URSA Bank came up with a financial report for the first half of 2008; the report has been drawn up in accordance with the International Accounting Standards.

The bank’s assets rose by 1.3 times over one year and reached $8.1bn in January-June 2008. The bank’s own funds increased by 1.5 times and amounted to $1.29bn on July 1, 2008.

URSA Bank’s revenues came to $96.8m, which exceeds the figures for a year earlier by 1.6 times. This is actually an indicator of a 19.9% ROE and a 2.7% return on assets, which are rather good figures for the banking sector.

URSA Bank’s net lending portfolio reached $5.2bn on July 1, 2008, which was 1.3 times better than a year earlier.

The bank’s customers had invested a total of $2.7bn in the bank by July 1, 2008, which exceeded the figures for a year earlier by 1.5 times. In fact, more than $378m were placed with the bank in the first half of 2008 alone.

‘The fact that URSA Bank’s deposit resources keep growing despite the global financial problems means that the bank is a dependable partner for both its customers and investors. Our customers trust us because our liquidity is more than plentiful, whereas our capital adequacy index is twice the number the Basel Committee requires,’ says URSA Bank’s First Deputy GD Vladislav Khokhlov.

In addition, the bank’s expenses/operating profit ration came to 42%, which means the bank has been able to manage its resources effectively and to build up on its profits stably.