According to RAS profit of B&N Bank in 1Q2009 amounted to RUB 142 mln.

According to RAS profit of B&N Bank in 1Q2009 amounted to RUB 142 mln.

Balance-sheet profit of B&N Bank in 1Q2009 amounted to RUB 142 mln.

Since the beginning of the year corporate loan portfolio has increased by RUB 5.2 bln. (21%) and amounted to RUB 30 bln. Increase in the retail deposits for the accounting period has comprised about RUB 3.2 bln.(11%) and reached RUB 32.6 bln.

Shareholder’s equity of the Bank as of the end of the quarter was about RUB 11.1 bln. and demonstrated the upsurge of RUB 551 mln. (5%). This fact enables the Bank to meet the requirements of CBR to capital adequacy (H1) at the excessive level – 18.8% at the minimum ratio of 10%.

Allowance for impairment losses amounted to RUB 521 mln. So, the provision rate on the loan portfolio was increased up to 7.8% against 6.8% as of the beginning of the year. The provisioning rate in the Bank is higher than in other banks and this fact is the evidence of the conservative approach to risk assessment.

In 1Q2009 B&N Bank optimized substantially its G&A expenses which amounted to RUB 673 mln. (cost saving is about 26% of the average quarterly level of 2008 or 14% of the expenses for the similar accounting period of the last year).

Latest News ORGRESBANK has summarized results of the first half year of 2009 B&N Bank has improved its loan book quality Regulation of the Russian Government dated June 23, 2009 ¹ 854-r Alfa-Bank 2008 Annual Report On Approving Ernst and Young Vneshaudit as Auditor of Vnesheconombank's Annual Financial Statements for 2009 B&N Bank has issued IFRS Consolidated Financial Statements for the year ended 31 December 2008 TransCreditBank Presents Its Financial Statements BNP Paribas Group: Results as at 31 March 2009 TransCreditBank Group Produced its 2008 IFRS Accounts UkrSibbank's Comments on Performance Results for 1Q 2009

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