OREANDA-NEWS. October 11, 2007. Per management estimates, over the nine months of 2007 URSA Bank’s assets grew by 60% to over US$6.8 bn, and equity grew 1.9 times to reach US$1,058 mn.

Net income for the nine months amounted to US$ 90 mn, which is 3.1 times the income for the nine months of 2006*.

The Bank’s loan portfolio grew three-fold since October 1, 2006* to reach US$5.1 bn, the growth for the third quarter being US$ 1.3 bn.

The NPL over 90 days decreased by 0.4% since the year-opening, and are covered by provisions at a comfortable level of 113%.

The customer accounts were US$1.9 bn, or up by US$ 300 mn from January 1, 2007.

The return on assets and equity, as well as the net interest margin remain above market averages. The cost to income ratio improved from 50.5% at June 30, 2007 to 49.1%, and total capital adequacy ratio is very comfortably at 16.3%.