MICEX Group boosts net profit 17% to 4.2 bln rubles in 2008
MOSCOW. July 17 (Interfax) - The MICEX Group, which operates the Moscow Interbank Currency Exchange, posted a net profit of 4.241 billion rubles in 2008 under International Financial Reporting Standards (IFRS), an increase of 16.6% over 2007.
MICEX published consolidated financials for the group on its web site.
Revenue from commissions rose 2.3% to 6.530 billion rubles and interest income was up 59.1% to 2.507 billion rubles.
Administrative and other expenses increased 29.9% to 3.386 billion rubles.
Capital amounted to 17.679 billion rubles as of December 31, 2008, 29.9% more than the total of 13.614 billion rubles a year earlier.
Assets rose 270% to 366.867 billion rubles at year-end from 98.453 billion rubles. The growth came mainly from cash accounts to trade participants, which amounted to 347.431 billion rubles at year-end, up from 83.089 billion rubles at the end of 2007.
The MICEX Group includes MICEX and subsidiaries: MICEX Stock Exchnage, MICEX Settlement House, National Depository Center, National Clearing Center and regional exchange centers.