Rosselkhozbank posts 1H 2010 net profit of 163 million roubles

The bottom line is down from the 1H 2009 net profit of 336 million roubles, despite net interest income rising 54.5% year on year to 23.551 billion roubles, with pretax profits slumping 55% year on year to 269 million roubles.

Rosselkhozbank noted that deposits rose 37% between January 1 and June 30 to 315.799 billion roubles, with total assets rising 3.7% over the same period to reach 861.38 billion roubles on June 30. The banks loan portfolio increased 13.7% over 1H 2010 to reach 695.29 billion roubles before provisioning, but over the same period provisioning increased 43% to reach 42.825 billion roubles at the end of 1H 2010.