OREANDA-NEWS. On 27 March 2009 was announced, that the profit in 2008 amounted to 92 billion Br, which is 26% higher than in 2007. ROE is 23%, and ROA is 2%.

Priorbank’s assets increased by 20% to 5,035 billion Br. The loan portfolio grew by 35% to 3,676 billion Br. Client's funds rose by 38% to 2,330 billion Br.

As of January 1, 2009 the Bank’s equity capital was 641 billion Br having increased by 52%. In 2008 Priorbank increased its authorised capital twice: in May Priorbank increased its authorised capital by 2.6 times to 270 billion Br from internal sources; whilst in October Raiffeisen International Bank-Holding AG invested 50 million EUR to the Bank’s capital, which finally allowed the authorised capital to grow to 412 billion Br.

Being a full-service bank, Priorbank significantly expanded its co-operation with all customer categories.

Considerable success was achieved in the area of corporate clients servicing. The Bank continued to provide financing of investment programmes and foreign trade transactions of its corporate clients. Priorbank, jointly with RZB, provided lending to the largest public sector enterprises and developed non-credit services. As of 01.01.2009 the loans to corporate clients amounted to 1,710 billion Br, having increased by 23% during the year. More than 70% of all loans were disbursed in foreign currencies.

Business with small and medium-sized enterprises developed dynamically. Due to the launch of new strategies, the volume of loans to SME clients reached 677 billion Br having increased by 53%. The Bank market share in terms of loans to individual entrepreneurs made up 31%; 3,055 new customers of this segment were attracted to the bank.

Business with private individuals actively developed. Loans to private individuals increased by 81% to 1.2 trillion Br. A wide range of lending services was offered to clients. A new personal loan "Simple Loan" and credit cards were in great demand amongst the population due its simple conditions of not requiring guarantors. The Bank market share in this segment grew from 8.5 to 9.9%.

In July 2008 Priorbank launched a new Prior Online Internet Banking service allowing its clients to manage their accounts independently at anytime, from any part of the world, with the maximum possible speed and reliability. Private individuals can control the condition of all of their accounts, and the funds flowing through them, as well as make payments.

The resource base of the Bank also considerably increased: funds of legal entities increased by 450 billion Br or 39%; deposits of private individuals rose by 187 billion Br or 34%. Priorbank also issued its own bonds.

Priorbank continued its cooperation with international financial institutions and foreign banks, including Raiffeisenbank and ECAs, with the purpose of attracting investments for on-lending to Belarusian enterprises. In 2008 the Bank attracted USD 1,186 million from various foreign investors.

"The year 2008 was again successful for Priorbank. The Bank demonstrated stable growth in all business lines, achieving record results,” commented Sergey Kostyuchenko, Chairman of the Board of Priorbank. "In spite of the complicated situation on the international and local financial markets, Priorbank possesses an excellent safety margin and is ready to face the present day challenges," he added.