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    Alfa-Bank 2010 net profit up 620% to $553 mln

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    Net profits at Russia's largest private bank, Alfa-Bank, jumped 620% in 2010 to $553 million to IFRS, it said on Monday.

    Net profits at Russia's largest private bank, Alfa-Bank, jumped 620% in 2010 to $553 million to IFRS, it said on Monday.

    Revenues edged down 7.9% year-on-year to $2.32 billion, the bank said in a statement.

    Assets grew 31.6% to $28.4 billion, while the bank's overall capital rose 14.1% to $3.079 billion.

    In 2010, Alfa-Bank boosted its corporate portfolio by 23.7% to $15.9 billion, while its retail loan portfolio increased 8.7% to $2.2 billion. Alfa-Bank's provisions against losses fell 8.2% to 1.3 billion.

    Liabilities rose 34% to $25.4 billion, while current accounts and clients' deposits grew 22.9% to $16.8 billion.

    MOSCOW, April 11 (RIA Novosti) 

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