PricewaterhouseCoopers audits SKB-Bank’s financial reports

SKB-Bank’s financial reports for the year 2010 have recently undergone international audit procedures. The company’s consolidated reports for last year were assessed by PricewaterhouseCoopers Audit in accordance with the existing international standards. Now PwC is a world’s leading auditor and consultant.

The company’s audit report confirms the bank and its daughter enterprise’s total asset volume at 82.89bn RUR, first- and second-level capital at 8.06bnRUR, and net profit at 712bn RUR (as of December 31, 2010). Over one year, the group’s assets (calculated in accordance with the IAS) went up by 40%, while the net profit soared by 356%.

The audit report also says the bank met all the Bank of Russia’s requirements in 2010 and 2009, including meeting all the obligatory norms and regulations. Moreover, the bank never came close to the norms lower limit in 2010 or 2009.


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