Gazprombank Announces Dividends

Gazprombank will pay RUB 115 (approx. USD 4.87) per common share, or a total of RUB 2.3bn (approx. USD 97m) as dividend for 2007, the Russian lending organization said in a statement, referring to a corresponding decision made at an annual general meeting of shareholders.

The bank's net profit after tax and other mandatory payments reached just shy of RUB 15.324bn (approx. USD 649m). A total of RUB 379m (approx. USD 16m) of that sum was allocated to the reserve fund, while retained profits amounted to RUB 12.645bn (approx. USD 535m).