Vokbank boosts 9M08 net profit 51.5%

PRIME-TASS. Volgo-Oksky Bank (Vokbank), with its head office in Nizhny Novgorod, managed to ramp up its 9M08 net profit by 51.5% y-o-y to Rub 26.99 mln, the bank said in its financial statement. Balance sheet profit soared 53.5% to Rub 36.72 mln.

The lender’s equity has climbed 12.5% YTD to Rub 260.76 mln as of October 1, assets grew 26.9% to Rub 1.85 bln and net loans due leapt 32.1% to Rub 1.55 bln.

At present, the lender’s charter capital is equal to Rub 120 mln and is divided in 11,999,500 common and 500 preferred shares with Rub 10.00 par value each. 99% of the bank is controlled by businesses that represent Moscow-based Investtorgbank, with around 20% owned by Investtorgbank itself.