PRIME-TASS. In January-March 2009 the cost of the assets held by Novosibirsk-based Bank Alemar fell 12.1% or Rub 1.94 bln and reached Rub 14.14 bln as of April 1, 2009, the bank said in a press release. This happened following a 85.8% decline in balances held on the bank’s correspondent accounts with lending institutions by Rub 1.12 bln, a slide of 81.2% (Rub 1.08 bln) in balances held on CBR correspondent accounts, a 6.3% drop (Rub 519.06 mln) in credits issued and a 54.4% contraction (Rub 193.52 mln) in investments in discounted bills.
“Primary reasons for a reduction in the bank’s active operations are a 24% decline (Rub 2.43 bln) in clients’ funds (mainly the termination of short-term deposits by legal entities) and the scheduled repayment of own promissory notes for Rub 939.24 mln (85.8%)," the bank emphasized in the press release.
