OREANDA-NEWS. July 13, 2011. According to the research of the National Rating Agency published in Profile magazine, Absolut Bank was 27th in the list of most profitable banks. The rating gives the Bank’s profit figure of RUB 361.5 m based on February performance.

Nikolay Sidorov, CEO of Absolut Bank: “In the sharp phase of the crisis we significantly reduced our business in most risky areas, including the loan portfolio of Corporate Domain. Also, we provisioned very conservatively, which had an adverse impact on our financial performance. Today the situation has changed. A considerable part of non-performing loans are no more past due or debts are repaid in full; the Bank resumed active lending, and we already can see areturn on this. I am sure that in the future this positive trend will continue, and we will strengthen our positions in the key business segments.”

According to the rating, Absolut Bank is also among Top 20 retail lending banks. As of 1 February 2011, the total amount of loans issued by the Bank amounted to RUB 39.5 bn.