Russia’s URSA BANK (Novosibirsk) has published consolidated reports to International Financial Reporting Standards (IFRS) for 2006. The accounting auditor is KPMG. According to the report, the bank’s assets of January 1, 2007, stood at R111.6 billion, surpassing the bank’s 2005 assets 3.9 times. The largest asset (60%) is the lending portfolio, equalling R67.4 billion, up 3.4 times from the end of 2005. URSA BANK’s equity capital on January 1, 2007, equalled R15b, 5.3 times more than in the same period last year. Based on 2006 results, the bank earned a net profit of R1.5b. Compared to 2005, profit rose 2.9times.
Source: WWW.NOVECON.RU, March 12, 2007
