In 2005, the Moscow AVANGARD bank reported the IAS pretax profit of R1.15 billion, up 150% year-on-year. The net profit grew from R394 million as of January 1, 2005, to R892m on January 1, 2006. Bank assets grew from R19.922b to R24.541b. The capital increased from R3.698b to R4.668b.
Source: AVANGARD BANK PRESS SERVICE, May 29, 2006
