Bank’s Performance for the 1st Quarter 2008

Bank Saint Petersburg summarized its performance for 1st Quarter 2008 under the Russian accounting standards.

Its total assets grew by 10 percent and amounted to RUB 137,985 million as of April 1, 2008.

The customer accounts, including the debentures in issue, increased by 6.2 percent and reached RUB 108.7 billion.

The loan portfolio including interbank loans enlarged by 18.6 percent to RUB 121.3 billion.

The Bank’s balance sheet profit for the 1st Quarter 2008 accounted for RUB 1,039 million.

The shareholders’ equity amounted to RUB 18,528 million as of April 1, 2008.

By the results of its performance in the 1st Quarter 2008, the Bank became the 2nd among the local banks in terms of its mortgage loan portfolio, according to the St. Petersburg Mortgage Agency (3rd place in 2007).

In the 1st Quarter 2008, the Bank issued its 500,000th card. As of April 1, its card acceptance network included 329 ATMs (in particular, at all St. Petersburg Metro stations) and 1,395 POS-terminals at the merchant’s outlets.

The Supervisory Board of Bank Saint Petersburg resolved to rearrange its organizational structure. The Bank’s outlets, which are now subordinated directly to its branches, will get the status of an independent structural unit. So, in the near future the Bank’s network will consist of 31 outlets in St. Petersburg and 5 branches in other Russian cities. Such rearrangement is aimed to improve and optimize the Bank’s organizational structure and rise efficiency of its decision making process.