06.11.2007, 20:05
Rodovid Bank Continues Expansion, Opens Five More Branches
OREANDA-NEWS. Rodovid Bank (RODB: BUY) announced that its new outlets in the Poltava, Simferopol, Luhansk, Donetsk and Kiev regions are now open for business. Two more offices in Lvov, Mukachevo and Kerch are slated to open their doors in November. As of July 1, 2007, the bank's retail network consisted of 210 branches/outlets. Earlier this week, the bank reported stellar 9M financial results: net income of USD 7.7 mln (up 2.5 times y-o-y), assets of USD 1.45 bln (up 2 times YTD), and liabilities of USD 1.23 bln (up 70% YTD). Over the period, the bank grew its equity 2.5 times to USD 219.7 mln. Rodovid with its 30% upside is one of top picks of Concorde Capital's analysts and is continuing its rapid retail expansion.
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