OREANDA-NEWS. December 23, 2010. Sviaz-Bank has published its consolidated financial statements for nine months of 2010 prepared in accordance with the International Financial Reporting Standards (IFRS) certified by Ernst & Young Vneshaudit CJSC, the Bank’s auditors, reported the press-centre of Sviaz-Bank.

In nine months of this year, Sviaz-Bank earned a net profit of 2.030 billion rubles, including 844million rubles in the third quarter. Net interest on the Bank’s expanding active operations was the principal source of its net profit.

The Bank’s loan portfolio rose by 44.9% to 73.3 billion rubles from the year beginning. Its portfolio of securities, most of them bonds issued by first-class corporate issuers, went up by 32.1% to 38.2 billion rubles.

Growth in the Bank’s active operations was sustained by balances in the accounts of its corporate and retail customers, not least by the growth in the number of customers. The funds deposited by legal entities and individuals in the Bank’s accounts over nine months of this year nearly doubled by 49.3% to 74.2 billion rubles.

As a result of the increase in the Bank’s profit-earning transactions, it could follow through on its capital growth plans. On October 1, 2010, the Bank’s IFRS capital reached 45.9 billion rubles at a 42.8% capital adequacy ratio under the Basel Agreement.

The Bank’s favorable financial performance and solid capital standing gave reasons to the Fitch Ratings international rating agency to assign it a long-term issuer default (IDR) rating BB in foreign and national currency, short-term IDR B, individual rating D/E, support rating 3, and national long-term rating AA-(rus). The outlooks for long-term IDR and national long-term ratings were stable.

On October 1, 2010, Sviaz-Bank had 49 branches in the Russian Federation, 146 additional offices, and 18 cash offices.