OREANDA-NEWS. May 05, 2014. In 1Q2014 the capital of Nordea Bank Russia (the ‘Bank’) grew y-o-y by 11% up to RUB 30.3 bn while its assets increased by 39% up to RUB 307.1 bn.

The total loan portfolio rose by 26% up to RUB 242.9 bn. The corporate loan portfolio amounted to RUB 193.2 bn (a 30% rise y-o-y) while retail loan portfolio grew up to RUB 22.4 bn (a 24% rise y-o-y).

Net profit of the Bank (as of 01 April 2014) stood at RUB 1.0 bn.

Igor Bulantsev, Chairman of the Management Board of Nordea Bank Russia, said, ‘We continue to pursue our prudent growth strategy and to raise business efficiency. We steadily raise quality of our work focusing, in particular, on simplification. Such approach bears its fruits: the bank’s 1Q2014 profit grew year-on-year regardless of the market situation which has not improved recently. Over the year the bank managed to raise its loan portfolio and at the same time strictly adhered to a conservative risk management policy. The bank’s non-operating expenses are stable regardless of the inflationary pressure. At the same time the bank continues to invest in further development of bank systems and business processes and - most importantly – in raising quality of services offered to our customers.’