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Uralsib Bank [RTS: USBN] said on Wednesday its net profit calculated
Uralsib Bank [RTS: USBN] said on Wednesday its net profit calculated to International Financial Reporting Standards declined 50%, year on year, in 2007 to 2.6 billion rubles ($108 million).

"Net profit decline resulted from net losses in the first half of last year due to a revaluation of our securities portfolio and a related increase in taxes. Profit in the second half of the year compensated for these losses and ensured the receipt of net profit for the year as a whole," Andrei Donskikh, the bank's chief executive, said.

Donskikh said the bank's assets in the reporting period grew by about 25% to 360 billion rubles ($15 billion).


Print Uralsib Bank [RTS: USBN] said on Wednesday its net profit calculated Bookmark Uralsib Bank [RTS: USBN] said on Wednesday its net profit calculated

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