Spurt Bank posts 22.8% slide in 11M08 net profit

PRIME-TASS. Spurt Bank reported a 22.8% y-o-y slide in net profit to Rub 125 mln in January-November 2008, while pre-tax profit dove 22.6% to Rub 161 mln. Net profit declined because of lower turnover on the inter-bank lending and securities markets, the lending institution’s representatives said Friday.

Assets grew from Rub 9.39 bln as of January 1 to Rub 10.84 bln as of December 1, capital climbed from Rub 1.33 bln to Rub 1.83 bln, credits rose from Rub 5.20 bln to Rub 7.97 bln, funds attracted surged from Rub 7.84 bln to Rub 9.30 bln, whereas private deposits dropped from Rub 1.53 bln to Rub 1.40 bln.