The Federal Agency for Federal Property Management (FAFPM) said that it has planned to sell 0.13% stake in Investbank Joint Stock Commercial Bank at a public auction as a single lot with the initial bid of RUB 3.98 million. FAFPM has set at RUB 19.007 million at an auction to sell a state-owned equity stake (0.08%) in JSC TransCreditBank. The initial bid, as reported earlier, was set at RUB 38.01 million. Also, 1,903,000 common registered stocks of TransCreditBank will be put up for sale.

Investbank Joint Stock Commercial Bank reported earnings results for the six months ended June 2011. For the period, the company's net profit increased 76% on the year to RUB 78.976 million, as calculated under Russian Accounting Standards (RAS). The bank's pretax profit rose 64% on the year to RUB 238.721 million, while the interest income amounted to RUB 2.790 billion, up 24% on the year.