OREANDA-NEWS. January 28, 2013. Bank Vozrozhdenie summarized preliminary results of 2012 (except for the events after the reporting date). As of January 1, 2013, assets before provisions for loan impairment came in at more than Rub 220 bln; the bank’s equity grew up to Rub 23.4 bln (in accordance with the CBR Regulations). Thus, in 2012, the bank’s assets and equity gained 14% and 18% respectively, reported the press-centre of Bank Vozrozhdenie.    

“We regard 2012 results as positive,” noted Alexander Dolgopolov, Chairman of Management Board. “Our strong position was highly recognized by the international rating agencies, Moody’s and Standard&Poor’s, which affirmed our credit ratings with the “Stable” outlook. We started 2013 with traditionally strong funding base that would allow us to meet the loan demand and provide confidence amid anticipated liquidity deficit. Moreover, the second tranche of subordination will support the planned loan portfolio expansion.”

During 2012, the bank’s corporate loan book added 10.7% and stood well above Rub 124 bln with the major part of the loans represented by SME- and micro-loans.

In 2012, the bank was active in issuing new retail loans and its portfolio added up 34.8% compared to the same period of 2011. On the basis of RAS where two securitization deals are excluded from the retail loan book, it grew by 24.8% YoY to Rub 25.6 bln with mortgages comprising Rub 15 bln of them. Volume of new retail loans issuance during the year increased by 15.3% to Rub 18.1 bln including Rub 12 bln of new mortgages.

Client funds advanced 14.6% in 2012 compared to the same period of the previous year. Corporate customer accounts were up 20% YoY reaching Rub 66 bln. Retail customer accounts grew to more than Rub 100 bln by the end of 2012. Retail deposit portfolio added up 12.9% YoY to Rub 80.5 bln. In absolute terms, funds raised from individuals grew by Rub 9.2 bln in 2012.

In 2013 Bank Vozrozhdenie will concentrate its efforts on further optimization of banking technologies and centralization of back-office functions as well as implementation of new IT-decisions and technologies of remote client services. Following its consistent risk management policy the bank will continue business expansion within its core niches, servicing daily needs of SME and retail customers.