Gazprombank boosts Q1 IFRS profit 31%
MOSCOW. Aug 30 (Interfax) - Gazprombank boosted net profit to International Financial Reporting Standards (IFRS) 31% year-on-year in H1 2011 to 30.988 billion rubles, gas giant Gazprom , which owns 44% of the bank, said in an earnings report.
Gazprombank, Russia's third largest by assets, according to the Interfax-100 ranking at the end of Q1 2011, had assets of 2.016 trillion rubles as of March 31, up 14.6% from the same date last year, Gazprom said in the report.
Liabilities as of the end of Q1 2011 stood at 1.78 trillion rubles, up 15.4% from a year previously.
Gazprombank is controlled by Gazfond's management company, Lider, which is part of the SOGAZ insurance group under the control of Rossiya Bank (main beneficiaries - Yury Kovalchuk, Dmitry Gorelov, Gennady Timchenko and Alexei Mordashov).
Gazprombank's management owns 0.87%.
Gazprombank was third biggest bank in Russia by assets at the end of the first half of 2011 according to the Interfax-100 ranking, compiled by the Interfax Center for Economic Analysis.