Absolut Bank finishes year off with 5m loss

The loss sustained by ZAO AKB Absolut Bank in the year 2010 amounted (in accordance with the IAS) to ?5m, which was 22.4 times less than a year earlier, KBC Group report for the fourth quarter of 2010 says, Prime TASS reports.

The bank’s NPL came to 16.8% in the last quarter of 2010 against 18.3% in the third quarter. At the beginning of the year, the NPL came to 14%.

KBC Group is currently Absolut Bank’s principal shareholder with a 95% holding in the business. 5% of shares belongs to IFC. It was earlier announced that KBC Group intended to leave the bank’s capital.