Bloomberg News

Gazprombank Says 2011 Profit Tripled as it Details New Investors

January 16, 2012

Jan. 16 (Bloomberg) -- OAO Gazprombank, the lending arm of Russia’s biggest gas producer, said net income almost tripled in 2011 as the company boosted profit from interest and commissions and sold investments.

The Moscow-based lender’s earnings rose to 39.2 billion rubles ($1.2 billion) last year, from 14.5 billion rubles in 2010, Gazprombank said in an e-mailed statement. Loans to businesses and individual customers rose by 34 percent to 1.4 trillion rubles, according to the bank.

In a separate statement, the lender detailed a list of new stockholders once it completes a new share issue.

Pension fund Gazfond will hold 47.38 percent of the bank’s shares, while state gas monopoly OAO Gazprom’s stake will decrease to 35.54 percent, the statement said. VEB, Russia’s state development bank, will hold 10.19 percent and OOO Novye Finansovye Tehnologii’s portion will be cut to 6.18 percent.

Private groups will hold 0.71 percent of Gazprombank, according to the statement said.

--Editor: Emma O’Brien

To contact the reporter on this story: Marina Sysoyeva in Moscow msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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