OREANDA-NEWS. October 17, 2008. For 9 months of 2008 Priorbank has demonstrated stable and successful growth of its main business activity directions, reported the press-centre of Priorbank.
 
The profit for the period under report amounted to 84.4 billion Br, which is 1.5 times higher than during the similar period of the previous year. ROE is 29.8% and ROA – 2.4%.
 
As of October 1, 2008 the Bank equity capital was 451.7 billion Br or USD 214 million in the equivalent. During this year Priorbank has increased its authorized capital in 2.6 times from 102.8 billion Br up to 270 billion Br. Growth of the authorized capital has been provided out of the internal sources. Till the end of the year Priorbank is planning to increase the authorized capital with the help of its principal shareholder - Raiffeisen International Bank – Osterreich AG.
 
The Bank's net assets made up 5,838 billion Br or USD 2.7 billion having increased by 35.5 % since the beginning of the year.
 
As of October 1, 2008 the loan portfolio was 3,431 billion Br or USD 1,625 million having increased by 25.8% or 703 billion Br since the beginning of the year. The share of long-term loans in the loan portfolio is 41% (1,404 billion Br). Their largest part (72%) is disbursed to the customers in foreign currency. The share of problem debt in the loan portfolio is only 1.4%. 
 
Loans to private individuals have been developing more dynamic. As of October 1, 2008 they amounted to 1,178.4 billion Br having increased by 72.5%. 
 
A new consumer loan “Prosto Credit” (Simple loan) is much in demand among private individuals this year. The new product allows to get a loan on different purposes without a guarantor. In the third quarter of this year the amount outstanding increased by 81% and reached 408 billion Br on October 1, 2008.
 
Private individuals are actively financed with the help of credit cards. As of October 1, 2008 the amount of the loans by means of the credit cards amounted to 423 billion Br or 36% in the total loan volume to private individuals. Priorbank provides credits for construction and purchasing of flats to private individuals in both local and foreign currency. 
 
As of October 1, 2008 the bank resource base was 4,063.5 billion Br (USD 1 925 million) having increased by 35.9%. Legal entities funds were 1,723 billion Br (USD 816 million) or 42% in the bank resource base, private individual loans – 783,3 billion Br (USD 371 million) or 19%. The growth of term resources of the legal entities were 72%. Private individual deposits have increased by 43%.
 
To enlarge the bank resource base Priorbank has actively issued its own bonds. During this year 10 bond issues have been conducted. As a result the volume of the attracted resources with the help of the above mentioned tool was 116 billion Br as of October 1, 2008. 
 
The interbank resources take 39% out of the bank resource base. The foreign currency resources make the main volume of the interbank funds. They have been attracted from foreign banks to finance different large-scale loan projects of state enterprises, loans to small and medium-sized enterprises and private individuals.