We use own funds to expand business, Ural Bank for Reconstruction and Development says

30 January 2008 (09:15)

According to the Profile magazine, the Ural Bank for Reconstruction and Development was one of Yekaterinburg’s four banks to hit Russia’s Top 200 Largest Banks rating on December 1, 2007. Positions were determined by the volumes of equity capital and assets, so the Ural Bank for Reconstruction and Development, with its 3.1 billion RUR worth of net worth, was given the 94th position, while the volume of its quick assets (2.5 billion RUR) gave the bank the 70th position in the rating (which was the second best result in Yekaterinburg).

As a matter of fact, three Yekaterinburg-based banks (including the Ural Bank for Reconstruction and Development) made it to the first hundred banks.

'We used our own funds as extensively as we could, which is why we were able to expand the business in terms of lending and investments. This is not the end of the quest, though, and we’ll definitely keep on growing,’ the bank’s Strategic Development Director Andrei Emelyanov says.

'I believe we’ve got enough assets to make our plans come true, as we have recently got a fifty-billion-dollar subordinated loan from ABN AMRO BANK N.V. So we hope to keep developing and build up our share of retail market, which is something we are most interested in at the moment,’ he notes.

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