OREANDA-NEWS. November 19, 2007. Chairman of AK BARS Bank Robert Minnegaliev presented a report on results of the Bank’s financial activity for the first 9 months of the current year to the Board of Directors, reported the press-centre of AK BARS Bank.

It was reported that the volume of private funds had increased by RUB 3,8 bln. (19,4%) for the first 3 quarters of 2007 and at the end of September amounted to RUB 23,5 bln. The retail loan portfolio increased from RUB 9,8 bln. at the beginning of the year up to RUB 17,5 bln. at the end of September. The amount of loans granted to individuals during the reported period increased by 79%, which is higher than the banking sector growth rate (41%).

The most intense growth was in mortgage lending. Since the beginning of the year the volume of mortgage loan portfolio has increased by 2,2 times and amounted to RUB 5,5 bln. as of 01.10.2007.

The corporate loan portfolio increased by RUB 28,8 bln. during the first nine months and amounted to RUB 90,2 bln. at the end of the 3 quarter.

The resources borrowed by the Bank as of October 1, 2007 totaled RUB 116,8 bln. (a 59,8% increase since the beginning of the year). Significant contribution to resource base expansion was due to increase of funds on corporate accounts, issued securities, as well as funds on private deposits.

For the first nine months of 2007 the Bank’s total assets increased by RUB 43,9 bln. or by 42,7%, from RUB 102,9 bln. to RUB 146,9 bln.

The balance profit for the first nine months of 2007 reached RUB 1 526,4 mln.
At the end of the 3 quarter 2007 the Bank’s branch net included 37 branches, 110 outlets, 5 operational offices, 126 stand-alone cash desks. In terms of presence the Bank is number 6 among the Russian banks. For the first 3 quarters of the current year the branch net assets increased by 42% or by RUB 27,2 bln. and amounted to RUB 92,4 bln., including federal branch net, which increased assets by 61% (by RUB 13,5 bln.), and republican branch net, which increased assets by 33% (by RUB 13,6 bln.).

The Bank’s Board of Directors also heard the results of the financial business of ZAO “AK BARS-LEASING” and OОO “AK BARS-IPOTEKA” for the first nine months of the current year and made previously approved changes in the Bank’s Statutes.