MOSCOW, April 28 (RIA Novosti) - Svyaz-Bank said Friday its net assets had declined by 7% to just under $1.1 billion in the first three months of the year.
The decline was due to portfolio adjustment and financial restructuring, the bank's press service said.
The bank said it had equity capital of $113 million as of April 1. Pre-tax earnings increased by 320% year on year, to $4.4 million in January-March.
Svyaz-Bank, listed by the Central Bank among Russia's top 30 banks in terms of assets, has as its main shareholder RTK-Lizing (94.11%). Other shareholders include telecommunications giants Rostelekom and Svyazinvest and other telecoms companies, as well as the Federal Property Agency.
