Yarsotsbank earns Rub 11.15 mln net audited profit in 2008

PRIME-TASS. Net audited profit generated by the largest lender in the Yaroslavl region, Yarsotsbank, amounted to Rub 11.15 mln in 2008 compared to Rub 157 mln a year earlier, while pre-tax profit amounted to Rub 31.61 mln vs. Rub 229.87 mln in 2007, the lending institution reported in its financial statement. The lender’s capital jumped 19% to Rub 628.2 mln, the value of assets maintained on the balance sheet slid 19.5% to Rub 5.2 bln, funds dropped 10% to Rub 903 mln and net debt was cut 80% to Rub 2.01 bln.

The lending institution was incorporated in 1990 by the Property Fund of the Yaroslavl region. Its charter capital equals Rub 200 mln and is divided in 10 mln common shares with Rub 20.00 par value each. The bank’s major shareholder is Promsvyazbank (51.3% of the securities).