PRIME-TASS. Net profit earned by Norvik Bank in 2008 amounted to Rub 300,000, the bank’s press service reported. In 2008, the lender’s balance sheet profit came to Rub 8.1 mln vs. Rub 28.5 mln a year earlier.
The bank noted that “losses from transactions executed on the securities market in Q308 exerted a significant negative influence on the bank’s profit”, which totaled Rub 36.8 mln. The negative revaluation of the portfolio of securities that are reflected on the bank’s books equaled Rub 97 mln at the end of the year.
Norvik Bank’s 2008 net interest income jetted 173% to Rub 171 mln. Commission fees, including those charged for loans, amounted to Rub 33.1 mln, jumping 18.8% in 2008. Working assets climbed to Rub 2.5 bln, increasing 8.7% y-o-y. The portion of working assets in grand total is stable and was equal to 97% throughout the year. The lending institution’s credit portfolio grew 22% to Rub 1.30 bln, while reserves for possible losses rose to Rub 115.3 mln by year-end 2008.
