Chuvashcreditprombank boosts 9M08 net profit by 23%

PRIME-TASS. Net profit earned by Chuvashcreditprombank (Cheboksary), an authorized mortgage lender of the Chuvashi government, amounted to Rub 21.64 mln in January-September 2008 compared to Rub 17.59 mln in the year-earlier period, the lender said in its quarterly financial statement.

Pre-tax profit totaled Rub 33.49 mln (Rub 26.42 mln in January-September 2007), tax accruals (including the corporate profit tax) equaled Rub 11.84 mln (Rub 8.82 mln in the same period a year ago). Funds attracted came to Rub 2.70 bln (Rub 2.35 bln) and equity capital totaled Rub 332.98 mln (Rub 303.76 mln). The lender’s FY07 net profit jumped 21.2% y-o-y to Rub 28.80 mln.

Chuvashcreditprombank was registered on December 24, 1990 and is licensed to deal with rubles and currencies (with no restrictions for foreign correspondent banks). The bank entered the national deposit insurance program on December 23, 2004. As of July 1, 2008 the bank’s charter capital stood at Rub 234 mln.