Gazprombank posts 1H 2010 Net Profit of 32.7 billion Roubles

Gazprombank, has posted a 1H 2010 Net Profit of 32.7 billion Roubles under IFRS.

The bottom line is up 34% from 24.4 billion roubles in 1H 2009 with corporate deposits up by 11.1% over the half to 849.5 million roubles, as individual deposits rose 17.1% over the half year to 199.8 million roubles. Corporate loans rose 5.8% to 765.4 million roubles from 723.3 million roubles at the end of 2H 2009, while consumer loans increased 5.3% to 85.5 million roubles half-on-half.

Gazprombank said the result was underpinned by the continued fall in non-performing loans to 3.3% from 3.9% in the same period of 2009. That enabled loan provisioning to fall to 5.9% from 6.9% at the start of the year.

Revenues were boosted by foreign exchange earnings rising to 11.9 billion roubles, compared to 8.7 billion rubles for the first half of 2009.