Promsvyazbank, ranked by the Central Bank among Russia's top 30 banks, attributed the rapid growth to expansion in the bank's corporate and retail business.
"The profit increase is due to considerable growth in the bank's corporate and retail business, which resulted in a rise in interest and fee income," the bank said.
The bank's assets gained 63% in the reporting period to 181 billion rubles (about $6.8 billion) while shareholder equity climbed 90.8% to 20.1 billion rubles (about $758.5 million), Promsvyazbank said.
Promsvyazbank is controlled by the Ananyev brothers, who also have holdings in information technology, media, insurance, industrial companies, and real estate.
Commerzbank Auslandsbanken Holding AG, a subsidiary of Germany's Commerzbank AG, holds a 15.32% stake in Promsvyazbank.
