URSA Bank published a report on its consolidated accounts in the first half of 2007, with figures compiled in accordance with the IAS; the report was audited by KPMG.

The data provided in the report indicate that the bank’s assets rose by 3.1 times on July 1, 2007 compared to a year earlier and reached 143.7 billion RUR. The bank’s equity capital grew by 7.7 times and came to 26.4 billion RUR.

URSA Bank’s profits amounted to 1.43 billion RUR in January-June 2007, which exceeds the figures for January-June 2006 by 2.4 times; its returns on assets and equity amounted to 2.5% and 31.7%, respectively.

Most of the bank’s assets are constituted by the loan portfolio finances: these amounted to 97 million RUR, or 67% of all assets, on July 1, 2007 (excluding possible loss backup funds). Thus URSA Bank’s loan portfolio increased by 2.8 times compared to July 1, 2006. The share of over-ninety-day bad debts on retail loans has dropped by .4% since the beginning of the year; in addition, the bank has got enough reserves to make up for the bad debt by 108%.

URSA Bank’s liabilities reached 117.3 billion RUR on July 1, 2007, which is 2.7 times greater than a year before.

‘We feel great about the results and the dynamics of the bank’s development; this success has been brought about by systematic efforts in terms of creating an effective business management system as well as in terms of launching new products and services our customers need,’ says URSA Bank’s GD Kirill Brel.