OREANDA-NEWS. March 21, 2008. Results for 2007 prove the ongoing stable growth and strengthening of financial position of JSC "BPS-Bank" in the banking services market of the Republic of Belarus.

IFRS net profit of JSC "BPS-Bank" for 2007 increased by 46,5% up to BYR 53.6 billion in comparison with BYR 36.6 billion received in 2006. Operating profit of the Bank for 2007 grew by 38.9% and made BYR 80.5 billion. Net interest income of the Bank for 2007 (before provision) amounted to BYR 108.6 billion which is by 21.3% more than in 2006.

The equity of the Bank grew up by 1.4 times in comparison with the beginning of 2007 and reached BYR 272.1 billion. The Bank's assets grew by 1.5 times up to BYR 3,455.5 billion.

The Bank's loan portfolio increased by 38.1% from BYR 1,515.3 billion in 2006 up to BYR 2,093.2 billion as at the end of 2007.

The Bank's sustainable growth in 2007 made 20.1% against 19.4% in 2006.

Return on equity (ROE) made 23.0 % which is by 1.9pp more than in 2006.

Return on assets (ROA) remained at the same level of 1.9% comparing with 2006.

In 2007 the Bank strengthened its operating efficiency. Cost-to income ratio before provision made 60.1% which is by 5.3pp less than in 2006.

Following the Main business directions, in terms of improvement of corporate governance, JSC “BPS-Bank” prepares interim IFRS statements on a quarterly basis starting from 2006. IFRS financial statements for 2007 have been confirmed by the audit company “Deloitte & Touche”.