Energomashbank boosts 2008 profit 2.6-fold

Based on 2008 performance, Energomashbank bumped up net assets to Rub 4.7 bln or 42% more than in 2007, the lending institution’s press service reported. 2008 pre-tax profit soared 2.6 times to Rub 131.8 mln compared to 2007. As of the reporting date the bank’s equity capital came to Rub 504.4 mln, rocketing 71% y-o-y, while loans due jumped 30% to Rub 3 bln. Funds held by the bank’s clients amounted to Rub 3.6 bln or up an impressive 37% on the year. Financial resources of private clients increased 26% in the reporting period to Rub 1.4 bln.

According to the data from Banki.ru and news agency Interfax-CEA, as of July 1, 2008 net assets of Energomashbank stood at Rub 4.07 bln (324th place in Russia). The lending institution is a member of the national deposit insurance system.