OREANDA-NEWS. November 9, 2012. Bank Petrocommerce’s net profit for 9 months of 2012 increased by more than 6 times comparing with the same period of 2011 and comprised RUR 2.47 bln.

The Bank’s assets grew by 13.9% to RUR 223.3 bln. ROAA is 1.5% yoy and matches the market-wide average ratio of 2.3%. As before, the growth of the assets is ensured, first and foremost, by lending. Since the beginning of 2012, the retail loan portfolio has gained RUR 5.1 bln or 41.2% (while the overall banking sector’s retail lending growth stood at 29%). The Bank’s corporate loan portfolio growth was 9.6% which matches the dynamics of the market (10%).

In comparison with 9 months of 2011, Bank Petrocommerce’s interest income increased by 32.4% to RUR 12.8 bln, net interest income — by 19.2%, and net fee and commission income — by 6.4%.

Bank Petrocommerce’s equity increased by 12.9% and totaled RUR 24.4 bln while ROAE stood at 12.4%. The equity’s growth was mainly ensured by net income increase.

"Interim financial results witness that the Bank has set a course for the stable growth in the frame of the strategic goals set by shareholders, of which increase of diversification, profitability and efficiency via development in target client and product segments are the key ones", comments Natalia Kolobova, First Vice President of Bank Petrocommerce.