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Bank Vozrozhdeniye, one of Russia's top thirty banks, said on Wednesday
Bank Vozrozhdeniye, one of Russia's top thirty banks, said on Wednesday its net profit under Russian Accounting Standards increased 125% in January-September from a year ago to 2.7 billion rubles ($100 million).

Pre-tax profit more than doubled in the reporting period to 3.7 billion rubles ($137 million) and the value of its assets grew 37% to 137 billion rubles ($5 billion), the bank said in a statement.

"The conservative strategy of work based on a considerable share of highly liquid assets on the bank's balance sheet has proved to be fully justified. Despite a considerable deterioration of the general economic situation in the third quarter of this year, the bank both continued the provision of full-fledged services to all its clients and achieved very sound financial results," Vozrozhdeniye Board Chairman Dmitry Orlov said.

Founded in 1991, Bank Vozrozhdeniye services over 55,000 corporate and 1.2 million retail clients, offering a wide range of banking services, including deposit accounts, asset management, financing, mortgage lending and card services.


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