OREANDA-NEWS. Vneshtorgbank (VTB) announced its consolidated IFRS financial results of VTB Group for the first half of 2006.

The Group’s consolidated shareholders’ equity increased to U.S.$5,831 million as of June 30, 2006 from U.S.$5,269 million as of December 31, 2005.

As of June 30, 2006 VTB Group’s consolidated BIS Tier 1 capital was U.S.$5,476 million, compared to U.S.$4,927 million as of December 31, 2005, and total BIS capital was U.S.$6,261 million, compared to U.S. $5,898 million as of December 31, 2005.

Despite growth of capital in absolute terms, capital adequacy calculated in accordance with the Basle Capital Accord declined, reflecting the Group’s expansion and growth in business volumes. BIS Tier 1+2 capital adequacy ratio decreased from 14.1% as of December 31, 2005 to 13.1% as of June 30, 2006. The capital adequacy ratio is well above the 8.0% minimum set by the Basle Accord, which Management estimates to be sustainable in the short to medium term.