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

Total assets as of June 30, 2006 were U.S.$45,327 million, up 23.4%, primarily due to a 18.9% (U.S.$3,770 million) increase in net customer loans, accompanied by a 32.7% (U.S.$2,422 million) growth in securities and investments and a 27.9% (U.S.$1,156 million) increase in assets due from other banks.

Total liabilities rose by 25.6% in the first half of 2006, primarily due to a 45.6% increase (U.S.$5,826 million) in customer accounts, a 39.6% increase (U.S.$1,164 million) in other borrowed funds and 15.2% increase (U.S.$1,101 million) in debt securities issued.

In 1H2006 VTB acquired 98% of Bank Mriya (Ukraine) with assets of U.S.$426 million for U.S.$67 million. VTB Group branch openings included 3 VTB universal branches, covering Russia’s North-West, Siberia and Volga regions.

As the Group seeks to diversify its customer base and lending capacity, the exposure to the largest group of borrowers as a percentage of gross customer loans decreased to 17.2% as of June 30, 2006 from 19.7% as of December 31, 2005.