Bank of Moscow boosts 9M10 RAS net profit 37x

RIA NOVOSTI. The Bank of Moscow’s 9M10 RAS net profit soared 37x y-o-y to Rub 8.7 bln, the lending institution said in a statement quoted by RIA Novosti.

“The lender’s net profit leapt mainly on a spike in net income derived from operations on the financial markets," the bank said in the statement. For the record, the lender’s 9M09 net profit amounted to Rub 233.8 mln.

In July-September 2010 net profit earned by the Bank of Moscow, the core lending institution of Moscow, came to Rub 2.73 bln, the bank said. In January-June the Bank of Moscow bumped up its RAS net profit as much as 19x y-o-y to Rub 6.04 bln.

The Bank of Moscow is a Top 5 lending institution by assets and capital, and also by private deposits. As of December 31, 2009 (under IFRS) assets held by Bank of Moscow Group totaled Rub 825.1 bln and the credit portfolio was equal to Rub 577.8 bln.