Ak Bars Bank reported RUB 3.3 bln. net profit for 1H 2019 according to IFRS

29.08.2019
«The key financial indicators of the bank for the first half of 2019 increased as a result of growth in net interest income. This became an evidence of the improvement in the efficiency of core banking business.

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.
Ак Барс Банк

39,6%

Growth of net interest income
Ак Барс Банк

6,6%

Growth of net profit

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.

Ак Барс Банк

Ак Барс Банк

Ак Барс Банк

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29.08.2019
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
30.05.2019
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.