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2011 April 7   09:47

Marine Bank posts Q1 strong financial results

Pre-tax income of Marine Bank in the first quarter of 2011 increased as much as five times (according to RAS) from the same period of 2010, to RUB 146 million, the Bank’s press-service reports. The strong financial result was due to an increase in income from lending of legal entities and individuals, other income from banking operations.

The amount of Marine Bank’s capital, calculated by the Bank of Russia amounted to 1.8 billion rubles. The total balance rose as much as 64%, reaching RUB 20 billion. Net assets also increased by 64% to RUB 16 billion. Bank's loan portfolio amounted to RUB 9,4 billion.

"This year we are going to continue actively supporting the real economy - the sea and river transport, as well as to expand in all regions of Russia," said the Marine Bank Board Chairman Igor Dergunov.

Marine Bank serves the companies of the sea and river transport industry. General License of the Bank of Russia № 77 is dated March 29, 1989. The Bank has its offices in St. Petersburg, Novorossiysk, Vladivostok, Kaliningrad, Murmansk, Nakhodka and Volgograd. In 2010, the Bank increased its pre-tax income by 24% to RUB 156 million. The capital of the Bank, calculated by the Bank of Russia for the year amounted to RUB 1,7 billion.

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