UBRD promoted by Interfax-CEA

7 November 2008 (09:27)

The Ural Bank for Reconstruction and Development was promoted by nine positions in Russia’s Top 100 largest banks (in terms of asset volume) by Interfax-CEA. The center’s research based on the data available as of September 30, 2008 featured only six Ural Federal District-based banks in the final Top 100 ranking. The Ural Bank for Reconstruction and Development was the one with the fastest-growing assets against the other Ural banks. The bank’s asset volume increased by 31.5% in January-September 2008 and reached 49,995,200,000 RUR.

‘As a matter of fact, the net debt amounted to 32.5% of our assets over the first thee quarters of the year, which means the driving force behind the bank’s asset growth was the loans we offered to the real sector as well as to private borrowers. Incidentally, supporting the country’s real sector with loans is the agenda-setting issue for both Russia’s leading politicians and the financial experts. So, it would only make sense if the state actually included the banks that are good at working with this real sector in its business support plan,’ says the Ural Bank for Reconstruction and Development’s Strategic Development Director Andrei Emelyanov.

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