Russia’s SVIAZ BANK (Moscow) said it had increased the 1H2007 net profit by 19 times to R3.3749 billion compared with the same period of last year. The bank’s 2Q net profit grew by 250% quarter on quarter to R2.6233b. The 1Q2007 net profit was R751.6m. Official reports say profits increased due to incomes raised from stock transactions.
Source: WWW.KOMMERSANT.RU, July 16, 2007
