Net profit generated by Uniastrum Bank in January-September 2016 amounted to Rub 800 mln under RAS against a loss of Rub 4.5 bln in the same period of 2015, the lending institution's press service reported.
As of October 1, 2016 the bank's equity reached Rub 13 bln. Since the beginning of 2016 the portfolio of loans granted to businesses and individual entrepreneurs has expanded 58% to Rub 36.5 bln.
"We cut the cost side substantially, found and unlocked hidden reserves, and launched several new areas of business. For example, in March 2016 we started granting express guarantees to SMEs as part of Federal Law No. 44 and have lent over Rub 10 bln within slightly less than seven months, turning a profit of nearly Rub 288 mln in commission," Uniastrum Bank management board chairwoman Alla Tsykovich commented.