MDM Bank boosts FY11 RAS net profit by 3.1x

PRIME-TASS. MDM Bank, a Top 30 lender in Russia, managed to bump up its net profit compiled under the Russian Accounting Standards (RAS) by 3.1-fold to Rub 1.38 bln in 2011, Prime-TASS wires quoting the bank’s data.

As of January 1, 2012 the bank’s assets declined 8.8% y-o-y to Rub 342.44 bln.

The lender’s pre-tax profit totaled Rub 2.21 bln in 2011, or 8% less than in 2010.