Bank of Moscow justified the fall of their income machinations of the media

Bank of Moscow explained drop in income, "conducted by the media negative PR-campaigns." This information appears in its quarterly report, published on the site. But the next day gone away. About this newspaper Vedomosti on Monday, May 30. Among the causes of the decline in business volumes and profit drop Bank of Moscow three times called the "negative media campaign against the Bank in a report for the I quarter, on Thursday posted on the website of the bank. Net income for the I quarter of 2011 amounted to 2 billion rubles. against 4.1 billion for the same period last year. This decrease is due to "relative stabilization of the economy, resulting in decreased income from operations and revaluation of securities, payment of annual bonuses to staff members as well as" slowdown and business growth due to ongoing media negative PR-campaigns related to the change in the shareholders of the bank that, in turn, led to a fall in net interest income, "explained the report. Revenues from credit operations for the I quarter decreased 6% to 14 billion rubles. That "due to increased competition and a corresponding reduction in tariffs as well as negative media campaign against the bank," the report said. Also the fault of the media was a shortfall fee and commission income. Income from operations for receiving utility payments, transfers, currency exchange, cash management services decreased by 17% (up to 1.9 billion rubles).. "The decrease in commission income due to lower volume of transactions due to the negative media campaign against the bank" - the report said. Bank representative could not explain how to measure the contribution of mass media in reducing bank profits. "From the media had an overall negative impact" - but he noted. But after a few hours on the site was put up a new version of the report, which mentions the negative impact of the media anymore. Quarterly reports banks sent to the Central Bank and the Federal Financial Markets Service, said the chief accountant of Nordea Bank Tatiana Sharova. The Bank of Moscow could not answer why the bank hung a new version of the report and whether it is registered with the regulator. Balance of the Bank of Moscow began to narrow in the autumn, when the mayor left the city, Yuri Luzhkov. By the end of I quarter 2011 the bank lost 40 billion rubles. assets (5%), 33 billion rubles. deposits of legal entities (17%), 18 billion rubles. deposits of natural persons (12%).