Ak Bars Bank closed the 1Q of 2019 with a net profit of RUB 1.3 bln according to IFRS, which increased by 10.1% YoY. Return on equity amounted to 7.3%, return on assets was 1.1%.
Operating income (before provision) in the 1Q of 2019 increased by 13.6% to RUB 5.0 bln from RUB 4.4 bln YoY, resulted from the increase in interest income. Net interest income increased by 42.1% to RUB 4.0 bln from RUB 2.8 bln for the same period of the previous year.
Net interest margin in the 1Q of 2019 amounted to 3.9%.
The Bank partially released provision in the amount of RUB 0.2 bln, improving quality of loan portfolio, while in the 1Q 2018 credit loss allowance amounted to RUB 0.4 bln.
Assets increased by 10.2% to RUB 516.0 bln for a stated period.
Corporate loan portfolio increased by 0.2 % since beginning of the year to RUB 140.2 bln
(before provision). Retail loan portfolio increased by 1.6%, to RUB 84.7 bln (before provision).
The total loan portfolio (after provision) in the 1Q of 2019 increased by 0.5%, and amounted to RUB 209.6 bln.
The share of customer accounts in the Bank’s total liabilities amounted to 85.2% as of 31 March, 2019, compared to 90.6% at 31 December, 2018 and 89.5% at 31 March, 2018. Customer accounts increased by 5.0% to RUB 377.9 bln. since the beginning of 2019, corporate accounts increased by 10.5% in the 1Q.
Within the 1Q of 2019 Bank’s equity increased by 2.3% and amounted to RUB 72.5 bln as of 31 March, 2019.