Financial results for the previous years offer the best evidence of the Bank’s operational efficiency. According to the Boston Consulting Group 2007 survey of Central and Eastern European Private banking sector, assets under management (starting with individual portfolios of US $100 000) rose by 30% in Russia in 2007. Assets under management of Bankhaus Erbe grow at a much faster pace.

As of 31st of December 2007:

Balances of household accounts and deposits

Went up 1,5 times, in comparison with the year 2006 and 3,3 times compared to the year 2004 as a successful outcome of private banking services provided for current and new clients.

Corporate account balances

Went up 1,4 times in comparison with the year 2006 and 1,9 times in comparison with the year 2004 resulting from attraction of new clients, balanced marketing policy and individual approach to our clients.

Loans and advances to customers, less allowance for possible loan losses

Went up 1,2 times in comparison with the year 2006 and 1,9 times in comparison with the year 2004 as a result of the growth of the volume of deposits with the Bank, and amount of our large corporate borrowers and their industrial diversification, as well as the broadening of the range of lending products.

Net profit

Went up 1,2 times in comparison with 2006 and 1,7 times in comparison with the year 2004.

Assets of the Bank made US$ 137 200 thousands, Corporate accounts balances and Deposits of individuals made US$ 40 274 thousands and US$ 47 392 thousands respectively, Net loans were equal to US$ 75 511 thousands as of June 30th 2008.

The following Table shows the growth of major figures of the Bank as of June 30th 2008, compared to the data as of June 30th 2007 and 2006.

$, thousands

 

 

As of June 30th 2008 compared to December 31st 2007 the growth of Assets and Clients’ accounts balances made 143% and 123% respectively.