Through the issue of additional common shares Norvik Bank’s charter capital rocketed 133% to Rub 700 mln in 2008, the lending institution’s press service reported. The bank’s working assets reached Rub 2.5 bln, rising 8.7% or Rub 200 mln y-o-y.

The bank’s credit portfolio totaled Rub 1.3 bln (up Rub 221 mln or 20.4% y-o-y). “In addition, the portfolio mainly grew on the back of new clients. In line with the lender’s strategy, the portion of the credit portfolio in grand total grew from 46.6% at the beginning of the year to 51% in late December 2008. The bank’s corporate clients increased 30.8% y-o-y” — the press release said. Commission fees, including from loans granted, amounted to Rub 33.1 mln, rising 18.8%, whereas net interest income totaled Rub 171 mln, jetting over 173% on the year.

According to the data from and news agency Interfax-CEA, as of July 1, 2008 net assets of Norvik Bank stood at Rub 2.68 bln (412th place in Russia). The lending institution is not a member of the national deposit insurance system.