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Alfa Bank posts 80% y-o-y increase in net profit in 10M06

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MOSCOW, November 27 (RIA Novosti) - Russia's Alfa Bank said Monday its net profit grew 80% year-on-year in January-October 2006, to 4.726 billion rubles ($178 million).

Pre-tax profit reached 5.949 billion rubles ($224 million) in the first ten months of 2006, also gaining 80% year-on-year.

Established in 1990, Alfa Bank is Russia's largest privately-owned bank.

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