Analysts have been saying long that Russian banks have covered from the crisis of 1998 and continue to successfully develop. This statement could be called into question – actually, most of Russian citizens do call it into question, while still keeping their money in socks. Stories about mice gnawing these savings seem not to embarrass anybody.
It is not easy to change Russian citizens’ view on Russian banks. Though examples of some banks show that these efforts could result in a success. Let us take the Joint-Stock Commercial Bank ROSBANK. It should be reminded that recently the British magazine The Banker published the list of the 1,000 biggest (as for the stock) banks. To this very authoritative list, 12 Russian banks belong, including ROSBANK.
Now, Russian banks make efforts to render the full set of financial services, and not only to juridical persons (as it was before the crisis of 1998), but to natural persons, too. This is the demand of the time, and ROSBANK responds to this demand. It really renders the full set of services, both to juridical and natural persons.
As for financial showings of the bank activity, it is really successful. The ROSBANK stock which is used for calculation of obligatory economical norms grew by 3 percent since the beginning of the year and made on July 1, 2002, 7,650.04 million rubles (approximately $ 24 678 709.6), while on July 1, 2001 it made 7,338.54 million rubles (approximately $ 244,618,000).
The volume of the bank asset increased since the early 2002 by 9 percent and on July 1, this year it made 80 108.39 million rubles (approximately $ 2,584,141,612), while on July 1, 2001 it made 56,909.27 million rubles (approximately $ 1,896,975,666).
The volume of attracted means of the clients grew since the beginning of this year by 6 percent and made on July 1, 2002 56,310.70 million rubles (approximately $ 1,816,414,193), while on July 1, 2001 it made 38,685.48 million rubles (approximately $ 12,895,160,000).
The balance profit of the bank made on July 1 640.69 million rubles (approximately $ 2,066,451), and it grew 2.8 times in comparison with the same index of last year. Of course, the language of the figures is too dull, though these figures vividly show how successful the activity of the bank is. At least these figures have persuaded the analysts of The Banker. And even not financially experienced people know how complicate it is to persuade Western experts of reliability of Russian banks.
Without emphasizing too much and without immediately bringing our money to the bank, we should notice that every person could estimate the reliability of a bank. To do this, it is enough only to study the reports which are routinely published in the press (including the unspecialized editions, too). Even a surface analysis is enough to understand who is worth to co-operate with and who not. ROSBANK seems to belong to the first. Yevgeny Petrov PRAVDA.Ru
Translated by Vera Solovieva
Read the original in Russian: http://pravda.ru/economics/2002/07/12/44102.html