PRIME-TASS. Devon-Credit, based in Almetievsk (Republic of Tatarstan) managed to boost its net profit by 25.57% y-
2008 net profit increased on a spike in income from commission fees and also a rise in interest income, as the bank’s loans due and relevant obligations increased.
4Q08 net profit amounted to Rub 144.65 mln. Meanwhile, net profit slid a painful 48.12% compared to the third quarter of 2008 to Rub 134.16 mln. Net profit dropped following an increase in interest-bearing expenses and administrative charges.
Devon-Credit has 14 branches located in the Republic of Tatarstan and outside the republic and the bank was incorporated in 1992 by oil producer Tatneft. Its charter capital equals Rub 900 mln. At present, 97.326% of the lending institution’s securities are owned by Bank Zenit (Moscow).
