In the first half of 2006, the RUSSIAN STANDARD bank raised its reserves for possible loan losses by more than five times from R1.88 billion to R9.6b year-on-year. The figures are from the bank’s RAS report. As of December 31, 2005, RUSSIAN STANDARD had a consolidated credit portfolio of R98.6b, nearly tripling over the past year. In 1H2006, RUSSIAN STANDARD lent R10.36b to its clients, a 150% rise from the R4.17b lent in the same period last year.
Source: VREMYA NOVOSTEI, August 25, 2006
