MOSCOW, January 16 (RIA Novosti) - A major regional bank in Russia announced Monday that it had almost tripled its assets in 2005 and predicted that it would become one of the country's five leading banks.
Uralsib Bank said its assets were up to 445 billion rubles (about $15.5 billion) as of January 1, 2006 from 158 billion rubles (about $5.5 billion) a year ago.
The bank's assets expanded after the Financial Corporation Uralsib merged its five regional banks into one.
"According to preliminary estimates, Uralsib bank will join the group of Russia's top five banks in terms of key financial indices," the bank's president said.
Uralsib Financial Corporation controls about 89% of the united bank Uralsib. The government of the Volga republic of Bashkortostan has a 9.5% stake and the free float accounts for 1-2% of the bank's shares.
