KIT Finance’s FY11 net profit amounted to Rub 101.7 mln, the lending institution’s press service said in a statement.
As of January 1, 2012 the lender’s assets equaled Rub 69.3 bln. After the registration of the bank’s additional share issue (Rub 2 bln) the bank’s charter capital totaled Rub 7 bln.
The corporate credit portfolio grew Rub 3.01 bln to Rub 31.7 bln.
The aggregate amount of retail liabilities amounted to Rub 5.31 bln, up Rub 264 mln y-o-y. Meanwhile, the highest increase was recorded in the VIP category, which goes in line with the bank’s approved strategy for retail operations.
KIT Finance Investment Bank is quite a large financial institution registered in Saint Petersburg. The bank was established in 1992. In 2008 the lender changed hands, ending up under the wing of Russian Railways (19.29%) and Russian Railways-affiliated private pension fund Blagosostoyanie (80.27%). After unsuccessful experience with securities in 2008—2009 the bank diversified activities, bumping up its credit portfolio. Corporate deposits account for nearly a half of the lending institution’s liabilities.
