Globexbank’s net profit goes down 15%

The net profit of ZAO Globexbank declined by 171.795 million RUR, or 15.06% over a year. The organization’s profits reached 968.62 million RUR in the year 2010 against 1.14 billion RUR a year earlier.

The bank explains the drop in its net profits by the need to set up some possible loan loss reserves; this need, in its turn, was brought about by the bank’s efforts aimed at creating a legal entities’ lending portfolio.

Other materials on the topic::