a year ago, Bank of Moscow CEO Mikhail Kuzovlev told journalists on the sidelines of a congress held by the Association of Russian Banks, RIA Novosti reported. In January-March 2011 the lender earned Rub 604.3 mln net profit under RAS.
In 2011 the Bank of Moscow reported RAS net profit of Rub 5.7 bln vs. a Rub 50.12 bln loss a year earlier.
As Bank of Moscow CEO Mikhail Kuzovlev previously said, in 2012 the bank plans to generate balance sheet profit of Rub 6.8 bln under RAS. In 2013 the indicator would amount to Rub 7.2 bln and Rub 7.5 bln in 2014.
