PRIME-TASS. Balance sheet profit generated by Lipetskcombank, part of banking group Zenit, amounted to Rub 23.9 mln in January-March 2009 compared to Rub 80 mln in the year-earlier period, the bank said in its financial statement. “Balance sheet profit declined mainly due to the formation of reserves for possible loan losses. As a result of a well-thought-out conservative policy pursued by the bank to assess credit risks, as of April 1, 2009 reserves accumulated exceed NPLs by more than 100%," the bank’s press service pointed out.
As of April 1, 2009 the lender’s equity capital totaled Rub 1.47 bln, current assets reached Rub 12.77 bln and credit portfolio came to Rub 10.50 bln.
As of April 1, 2009 loans granted to legal entities and households reached Rub 9.87 bln, including Rub 8.69 bln borrowed by corporate clients and Rub 1.18 bln lent to households. Securities investments totaled Rub 884 mln.
Cash held on settlement and current client accounts jumped 9.5% to Rub 3.44 bln, household funds reached Rub 5.33 bln, including Rub 4.21 bln in household deposits.
