PRIME-TASS. Net profit generated by Kemerovo Social Innovative Bank (Kemsotsinbank) jumped 15.2% y-o-y to Rub 19.48 mln in 2008, the lending institution said in a press release. As for other indicators, balance sheet profit amounted to Rub 32.54 mln or 168% (Rub 20.40 mln) higher than in 2007. As of January 1, 2009 equity capital totaled Rub 110.50 mln (Rub 88.72 mln as of January 1, 2008), assets climbed 19.3% to Rub 512.82 mln, net debt soared 72.9% to Rub 365.24 mln, fixed assets, intangibles and tangibles grew 20.1% to Rub 48.97 mln and cash plunged 2.2-fold to Rub 9.14 mln.
Funds of lending institutions held at the bank totaled Rub 80 mln (a 4.2-fold upsurge y-o-y), money of clients (non-lending institutions) rose 4.8% to Rub 321.01 mln and private deposits rocketed 86.4% to Rub 176.03 mln. As of January 1, 2009 the lender’s obligations climbed 18.9% y-o-y to Rub 404.09 mln.
Interest income (Rub 63.39 mln) accounts for 21.8% of the revenue mix. Interest income surged 70% y-o-y in 2008, while commission interest more than tripled to Rub 84.84 mln in 2008, interest payable shot up 2.7 times compared to 2007 to Rub 25.18 mln (9.7% of total expenses) and operating expenses grew by Rub 52.95 mln. Commission expenses dropped by Rub 353,000 year on year to Rub 338,000 in 2008.
The lending institution’s charter capital equals Rub 47.18 mln and its major shareholder is Alexander Efremov (91.1%).
