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Gazprombank posts 190% rise in 2006 IFRS net income, to $1.3 bln

Gazprombank, a subsidiary of Russian energy giant Gazprom, said Monday its consolidated net income, calculated to International Financial Reporting Standards (IFRS), increased 190%, year-on-year, in 2006, to $1.3 billion.

Gazprombank, whose client base includes about 2 million retail clients and over 36,000 corporate entities, said its banking segment's profit totaled $637.6 million, with net interest income doubling to $467.9 million and non-interest income rising 40% to $1.2 billion. “That growth was especially attributable to a considerable increase in the bank's fee income and also growth in income from operations with securities,” Gazprombank said in a statement. (