OREANDA-NEWS. April 17, 2014. Sviaz-Bank (Vnesheconombank Group) has totaled up its performance in the first quarter of 2014 in accordance with the Russian Accounting Standards (RAS).

According to management balance sheet entries as of April 1, 2014, the Bank’s net assets had grown to 331 billion rubles, or 17% above last year’s figure.

The Bank’s equity (capital) calculated as required by the Bank of Russia in its Directive No.395-P, Methodology for Assessing the Equity (Capital) of Lending Institutions (Basel III), December 28, 2012, worked out at 40.9 billion rubles. The adequacy rate N1.0 of the Bank’s equity (capital) on the reporting date was 11.72%, as compared to the minimum 10.0% required by the Bank of Russia.

Over three months of 2014, the Bank made a net profit of 453 million rubles (down from 507 million rubles on April 1, 2013). The Bank’s net interest income reached 2.7 billion rubles (up from 1.8 billion rubles on April 1, 2013), and its net operating income came out at 2.9 billion rubles (up from 2.4 billion rubles on April 1, 2013).

Lending to individuals developed at the fastest rate among the Bank’s operations. The portfolio of loans to individuals reached 51.3 billion rubles, or 54% more than it was on April 1, 2013. The Bank’s mortgage portfolio registered a high growth rate – toward the end of the first quarter, it had 40 billion rubles, including 27.7 billion rubles under the Military Mortgage program, a 50% increase since April 1, 2013 and almost four times as much since April 1, 2012, not least through the Bank’s interest rate policy, improvements in the mortgage product line, and liberalization of some borrowing rules.

As a result, Sviaz-Bank was named among leading banks issuing mortgages to members of the Russian public.

There also has been an increase in the share of retail customers in the total amount of funds accepted on deposit by the Bank. At the end of the first quarter of 2014, the deposits in personal current and time deposits had risen to 29.7 billion rubles, or 39% more than the deposits were on April 1 of last year.

The total portfolio of corporate loans, including loans to legal entities and self-employed entrepreneurs, had increased by 18.5% to 144.5 billion rubles from the same period of last year. In the first quarter of 2014, the Bank made loans totaling almost 46 billion rubles to the FSUE Post of Russia, the SDS, GAZ,and Sinergia groups of companies, and to Kristall Production Association OJSC, the State Transport Leasing Company (OJSC), and the Irkutsk Electric Power Network Company (OJSC), among others.

The balances in the deposit accounts of legal entities showed 91.8 billion rubles on the reporting date.

Sviaz-Bank’s duty is, as it has always been, meeting the needs of its customers – big corporations, small and medium enterprises, its partner companies and their employees, and members of the public – in high-quality banking services.

The Standard & Poor’s rating agency has named Sviaz-Bank among 13 most significant banks in the Russian banking system that have S&P ratings.