IFRS net profit slides 4.5x at Yarsotsbank in 2008

PRIME-TASS. Yarsotsbank’s FY08 IFRS audited net profit sank 4.5-fold y-o-y to Rub 48.95 mln and pre-tax profit dove 5 times to Rub 60.71 mln, the lending institution reported in its financial statement.

Net interest income surged 33.1% to Rub 342 mln and net interest income after funds are put aside to the reserve fund decreased 23.7% to Rub 221.4 mln. The lending institution’s equity capital jumped 14.9% to Rub 665.1 mln in 2008. Funds leapt 41.4% to Rub 2.17 bln. Clients’ cash decreased 33% to Rub 4.50 bln. A cumulative shortage soared 90% to Rub 103.59 mln. Receivables and payables were cut in half to Rub 1.76 bln.