Based on November’s performance, Bashkortostan-based Investcapitalbank upsized its equity capital, which topped Rub 1 bln as of December 1, the lending institution said in a press release. “This has been the third increase of the bank’s equity in 2008, which underscores its shareholders’ commitment to business expansion” — board chairman Shamil Ibragimov pointed out. The lender’s profit rocketed 2.5 times q-
At present, the lending institution’s aggregate deposits are roughly Rub 4 bln. The bank ranks among the Top 10 in the Urals region. Higher equity will give the lending institution a shot in the arm in terms of business expansion. This October the lender opened a second branch in Sterlitamak and the plan is to launch new branches in Ufa and Kazan by the end of the year. At present, the bank’s network of sales offices consists of 41 branches in the republics of Bashkortostan, Tatarstan, Perm, Chelyabinsk and Tyumen regions, the press service reported.
According to the data from news agency Banki.ru and Interfax-CEA, as of July 1, 2008 net assets of Investcapitalbank stood at Rub 6.89 bln (225th place in Russia). The lending institution is a member of the national deposit insurance system.
