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Gazprombank Profits Up

Gazprombank posted 19.56 billion rubles ($698.93 million) in net profit according to Russian accounting standards for the first half of 2011, the bank said in a statement Thursday.

This was a year-on-year increase of 220 percent from 6.16 billion rubles posted for the first half of 2010.

Total consumer loans increased 25.4 percent to 79 billion rubles while corporate loans went up 0.9 percent to 963.5 billion rubles. Total funds placed in Gazprombank by corporate clients decreased 0.6 percent to 1.18 trillion rubles in the first half. Total individual deposits increased by 9.5 percent to 225.8 billion rubles.


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