In 2007 “ORGRESBANK”, JSB, grew 5 time as fast as the market

18.02.2008

In 2007 “ORGRESBANK”, JSB, grew 5 time as fast as the market

 

“ORGRESBANK”, JSB, summed up its work in 2007. All main indices of the activity showed record-breaking growth.

  Mld. Roubles. Mld. Roubles.  
  01.01.2008 01.01.2007 % growth for years
Equity capital*

7

3,29

112%

*after the procedure of registration – increase to 3,82 Mld. Roubles .

10,8

 

 

Assets

72,9

24,2

201%

Credit portfolio (including credits to banks)

54,9

14,7

273%

Credits to enterprises and companies

39,9

13,1

205%

Credits to natural persons

3,8

0,8

375%

ПAttraction of cleints’ funds в

21,5

13,9

55%

Net profit

0,74

0,62

20%

At the press conference concerning the results of the year, the Chairman of the Board, Igor Kogan, noted that the tempo of bank development in the previous year had considerably outpaced the growth tempo of the Russian banking system in general.

“We sum up our first year of the work within Nordea Group”, said Igor Kogan, “During this year our growth tempo increased 3,5 times, we considerably exceeded even spirited forecasts. Our assets grew 3 times, credit portfolio – almost 4 times at the reducing of the number of overdue credits almost 6 times.

Considerable growth of client base took place first of all due to the larget Russian companies. Thanks to the stable funding from our principal shareholder the turbulence at the Russian market did not affect the Bank development. On the contrary, today “ORGRESBANK” is able to offer the best products and the most profitable conditions both to companies, and to private persons. Thus, our bank did not increase the interest rates for hypothec. The Bank sale network grew more than 2 times in 2007, and at the beginning of 2008 our branches will be operating in 16 cities.

In 2008 according to our strategy we will continue active cooperation with corporate clients, first of all with large and the largest Russian and foreign companies, develop retail products, extend the network and we intend to keep up high growth tempo”.


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