1Q Pretax Profit Increased 2.3 Times to RUR 15.3 Billion
OREANDA-NEWS. May 4, 2007. The pretax profit of Gazprombank for the first quarter of 2007 increased by 2.3 times and reached RUR 15.3 billion. The increase is 128% compared to the same period of the previous year.
The main financial performances of the bank manifested sustained growth during the first three months of the year. The bank has increased its loan portfolio to RUR 646.9 billion, up by 42 percent. Corporate clients’ funds augmented by 139 percent and stand at RUR 725.1 billion.
Gazprombank has been continually set among the top three Russian banks. The bank is the fifth among the banks of the Central and Eastern Europe.
Gazprombank has investment-grade ratings of the biggest international rating agencies. Moody’s long-term foreign currency deposit rating of the bank stands at Baa2 which is themaximum available for Russia, the long-term senior debt rating of the bank is the highest in Russia (A3). Standard & Poor’s has assigned investment-grade ratings of BBB- to Gazprombank’s long-term counterparty credits and borrowings.