AK BARS Bank’s net profit plunges 87.1%
9 November 2009 (11:59)
The net profit of AK BARS Bank went down by 297.25 million RUR, or 87.1%, that is, from 341.284 million RUR in the second quarter of 2009 down to 44.032 million RUR in the third quarter.
The company says the decrease in net profit was brought about by the dropping loan income and the need to build up on the possible loan reserves. What is more, the net profit declined because the bank had to re-evaluate its foreign currency funds.
The company says the decrease in net profit was brought about by the dropping loan income and the need to build up on the possible loan reserves. What is more, the net profit declined because the bank had to re-evaluate its foreign currency funds.
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