Net profit generated by Novosibirsk Municipal Bank, drafted to the International Financial Reporting Standards (IFRS), reached Rub 56 mln in 2008. The lending institution’s press service reported. The lending institution’s ROA came in at 1.2% and ROE equaled 16%.
The lender’s assets jumped by Rub 600 mln or 10% to Rub 5.1 bln. The credit portfolio spiked 30% (Rub 900 mln), reaching Rub 3.8 bln at the end of the reporting period. Funds raised from clients rose 10% or Rub 300 mln to Rub 4.1 bln. The lending institution’s equity capital increased 10% (Rub 38 mln) to Rub 371 mln.
According to the data from news agency Banki.ru and Interfax-CEA, as of January 1, 2009 net assets held by Novosibirsk Municipal Bank were equal to Rub 5.1 bln (277th place in Russia). The lending institution is a member of the national deposit insurance system.
