The Ural Bank for Reconstruction and Development was Sverdlovsk Region’s No.1 bank in terms of asset volume in the first half of 2008, RosBusinessConsulting reports. The bank’s net assets reached 46.583 billion RUR on July 1, 2008, which is the 59th best result among Russia’s top 100 banks and the best result among all the Ural ones.

The Ural Bank for Reconstruction and Development’s net assets went up by 56.2% compared to July 1, 2008, so the bank was therefore promoted by eight positions in the Top 100 rating over one year, the bank’s press officer reports.

This dramatic business expansion largely has to do with investing heavily in subsidiary network growth over the last two years: the strategy is now entering the ROI stage.

‘Nineteen new offices were set up in 2006, twenty-six were introduced in 2007, and ten outlets appeared in the first half of 2008, so the bank now runs 95 outlets in ten Russian regions. All this subsidiary growth is now yielding impressive income,’ says the Ural Bank for Reconstruction and Development’s Strategic Development Director Andrei Emelyanov.