MDM Continued Strong Performance in 1Q 2005

29.07.2005 00:00

Moscow, 29 July 2005 - MDM Financial Group published its consolidated IFRS financial statements for the first quarter of 2005, which were reviewed by KPMG. For the three month period, MDM reported net profit after tax of US$ 24.3 million.

Other highlights included:

* Pre-provision net interest income increased by 16.4% to US$ 57.5 million compared to US$ 49.4 million for 1Q 2004
* Return on average equity (annualised) of 12.9%
* Return on average assets (annualised) of 2.2%
* Total assets grew by 3.4% to US$ 4.54 billion compared to US$ 4.39 billion as of YE 2004 (excluding large short-term client deposit at the end of 2004)
* Total shareholders' equity* increased by 2.8% to US$ 760.3 million compared to US$ 739.4 million as of YE 2004
* Operating expenses remained largely flat, growing by 2.9% to US$ 42.1 million from US$ 40.9 million for 1Q 2004
* Tier one capital ratio stood at 19.4 % as at 31 March 2005 (YE 2004: 17.8%)

19.01.2007 14:42

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