17:16, 6 May 2009 Page views 244 views

Funds at Individuals Accounts in URALSIB Bank Grew by 13.4%

(no votes)

URALSIB Bank reported on its financial results of Q1, 2009, under Russian Accounting Standards (RAS). On March, 31, 2009, customer accounts amounted to RUR210.4 billion, demonstrating minor dynamics compared with the beginning of the year. Individuals accounts increased to RUR72.5 billion (13.4% growth); in particular, term deposits of individuals grew by 20.6%.

Net loss of the Bank reached RUR1.7 billion during January-March 2009 vs net income of RUR1.7 billion within the same period of 2008. Considerable expenses on allowances for impairment for loan losses (RUR3.6 billion) in the reporting period became a key factor, which influenced negatively financial results of Q1, 2009. However, the Bank showed positive financial results totaling RUR194 million in March, 2009. The Bank's financial results before allowances for impairment and taxes amounted to RUR2 billion in Q1, 2009, thus displaying steady growth vs the previous reporting quarters.

Net interest income amounted to RUR4.7 billion, net fee and commission income – RUR1.5 billion during 3 months of 2009. During the reporting period net operating income of the Bank reached RUR2.8 billion, net gains from securities – RUR154 million and net gains from foreign currencies – RUR550 million.

From December, 31, 2008 to March, 31, 2009, the Bank's assets remained at the previous level of RUR426.6 billion. The loan portfolio reduced to RUR237.4 billion (by 10.3%) from the beginning of the year. At that loans to individuals shrank insignificantly to RUR82 billion (by 0.8%), loans to corporate clients – to RUR155.4 billion (by 14.6%).

URALSIB Bank’s asset structure underwent qualitative positive changes in regards to the Bank's liquidity. Loan portfolio/ customer accounts ratio also decreased to 113% on March, 31, 2009, vs 124% as on December, 31, 2008. The share of liquid assets in net assets of the Bank remained at 15% level that is almost 2 times more y-o-y.


Plusworld.org - only
the main news on the Market!