OREANDA-NEWS. July 22, 2009. Sviaz-Bank has worked out the tentative results of its performance in the first half of 2009. On July 1, 2009, Sviaz-Bank’s net assets reached 131.6 billion rubles, or 14.1% more than they were on January 1 of this year. The Bank has 27.5 billion rubles in its own assets (capital), reported the press-centre of Sviaz-Bank.

The balances in the accounts of the Bank’s individual customers rose to 5.9 billion rubles in six months of the year, increasing by 35.1% from what they were on January 1, 2009, and balances in the corporate customers’ accounts went up by 7.5%, to 59.2 billion rubles.

On July 1, 2009, its outstanding loan debt amounted to 115.8 billion rubles. The Bank’s reserves to cover possible losses reached 60.8 billion rubles on July 1 (a huge increase on 5.15 billion rubles on January 1, 2009). Overdue debt shot up from 3.95 billion rubles on January 1 to 10.5 billion rubles on July 1, 2009.

The Bank’s capital adequacy ratio of 4.18% on January 1 jumped to 24.05% on July 1. On January 1, the Bank had 23.7 billion rubles invested in securities, which edged up to 26.9 billion rubles on July 1, 2009.

“A combination of measures undertaken to stabilize the Bank’s financial position has helped restore its capital foundations, resume active operation, prevent the flight of its customers’ funds, and build up its resources,” said Andrei Kaluzhsky, Vice Chairman of Sviaz-Bank’s Management Board. “Significant positive changes have occurred in the Bank’s liabilities since the start of the year. It plans to develop business areas such as lending to corporate customers, medium-sized and small businesses, retailing operations, mortgages and consumer credit to employees of corporate customers, all of which will give the Bank a stable net interest income.”