Gazprombank's Interim Financial Statements for the 1st Half of 2002 Have Been Reviewed by Deloitte & Touche.Business Editors MOSCOW--(BUSINESS WIRE)--Sept. 20, 2002 Gazprombank's interim financial statements for the first half of 2002, prepared in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with the International Accounting Standards (IAS See iPlanet Application Server. 1. (computer) IAS - The first modern computer. It had main registers, processing circuits, information paths within the central processing unit, and used Von Neumann's fetch-execute cycle. ), revealed that Gazprombank maintained a constant growth of all main financial indicators: - Total assets have increased to USD 4 bln - compared to USD 3.8 bln as of 31 December 2001. - Equity has grown to USD 867 mln - compared to USD 714 mln last year. - Net profit for the 6 months 2002 was USD 153 million - compared to USD 81 million for the 12 months of 2001. Such a substantial growth in profits is mainly due to an increase in interest income on loan portfolio, income from investment projects, revaluation Revaluation A calculated adjustment to a country's official exchange rate relative to a chosen baseline. The baseline can be anything from wage rates to the price of gold to a foreign currency. In a fixed exchange rate regime, only a decision by a country's government (i.e. of assets in foreign currencies (primarily in Euro) and increase in value of Gazprombank's trading securities portfolio. Return on equity and on assets has increased to 17% and 4%, respectively, which is a considerable level both for Russian Russian associated in some way with Russia. Russian blue a breed of cats with short, dense, silver-tipped blue-colored coat and vivid green eyes. and foreign banks.
The dynamics of Gazprobank's main financial indicators for the
period of 2000 - 1st half of 2002 are as follows:
Indicator 2000, 2001, 1st half Increase in the
mln USD mln USD of 2002, period of 2001
mln USD - 1st half of
2002
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Total assets 2,937 3,811 3,969 35%
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Loans to customers 1,427 1,814 2,123 49%
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Shareholders' Equity 647 714 867 34%
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Amounts owed to customers 1,300 2,086 2,107 62%
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Net Profit 25 81 153 512%
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Return on equity 5.4% 11.9% 17.6% -
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Return on assets 1.0% 2.4% 3.9% -
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In 2001 Gazprombank successfully placed the first issue of Euro Medium Term Notes (EMTNs) on the European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. financial market through Gazinvest Finance B.V. (Netherlands), a Gazprombank's subsidiary. Additionally, in August 2002 Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. announced that it has assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. a rating of Ba3 for the upcoming issue of EMTNs by Gazprombank. The rating corresponds to the sovereign rating of the Russian Federation Russian Federation: see Russia. . Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank AG (London) was the Lead Manager of the first issue of Gazprombank's EMTNs. The second issue is planned for the fall of 2002. |
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