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THE AVTOBANK WILL PAY DIVIDENDS FOR 1997 G AT A RATE OF 10 PERCENTS AND WILL INCREASE

				
				
				
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THE AVTOBANK WILL PAY DIVIDENDS FOR 1997 G AT A RATE OF 10 PERCENTS AND WILL INCREASE
THE AUTHORISED CAPITAL BY 2001 TO 1 MLRD RBL.
      Moscow, on April, 22nd. A/PRIME-TASS/. Meeting of shareholders
The Avtobank was made by the decision to pay following the results of 1997
Dividends of at a rate of 10 percents on rouble actions face value 100
Roubles to finish by 2001 ustavnyj the capital to 1 mlrd rub and
To organise the reference of actions in the internal share market. About
It it is spoken in the press release extended following the results of
Meetings of shareholders of the "Avtobank" which has taken place on April, 21st.
     The meeting of shareholders also has made the decision on joining
To Avtobank of Bryansk national bank and AMO-BANK Moskva/.
      The meeting of shareholders has selected the bank supervisory board in
Quantity of 11 persons. The chairman of the supervisory board
Nikolay Pugin is again selected, by a member of council the second time is selected
Frensis Read - the representative of the European Reconstruction and Development Bank.
      The bank is intended to expand client base, to increase a network
Branches and branches in Moscow and regions to create branch in
Each dynamically developing region Russian Federation to participate in
Governmental, economic and social programs,
Especially in regions where there are Avtobank branches.
      In 1997 g the filial network continued to develop and on
The end of year the Avtobank had 17 branches and 20 branches. For a year
It has been opened 3 branches and 5 Moscow branches. Bank
Directed a considerable part of means for new technologies,
Upgrade, capital construction. On these purposes was
It is allocated 124,8 mlrd not denominated rub, including on
Modernisation 37,2 rub, on development of the filial
Network and branches - 27,5 mlrd rub, on building reconstruction
The main office - 21,4 mlrd rub, on building of a new building
- 21,8 mlrd rbl.
      As already reported the PRIME-TASS, balance currency
Avtobank has increased for 1997 with 6,9 trln rub to 9,6 trln
rub or nearly so on 40 percents the profit in the sum 562,9 mlrd Is received
The rbl. for January, 1st, 1998 has made Own capital of bank
1,9 trln rub also has increased for a year on 0,4 trln rub/24 percents /
      The credit portfolio of Avtobank on the end of year has reached 4,3
trln rbl. the Total sum of the credits which have been given out by the industrial
To sphere and sphere of services, has made on the end of year 970 mlrd rbl.
      The Avtobank within a year continued to work with Gorki
Car factory and volume of the calculations provided with financial schemes
With use of bills of bank has exceeded 2,5 trln rbl. Bank
Gave out credits to the Pension fund of Russia and its regional
To branches. The debts rest for January, 1st, 1998
Has made 1,2 trln rbl. of All for a year bank has given out 98 mlrd rub
Investment credits, among which the credits which have been given out on
Reconstruction and modernisation of the trading house
"Central Department Store", re-equipment of capacities Novgorod
The meat house which are a part of Cherkizovsky agrarian and industrial complex,
Acquisition of the hotel equipment for hotel "Mariott
Grand hotel ".
     The volume of investments in securities on the end of year has made 2,9
trln rub or 31 percents of a total sum of actives. Incomes of operations with
Them have made 852 mlrd rbl.
      For today into number of shareholders of Avtobank enter
416 physical and the legal bodies, largest of them -
"Ingosstrah" - 17,9 percents of actions and the European bank
Reconstruction and developments - 8 percents of actions.
      The Avtobank is registered 06.12.88 g has licence N2423
From 27.09.95 Now ustavnyj the bank capital
Makes 563,5 million rbl. - 0 - ag/oa
//* an information Source: the Prime-TASS, 22.04.98
//* Reg. Nom. - 1080400204.83-------------------------------------------