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Bank of Moscow pre-tax profit rises 46% in 1H06

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MOSCOW, July 26 (RIA Novosti) - The Bank of Moscow said Wednesday its pre-tax profit calculated to Russian Accounting Standards rose 46% year-on-year in the first half of 2006 to 3.8 billion rubles (about $140.7 million).

The Bank of Moscow, a full-service commercial bank operating nationwide and offering a comprehensive range of services to domestic and foreign corporate and retail clients, said its assets had grown 37% to 302.6 billion rubles (about $11.2 billion).

The bank, which is majority-owned by the Moscow government, said its shareholder equity calculated under the Central Bank's methodology had expanded 8% to 29.9 billion rubles (about $1.1 billion) as of July 1, 2006.

The Bank of Moscow, which is on a list of the country's top 30 banks published by the Central Bank, said its portfolio of loans to corporate and retail clients had risen 27% in the period under review to 205.2 billion rubles (about $7.6 billion).

In the period under review, the number of the bank's corporate clients rose 8% to 85,000 and the number of its private clients grew 14% to 6.5 million.

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