10 Nov 2009 15:54

Nomos-Bank increases net profit by 16.5% in H1

MOSCOW. Nov 10 (Interfax) - Nomos-Bank's IFRS net profit in the first half of 2009 increased by 16.5% year-on-year to 3.3 billion rubles, the bank said in a statement.

Net interest revenue prior to reserve formation in January-June 2009 went up by 72.3% to 9.66 billion rubles while operational revenue increased by 24% to 8.27 billion rubles. The bank's cost/income ratio dropped from 36.87% to 22.39%.

The bank's total expenditures for reserve formation in the first half of 2009 went up 849% year-on-year to 5.66 billion rubles.

The bank's equity as of July 1, 2009 stood at 35.77 billion rubles, up 10% from a year previous.

The bank's assets in the first half of 2009 dropped by 8.8% to 253.37 billion rubles.

Total funds raised from clients in the first half increased by 5% to reach 121. 8 billion rubles on July 1.

Nomos-Bank's IFRS net profit in 2008 came to 3.49 billion while the bank's assets stood at 277.8 billion rubles at the end of that year.

Nomos-Bank was 15th largest Russian bank at the end of the third quarter by assets according to the Interfax-100, compiled by the Interfax Center for Economic Analysis (CEA).