Russian Lender VTB Warns of Hit From Ukraine Crisis - WSJ:
"Russian state-controlled lender VTB VTBR.MZ -1.15% Group could report a $1.4 billion loss for 2014 because of the crisis in Ukraine, the bank's chief executive said Monday.
Andrey Kostin, speaking in the Kremlin to Russian President Vladimir Putin, said the bank has already lost 26 billion rubles ($672 million) because of the crisis in Ukraine, and that figure could double for the full year.
The estimate for Russia's second-largest lender after another state-controlled bank Sberbank SBER.MZ -1.81% compares to VTB's record net profit of 101.5 billion rubles posted for 2013, results that the bank's top managers have already said would be unachievable this year."
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