01.12.2015, 22:24
CREDIT BANK OF MOSCOW Reports Its RAS Results for 3Q2015
OREANDA-NEWS. CREDIT BANK OF MOSCOW has reported its results for the three quarters of 2015 in accordance with Russian Accounting Standards (RAS).
The Bank's net income for the 9 months of 2015 amounted to RUB 166 mln (9M2014: RUB 5.8 bln). This drop was mainly due to the high cost of funding (interest expense grew by 88% yoy to RUB 43.4 bln), and an increase in provisions (they grew by 69% yoy to RUB 14.3 bln), which is in line with current trends in the banking sector.
The Bank's total assets rose by 74% ytd and as of 1 October 2015 reached RUB 995.9 bln, of which 81% represent net loans to customers and 13% - investments in securities. CREDIT BANK OF MOSCOW ranks 12th by total assets among Russian banks (Interfax-100) and is one of the 5 largest privately-owned banks as at 3Q2015.
The Bank's loan portfolio before impairment provisions expanded by 58% ytd and stood at RUB 622.8 bln as at the reporting date, of which RUB 499.3 bln are attributable to the corporate loan portfolio (+86%) and RUB 123.5 bln to the retail loan portfolio (-2%).
Customer deposits increased by 77% to RUB 721.8 bln ytd, mainly due to a 119% expansion of corporate deposits that grew to RUB 534.9 bln. Retail deposits grew by a more moderate 15% in the reporting period up to 186.9 RUB bln.
The Bank's equity as of 1 October 2015 was RUB 112.7 bln, a 39% growth ytd. Capital adequacy ratios calculated in accordance with Basel 3 (395-P) as of 1 October 2015 remained at comfortable levels: N1.1 - 7.97%, N1.2 - 7.97%, N1.0 - 14.66%.
The Bank's branch network consists of 57 offices and 21 stand-alone cash desks in and around Moscow. Its network of payment banking devices counts 887 ATMs and over 5,220 payment terminals.
The Bank's net income for the 9 months of 2015 amounted to RUB 166 mln (9M2014: RUB 5.8 bln). This drop was mainly due to the high cost of funding (interest expense grew by 88% yoy to RUB 43.4 bln), and an increase in provisions (they grew by 69% yoy to RUB 14.3 bln), which is in line with current trends in the banking sector.
The Bank's total assets rose by 74% ytd and as of 1 October 2015 reached RUB 995.9 bln, of which 81% represent net loans to customers and 13% - investments in securities. CREDIT BANK OF MOSCOW ranks 12th by total assets among Russian banks (Interfax-100) and is one of the 5 largest privately-owned banks as at 3Q2015.
The Bank's loan portfolio before impairment provisions expanded by 58% ytd and stood at RUB 622.8 bln as at the reporting date, of which RUB 499.3 bln are attributable to the corporate loan portfolio (+86%) and RUB 123.5 bln to the retail loan portfolio (-2%).
Customer deposits increased by 77% to RUB 721.8 bln ytd, mainly due to a 119% expansion of corporate deposits that grew to RUB 534.9 bln. Retail deposits grew by a more moderate 15% in the reporting period up to 186.9 RUB bln.
The Bank's equity as of 1 October 2015 was RUB 112.7 bln, a 39% growth ytd. Capital adequacy ratios calculated in accordance with Basel 3 (395-P) as of 1 October 2015 remained at comfortable levels: N1.1 - 7.97%, N1.2 - 7.97%, N1.0 - 14.66%.
The Bank's branch network consists of 57 offices and 21 stand-alone cash desks in and around Moscow. Its network of payment banking devices counts 887 ATMs and over 5,220 payment terminals.
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