The London arm of Russian investment bank Otkritie Capital enjoyed a 222% increase in revenues during the course of 2011, according to accounts seen by Financial News, primarily due to a significant expansion in activity from the bank’s prime brokerage clients.

Otkritie Securities Ltd reported a significant hike in its operating profit, before exceptional items, from £1.4m in 2010 to £11m in the year ended on 31 December 2011, according to a letter to shareholders from the division's chief executive, Howard Snell.

Otkritie Capital enjoys revenue surge in London

Otkritie Capital, the Russian investment bank, defies a series of staff departures, alleged fraud and weak capital markets activity to report a 2011 profit surge

Matthew Attwood

London Stock Exchange

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