Radiotechbank reports 35% dive in Q1 net profit

In the January-March quarter of 2009 net profit generated by Nizhny Novgorod-based Radiotechbank sank 35.3% on the year to Rub 6.60 mln, the lending institution said in a statement. Meanwhile, the bank’s 4Q08 net profit came to Rub 355,000.00. Radiotechbank’s Q109 net profit jumped q-o-q on the heels of a rise in earnings from securities transactions. The lending institution’s charter capital is equal to Rub 214.06 mln.

According to the data from Banki.ru and news agency Interfax-CEA, as of January 1, 2009 net assets of Radiotechbank totaled Rub 1.4 bln (547th place in Russia). The lending institution is a member of the national deposit insurance system.