Ukhtabank more than doubles net profit in 2008

PRIME-TASS. Ukhtabank managed to boost its net profit 2.1-fold y-o-y to Rub 364.63 mln in 2008 (net profit totaled Rub 169.84 mln in 2007).

The lending institution’s net profit increased on a spike in interest income from lending operations, FX and cash settlement services, the bank said in a statement.

Ukhtabank’s 4Q08 net profit totaled Rub 99.10 mln (Rub 150.18 mln in 3Q08).