Gazprombank posts 2001 financial results

According to the International Accounting Standards (IAS), net profit of Gazprombank amounted to $81m in 2001, which was thrice as much as in 2000, the press service of the bank stated in its press release. The bank's net profit was $25m in 2000, according to the IAS. It is stressed in the press release that practically every financial characteristic of the bank advanced in 2001 compared to 2000. Assets added 30 percent from $2.94bn to $3.81bn, the volume of equity gained 10 percent from $647m to $714m.

Balance at clients' accounts jumped 60 percent from $1.29bn in 2000 to $2.06bn in 2001. This advance was due to a 30 percent increase in the number of corporate clients and due to servicing of some large Russian companies. The volume of credits given by the bank surged 27 percent from $1.33bn in 2000 to $1.68bn last year. The bank's capital profitability was 11.3 percent in 2001 compared with 3.9 percent in 2000. Assets profitability rose to 2.1 percent compared with 0.9 percent in 2000. The audit of Gazprombank was made by the audit company KPMG.

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