INTERFAX. National Bank Trust’s assets dropped 13.6% from Rub 128.66 bln to Rub 111.17 bln in September 2008, the lending institution said in a press release. The bank attributes this to a decline in operations under inter-branch settlements.
As reported earlier, National Bank Trust and Investment Bank Trust, which are presently under merger, suffered Q308 losses on the securities market, including under repurchase transactions, for a total of Rub 25.2 mln.
According to banking holding Trust’s September 24 data, National Bank Trust lost $5 mln and Investment Bank Trust lost $9.4 mln in September. Q308 losses are equal to around 3% of the merged bank’s proforma capital.
The merged bank’s H108 IFRS net profit amounted to Rub 433 mln (proforma) against Rub 109 mln in the same period a year ago. Aggregate assets rose 4% to Rub 103 bln and the credit portfolio surged 34% to Rub 47.3 bln.
US investment bank Merrill Lynch acquired around 10% of banking holding Trust, which owns controlling stakes in Investment Bank Trust and National Bank Trust, in the fall of 2007. Ilya Yurov is the biggest beneficial owner of both banks.
