OREANDA-NEWS. January 28, 2008. Investment bank UBS in its Fixed Income & FX Research published on 28.01.2008 assigned a BUY recommendation to URSA Bank Eurobonds for ?400 m and ?300m maturing in 2010 and 2011, respectively, and to hold its Eurobond for US$350 m maturing in 2009.

UBS recommendations are based on URSA Bank’s 9M2007 financials and the strengthening of its shareholding structure.

In its research, UBS highlights the Bank’s network, which is the 7th in the country, covering 44% of Russia.
URSA 9M07 results displayed improved profitability and sustainable asset quality. Total assets grew 57% since 2006YE to US$6.7 bn. Net profit already exceeded entire 2006 level by almost 2.3 times and stood at US$95 mln.