19 July 2007
Bank Vozrozhdenie is traditionally among the TOP-30 Russian Banks compiled by the Bank of Russia and continues to grow during the last years faster than the overall banking system.
The Bank’s assets totaled 92.7 billion rubles ($3.6 billion) at the end of the second quarter 2007 according to Russian Accounting Standards (RAS) and increased by 13.7% compared to the end of the first quarter 2007.
Net profit of Bank Vozrozhdenie for first half 2007 was 1.3 billion rubles ($50 million), exceeding the profit for the same period of the previous year by 25.9%.
The Bank’s equity, calculated according to the Bank of Russia methodology, grew 2.5 times compared to H1 2006 result and totaled 13.6 billion rubles ($ 526 million). In May 2007, the Bank successfully placed its 20th issue of shares for 4.6 billion rubles ($177 million).
The total amount of attracted clients’ funds, including due to banks and issued securities, grew by 60.3% during the last 12 months and as at July 1, 2007 was 121.7 billion rubles ($4.7 billion). Retail funds reached 41.2 billion rubles ($1.6 billion) including balances on card accounts of 9.7 billion rubles ($373 million).
The Bank’s total loan portfolio at July 01, 2007 was 77.7 billion rubles ($3 billion), an increase of 88.0% compared with July 01, 2006. The retail loan portfolio more than doubled during the same period to 12.5 billion rubles ($486 million) including credit card balances of 2.0 billion rubles ($79 million).
Bank Vozrozhdenie’s creditworthiness is confirmed by the international rating agency Moody’s Investors Service that has assigned it a rating of Ba3 and National Scale Rating Aa3.ru. All ratings have stable outlook.
Vozrozhdenie Bank, a community bank for companies and individuals, was founded in 1991. (General License from the Central Bank of the Russian Federation # 1439, March 24, 2003.) Among the Top 30 Russian Banks in the Central Banks rating, its network includes 158 offices and about 500ATMs in 19 regions of Russia. The Bank provides more than 1,000,000 individual and 45,000 corporate clients with a range of services, from savings accounts, payment handling, payroll management, to mortgages, bank cards and business and consumer loans. According to “Expert” magazine, in 2006, the Bank ranked 6th in terms of both the number of mortgages granted and in payment card business.