OREANDA-NEWS. August 4, 2011. As of the results of Rosbank activity in the second quarter 2011, balance profit of the bank amounted to 2.9 billion rubles, showing growth by 220% comparing to the result of the first quarter. The bank’s net profit in the second quarter 2011 reached 2 billion rubles which is higher than the result of the first quarter by 127%. The bank’s capital increased by 2.5% up to 50 billion rubles.  

Rosbank retail loan portfolio for the reporting period increased by 2.5% and totaled to 142.6 billion rubles. In parallel with increasing volume of loans, a tendency for deposit volume growth has also maintained. As the results of the second quarter 2011, deposit portfolio of individual clients reached 117.7 billion rubles, showing 2.8 % growth.

“The second quarter was a fruitful period for the bank; we could achieve a significant increase of income from 876 millions to 2 billions rubles and intensify the activity in all main business lines, - says Rosbank CEO Vladimir Golubkov. – Recovery of reserves and increase of income from operations with securities influenced on profit growth of the reporting period. Rosbank is systematically realizing Socete Generale strategy, increasing volumes of loan and depostit portfolio. As of today, Rosbank takes 9% of car loan market and 5% of mortgage market. Having finalized consolidation with Bank Societe Generale Vostok, we plan to keep current development pace and demonstrate high financial results at the end of the year”.