MOSCOW, November 21 (RIA Novosti) - The board of directors of Gazprombank may approve a development strategy up to 2015 by the end of the year, including a possible IPO, Alexander Sobol, the bank's deputy chairman, said on Wednesday.
He also said the main banking arm of Gazprom [RTS: GAZP] had a net profit of $700 million by International Financial Reporting Standards (IFRS) in the first six months of 2007. The figure is approximately the same as last year's result.
The deputy chairman added that the bank planned to spend around $500 million of its 2008 budget on the acquisition of regional banks in Russia and other CIS countries.
