VUZ-Bank loses 19.72 million RUR

VUZ-Bank’s net losses amounted to 19.722 million RUR in the second quarter of 2009. At the same time, the bank rounded up the first quarter of the year with 55.393 million RUR worth of losses.

VUZ-Bank (Life Group’s asset) explains the smaller losses in the second quarter have been caused by increased net interest yields and tax refunds.