Net profit earned by Credit Europe Bank in January-March 2016 under RAS climbed 3.3 times to Rub 407.1 mln compared to the same period of last year (Rub 122.6 mln), the lending institution's financial statement shows. Net profit primarily grew on the back of a rise in net interest income, the bank said.
The bank's after-tax net profit slid 58.15% to Rub 813.13 mln in 2015. "Profit declined due to a contraction in primary income items, namely net interest income and a rise in operating expenses," the financial statement says.
The bank's total interest income in January-March 2016 amounted to Rub 4.36 bln, down 23.6% y-o-y (Rub 22.27 bln). The bank attributed this slide in total interest income to a contraction in the retail credit portfolio and interest income derived, first and foremost, from retail loans.
The bank's drawn funds (credits, deposits, customers' accounts) came to Rub 97 bln in January-March 2016, or 20.72% less than in the first quarter of 2015 (Rub 122.3 bln). "Drawn funds fell because all primary items of the bank's funding dropped simultaneously," the lending institution points out.
As of March 31, 2016 the bank's equity (capital) came to Rub 20.42 bln, or flat against data as of March 31, 2015 (Rub 20.43 bln).
As of April 1, 2016 the lender's charter capital totaled Rub 8.3 bln. This indicator has been intact since end 2008, the bank specifies in a press release.
