28 Apr 2010 17:10

United MDM Bank posts 358 mln rubles in IFRS net profit for 2009

MOSCOW. April 28 (Interfax) - United MDM Bank posted 358 million rubles in IFRS net profit for 2009, the bank said in its financial results.

This is the first annual report following the merger of MDM-bank and URSA Bank . Prior to this the united bank published its IFRS results for January-September 2009 and the first half of the year.

MDM-Bank's IFRS net profit came to 3.304 billion rubles on 2008 while URSA Bank's net profit have 1.6 billion rubles in net profit.

The report said that net profit for 2008 came to 2.176 billion rubles. Therefore, the bank's net profit shrank by 83% in 2009.