MOSCOW, July 24 (RIA Novosti) - Alfa Bank, Russia's largest privately-owned bank, posted an 82% drop in net profit calculated to Russian Accounting Standards in January-June 2007 to 247 million rubles ($9.7 million), the Central Bank said.
The bank's net profit in the same period of 2006 was 1.4 billion rubles ($55 million), the Central Bank said. Pre-tax profit in the first six months of 2007 dropped 44% year-on-year to 1.2 billion rubles ($47.3 million).
Alfa Bank was established in 1990 and had $15.2 billion worth of assets calculated to International Financial Reporting Standards as of January 2007.
