EDB increases assets 12% in H1, net profit down 31%
ALMATY. Aug 7 (Interfax) - Eurasian Development Bank (EDB) increased its IFRS (international financial reporting standards) assets by 11.7% to over $3.17 billion in the first half of 2012, the bank said on Tuesday.
EDB's net profit in the first half came to $9.4 million, down 31% year-on-year. Total revenue grew by 16% to $15.7 million while equity expanded by 0.9% to $1.6957 billion.
The bank's obligations increased by 27% to $1.474 billion. The bank's total issued debt bonds went up by 30% to $1.3537 billion rubles. Total loans presented to EDB clients rose by 4% to $1.397 billion
Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB's charter capital exceeds $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.