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Gazprombank net profit rises 60% in 8M06 to $507 mln

MOSCOW, September 15 (RIA Novosti) - Gazprombank, a subsidiary of Russian energy giant Gazprom [RTS: GAZP], said Friday its net profit rose 59% year-on-year in the first eight months of 2006 to 13.7 billion rubles ($507 mln).

The bank's pretax profit in the reporting period was at 19.3 bln rubles ($715 mln), up 69% on the same period of last year.

Gazprombank is Russia's third largest bank by assets, valued at 575.2 bln rubles ($22 bln) as of September 1, 2006, up 32% since January 1, 2006.

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