From January through May 2006, the SUDOSTROITELNY BANK (Moscow) increased the net profit ten times to R400 million. Based on Russian accounting standards, the net profit exceeded the volume of profit gained for the whole of 2005. The balance sheet total exceeded $1.0 billion (R28.4b), increasing by almost 40%. The credit portfolio rose 22.7% to R9.0b.
Source: BANKIR.RU, June 26, 2006
