Uralfinprombank’s net profit drops 79.5%

8 July 2009 (07:47)

The net profit of UralFinPromBank went down by 79.5% (from 17.38 million RUR to 3.57 million RUR) in the second quarter of 2009 compared with the first quarter of the year.

The bank explains this decrease in net profit has to do with the need to set up reserves that could make up for the possible bad debt losses as well as cover their loan debts; besides, the bank had to spend more on maintenance and pay greater interest on attracted resources.

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