MOSCOW, May 18 (RIA Novosti) - Ak Bars Bank said Thursday its assets grew 8% in the first quarter of 2006 to 78.29 billion rubles (about $2.8 billion).
Ak Bars Bank, located in the Volga republic of Tatarstan, said its assets had grown 77% from April 1, 2005 to April 1, 2006.
Shareholders' equity rose 3%, year-on-year, in the first quarter of 2006 to 9.86 billion rubles ($365 million).
The value of net outstanding loans grew 79% over the year to 53.34 billion rubles ($1.9 billion) as of April 1. The value of household deposits increased 46% to 12.26 billion rubles (about $453 million).
Ak Bars Bank, with a charter capital of more than 8 billion rubles (about $296 million), is on a list of the country's top thirty banks in terms of assets. Tatneft, a leading oil company owned by the government of Tatarstan, is one of the bank's key shareholders, holding 29.46% of the stock.
