Bank Nizhny Novgorod says no to dividends

KOMMERSANT. Bank Nizhny Novgorod shareholders decided at an annual general meeting not to pay out dividends for 2008, the business daily wrote Tuesday. In line with the approved financial statement, the lending institution’s net profit sank 5.5x y-o-y to Rub 12.51 mln and assets surged 26.46% to Rub 5.39 bln.