OREANDA-NEWS. According to analysts, "RIA Rating", Bank URALSIB recently demonstrated increased profitability that supports the rating of the Bank. In the first half net profit amounted to 1.1 billion rubles, which is 4 times as much of the first half of 2013.

The increase in profitability was due to growth in the interest margin, the increase in net Commission income, as well as due to the decrease in personnel costs as a result of implementation of the strategy to improve operating profitability. The growth in net earnings came despite a noticeable increase in provisions for possible loan losses (3.8 billion in the current year against 901 million rubles in the first half of 2013). The amount of liquid assets corresponds to the scale of the Bank's business, and in General URALSIB Bank has taken a conservative approach to managing liquidity, which is a factor supporting the rating. In particular URALSIB Bank acts as an active net lender in the interbank market. As noted in the Agency, one of the key factors positively influencing the rating of the Bank URALSIB, is a large-scale activity that, if necessary, increases the likelihood and amount of potential support from the government and the major counterparties of the Bank. In addition, according to the "RIA Rating", Bank URALSIB can get support from the main shareholder.