Industrial Bank Made SYP 1,044 Billion in Profits in 2010
Writer/Source: Sana (1/4/2011)
The net profit of the Industrial Bank in 2010 reached SYP 1, 044 billion, which helped cover the SYP 809 million losses of the past four years and make reserves of SYP 48 million.
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The Bank's total assets were valued at SYP 55 billion compared with SYP 41 billion in 2009, making a SYP 14 billion increase due to an increase in deposits by 25 % and in loans by 22 %.
Head of the Budget Preparation Committee at the Bank, Shahada Othman, told SANA reporter that the main reason behind the increase of revenues was the issuance of the exemption decree no. 28 for 2009 and loan settlement decree no. 217 for the same year, in addition to the new products and services provided by the Bank.
The total value of deposits in the same period hit SYP 40,845 billion, and the capital investments were estimated at SYP 28,045.
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