Petrokommerz’s net profit drops 27.6%

The net profit of Petrokommerz Commercial Bank reached 1,103,016,000 in 2008 against 1,524,545,000 RUR a year earlier. The decrease in the net profit has to do with the build-up on the net accrued interest and the foreign currency transactions income, the drop in the net profits coming from securities transactions, and having to invest more in the possible loss reserves, the bank reports.