SKB-Bank’s financial records undergo international audit

SKB-Bank’s financial records for the year 2007 have successfully undergone the international audit procedures. The bank’s chief accountant Oleg Morozov reports KPMG, the company that audited SKB-Bank’s consolidated accounts for 2007 on the basis of international standards, is one of the world’s largest and best-reputed auditors.

KPMG’s report states that the bank and its daughter enterprise’s overall asset volume amounted to 29.962 million RUR on December 31, 2007. Their funds reached 3.843 billion RUR, its net profit came to 435 million RUR. SKB-Bank group’s assets and net profit (calculated on the basis of Russian Accounting Standards) increased by 60% and 88% respectively last year.

‘The report KPMG drew up is a document that proves our financial development indicators. Our consolidated accounts figures are normally presented to our contractors from abroad, as they are compiled in a way that they are used to. An independent auditor’s report is a proof of SKB-Bank group’s financial records’ credibility,’ the bank’s press officer reports.

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