MDM-Bank’s net profit drafted to IFRS came to Rub 2.50 bln in 9M08 or 35.1% lower than in the year-earlier period (Rub 3.85 bln), the lending institution said in a press release. Earnings totaled Rub 14.52 bln, rising 11.8% y-o-y. The cost income ratio lowered from 46.8% to 45.1%. Q308 opex amounted to Rub 1.73 bln, sliding 17.9% y-
Assets grew 3.8% to Rub 333.85 bln (Rub 321.48 bln as of December 31, 2007). As the lender’s representatives noted, assets mainly climbed on a 23.3% upswing in the aggregate credit portfolio to Rub 230 bln (Rub 186.50 bln as of year-end 2007).
In the first nine months of 2008 equity capital grew 5.7% to Rub 41.12 bln (Rub 38.89 bln as of December 31, 2007), while the portion of loans granted to construction and real estate businesses in the aggregate credit portfolio fell from 25% at the end of 2007 to 17.7% as of September 30, 2008. The lending institution’s securities portfolio was slashed by 97.1% and stood at Rub 314 mln as of September 30, 2008.
According to the data from news agency Banki.ru and Interfax-CEA, as of July 1, 2008 net assets of MDM-Bank stood at Rub 303.17 bln (13th place in Russia). The lending institution is a member of the national deposit insurance system.
