Net profit that Promsvyazbank generated in January-March 2017 amounted to Rub 706 mln compared to Rub 414 mln in the same period last year, the lending institution said in a press release.

Income from main banking operations (interest income and commission income) jumped 21% to Rub 14.2 bln. Net interest income climbed 15% to Rub 9.6 bln, while net commission income soared 37% to Rub 4.6 bln.

Income from securities transactions amounted to Rub 1 bln vs. Rub 1.3 b in the first quarter of 2016. The bank's operating income amounted to Rub 12.8 bln in January-March 2017. Operating expenses came to Rub 5.5 bln, or flat vs. the first quarter of 2016. Expenses incurred to create provisions dropped 14% y-o-y to Rub 6.5 bln.

As of April 1, 2017 the bank's assets stood at Rub 1.2 tln, or unchanged YTD. Since the beginning of 2017 the credit portfolio (before provisions and inter-bank loans) has shrunk 4% to Rub 778 bln as of April 1. The corporate credit portfolio amounted to Rub 689 bln, while the retail credit portfolio totaled Rub 88 bln.

As of April 1, 2017 the lender's securities portfolio stood at Rub 100.5 bln (8% of the bank's assets). "Overall, the bank remains conservative in its view of financial market conditions and continues formation of the securities portfolio using mainly sovereign and high-quality corporate bonds," the bank emphasized in the press release.

As of April 1, 2017 total funds and deposit accounts held by clients (households and businesses) amounted to Rub 884 bln. Since end 2016 corporate funds have dropped 6% to Rub 492 bln, while the money of households rose 2% to Rub 392 bln.

As of April 1, 2017 the bank's capital was equal to Rub 145 bln, with core, main and total capital adequacy ratios at 6.5%, 7.8% and 13.3%, respectively.