Bank Petrokommerz’s net profit drops 61.2%

The net profit of OAO Bank Petrokommerz plummeted by 675.32 million RUR, or 61.2% in 2009. The figures thus went down to 427.69 million RUR.

In fact, the bank finished off the year 2008 with 1.1 billion RUR of net profit.

Bank Petrokommerz explains the drop in profits had to do with the need to build up on the possible loss reserves and with the increased security transaction profits and foreign currency transaction revenues.


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