OREANDA-NEWS. July 19, 2007. Bank Vozrozhdenie is traditionally among the TOP-30 Russian Banks compiled by the Bank of Russia and continues to grow during the last years faster than the overall banking system.

The Bank’s assets totaled 92.7 billion rubles ($3.6 billion) at the end of the second quarter 2007 according to Russian Accounting Standards (RAS) and increased by 13.7% compared to the end of the first quarter 2007.

Net profit of Bank Vozrozhdenie for first half 2007 was 1.3 billion rubles ($50 million), exceeding the profit for the same period of the previous year by 25.9%.

The Bank’s equity, calculated according to the Bank of Russia methodology, grew 2.5 times compared to H1 2006 result and totaled 13.6 billion rubles ($ 526 million). In May 2007, the Bank successfully placed its 20th issue of shares for 4.6 billion rubles ($177 million).

The total amount of attracted clients’ funds, including due to banks and issued securities, grew by 60.3% during the last 12 months and as at July 1, 2007 was 121.7 billion rubles ($4.7 billion). Retail funds reached 41.2 billion rubles ($1.6 billion) including balances on card accounts of 9.7 billion rubles ($373 million).

The Bank’s total loan portfolio at July 01, 2007 was 77.7 billion rubles ($3 billion), an increase of 88.0% compared with July 01, 2006. The retail loan portfolio more than doubled during the same period to 12.5 billion rubles ($486 million) including credit card balances of 2.0 billion rubles ($79 million).

Bank Vozrozhdenie’s creditworthiness is confirmed by the international rating agency Moody’s Investors Service that has assigned it a rating of Ba3 and National Scale Rating Aa3.ru. All ratings have stable outlook.