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Financial Data

We are a modern, dynamically developing bank with an active position in all sectors of financial services.


Dear colleagues,

We are pleased to present you Absolut Bank’s Audited Financial Report for the 2006.

During the year of 2006 the Bank demonstrated considerable growth in both corporate and retail business. Total assets increased more than two times and comprised US$ 2.518 million. The main source of the growth was the expansion of the Bank's credit portfolio, which increased more than two times up to US$ 1.624 million. Retail credit portfolio achieved more than US$ 300 million, focusing on the mortgage portfolio which took over US$ 226 million. The share of retail loans increased in 2006 from 13% to 20% of cross loans.

Strong assets growth was supported by capital increase and obtained financing from the local and international capital markets in the form of customer deposits, bank to bank loans, bond issues and syndicated loans. In the end of 2006 the Bank’s total capital comprised US$ 270 million* including subordinated loans for the amount US$70 million. During 2006 Absolut Bank has successfully placed its debut 3-years US$200 million Eurobonds issue and raised US$ 120 million A+B Loan arranged by EBRD.

As the part of its retail business strategy the Bank has continued to open new offices in Russian regions. Today Absolut Bank provides banking services in 11 Russian regions through 38 offices and have a plan to extend the network up to 100 offices in 22 Russian regions by the end of 2008.

Net profit comprised US$ 26 million. This result becomes even more noteworthy, given the Bank’s significant investments made in the branch network development, the hiring of professional staff and IT development in order to extend service capacity and quality of the products offered.

Let us thank you for the trust and confidence in Absolut Bank. We look forward to continue developing our fruitful collaboration.

Yours faithfully,
Absolut Bank

Anatoly Maksakov,

 

Deputy Chairman of the
Management Board



* In February 2007 the Bank placed new share issue for amount of US$ 60 million which was partially financed by means of conversion of the subordinated deposits in the amount of US$ 50 million.

 

 
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Spotlights

15th among the banks that issued the most loans to individuals as of May 1, 2009 (Profile, June 2009)
Among the top 5 banks in the Best Money Dealer 2008 nomination (December 29, 2008)
19th among Russia’s biggest brokers in 2008 (RBC, February 2009)
 

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