SKB-Bank’s Chairman says bank keeps up with growth tempo for over three years

'Last year, we managed to keep up with the business growth figures we’ve had for over three years now. Our balance sheet total and our profit rose from 12 billion RUR to 21 billion and from 150 billion RUR to 382 billion RUR, respectively. The bank keeps on building up its quantitative achievements as well as expanding geographically. To date, SKB-Bank can boast 65 offices all over the country. There used to be only 60 places at the beginning of the year; by the end of 2007, however, the number of our offices will have reached 80. This will give us grounds to think of ourselves as a federal rather than a regional bank. In the early months of 2007, SKB-Bank set up extra offices in Volgograd, Samara, Noyabrsk, and Surgut as well as in Chelyabinsk and Perm Regions,’ SKB-Bank’s Chairman Mikhail Khodorovskiy announced at a press conference devoted to the Ural bank’s breakthrough on the federal and international markets.

‘We’ve already completed all the procedures related to the European Bank for Reconstruction and Development’s participation in SKB-Bank’s authorized capital. This is expected to facilitate our attempts to enter some new, cheaper markets,’ Mr. Khodorovskiy said.

'SKB-Bank went for a fist issue of ruble bonds on June 21, 2007. The total face value of the issue comes to 1 billion RUR; the bonds are expected to be circulating for three years, and the first coupon annual interest rate amounts to 9.75%,’ he observed.


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