VUZ-Bank’s net profit plummets 295.43% in October-December 2008

VUZ-Bank’s net profit plummeted by 286.657 million RUR, or 295.43% in the last quarter of 2008. In the third quarter of the year, for instance, the bank made 97.03 million RUR worth of net profit, while its net loss came to 189.627 million RUR in the fourth quarter of 2008.

The bank reports this decrease in the net profit has been brought about by the 233.78-million-ruble increase in debt reserves.

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