There’s an increase in retail lending in the first half of the year resulted from growth of customer loans and credit cards. Positive dynamics is demonstrated by the growth in the volume of customer accounts.» — commented Alexander Melenkin, Deputy Chairman of the Management Board of Ak Bars Bank.
Ak Bars Bank closed the 1H of 2019 with a net profit of RUB 3.3 bln. exceeding YoY indicator by 6.6% according to International Financial Reporting Standards. The increase in profit in 1H 2019 was predicated by an increase in net interest income (before provision) by 39.6% compared to the same period last year — to RUB 7.7 bln.
The return on equity of the bank amounted to 9.1%, return on assets was 1.4%. Net interest margin in the first half of 2019 amounted to 4.0%.
Provision amount decreased by almost twofold to RUB 0.5 bln.
As of 30 June, 2019 the bank’s assets amounted to RUB 469 bln. The bank’s loan portfolio (before provision) at the end of the first half of the year amounted to RUB 216 bln. Loans to small business increased by 3.1% from the beginning of the year to RUB12.6 bln.
The retail loan portfolio also increased by 2.6% to RUB 85.5 bln. This was encouraged by an increase in the number of consumer loans by 13.7% and plastic cards by 143.1%.
Customer accounts for the first half increased by 3.1% and amounted to RUB 371.2 bln at the end of the reporting period. The growth was provided by an increase in corporate accounts by 5.8% to RUB 260.2 bln. Individuals accounts decreased by 2.7% from the beginning of the year to RUB 111 bln as of 30 June, 2019.
In the first half of 2019, Ak Bars Bank increased its equity by 6.3% to RUB 75.3 bln.
