Ukhtabank boosts FY08 net profit by 67%

PRIME-TASS. Net profit earned by Ukhtabank (the Komi Autonomous District) soared 67% on the year to Rub 364.63 mln in 2008, the bank’s press service reported.

The lending institution’s pre-tax profit rocketed 70% y-o-y to Rub 459.78 mln, net assets rose 5.2% from Rub 6.65 bln to Rub 7 bln.

Credit facilities granted to businesses from the real sectors of the national economy and entrepreneurs (including factoring) decreased by 11.3% from Rub 2.22 bln to Rub 1.97 bln in 2008. Household loans due jumped 4.7% from Rub 1.35 bln to Rub 1.41 bln.