Binbank’s Net Profit Drops Three Times

12 July 2012 (14:29)

The net profit of Binbank (calculated in accordance with the Russian Accounting Standards) dropped by three times in the first half of 2012 and came to 223m RUR against 688m RUR a year earlier. This was mainly due to the need to create non-core asset reserves, a less impressive stock market dynamics, and an increase in the salary fund insurance payments, Prime refers to the bank’s press office as saying.

The bank’s business customers lending portfolio rose by 16% in six months of the year and reached 70.4bn RUR due to attracting about 5,100 new customers.

Binbank’s retail portfolio rose by 7% (up to 8.8bn RUR) in January-June 2012.

Binbank runs six offices in Yekaterinburg.

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