1 November 2007
Bank Vozrozhdenie continues to grow and strengthen its position among the TOP-30 Russian Banks. The third quarter 2007 resulted in a significant increase of total assets according to Russian Accounting Standards, up 58% compared to the same period of the previous year, and reaching 100 billion rubles.
Net profit of Bank Vozrozhdenie for the first nine months of 2007 was 1.82 billion rubles ($73 million), exceeding the profit for the same period of the previous year by 63%. Net profit for the third quarter 2007 alone exceeded 651 million rubles. The main factor, led to net profit increase of 36% compared to the second quarter of the current year, was the growth of revenue.
The Bank’s capital, calculated according to the Bank of Russia methodology, at October 1, 2007 was 14.1 billion rubles ($564 million) and more than doubled the previous year.
The total amount of clients’ funds, including due to banks and issued securities, grew by 53% during the last 12 months and at October 1, 2007 exceeded 87.2 billion rubles ($3.5 billion). This includes retail funds, which reached 44 billion rubles ($1.8 billion).
The Bank’s total loan portfolio at October 01, 2007 was 82.5 billion rubles ($3.3 billion), an increase of 61% compared to the same period of last year.
Bank Vozrozhdenie’s creditworthiness is confirmed by the international rating agency Moody’s Investors Service. The Bank’s Financial Strength Rating is “D-”. Long-term National Scale Rating is Aa3.ru. Foreign Currency Deposit Ratings and Local Currency Deposit Rating are Ba3/NP. 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 163 offices and about 530 ATMs 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.