JSB “ORGRESBANK” financial audit was completed. Audit of the Bank’s accounting balance as of December 31, 2002 and report on the financial results, report on the cash flow and report on the changes in the shareholders’ equity for the year, which ended on this date, related to the abovementioned accounting balance, was carried out by the CJSC “PricewaterhouseCoopers” in accordance with International Financial Reporting Standards (IFRS).
According to the auditors, financial statement in all essential aspects adequately reflects the financial condition of the Bank as of December 31, 2002, as well as the results of its activities and cash flow for the year, which ended on this date, according to the International Financial Reporting Standards (IFRS).
According to the audited financial statement, JSB “ORGRESBANK” assets by December 31, 2002 amounted to RUB 5,254 bln. (+37,3%, here and later – changes against similar indicator as of December 31, 2001), equity funds (capital) – RUB 2,1 bln. (+16,9%). In the structure of the Bank’s liabilities, the customer funds have increased by 50,2% and reached RUB 1,6 bln.
This has been the fourth year in a row, when auditing financial statement of JSB “ORGRESBANK” in accordance with IFRS was carried out.