RAMBLER NEWS SERVICE. Net profit that Pochta Bank generated under IFRS in 2016 amounted to Rub 1.2 bln, the bank's president and management board chairman Dmitry Rudenko said at the International Investment Forum in Sochi. The bank planned to earn Rub 120 mln.

Net operating income climbed 54% to Rub 20 bln in 2016. The bank's assets exceeded Rub 114 bln, up 84%.

In 2016, Pochta Bank's credit portfolio expanded by 59% to over Rub 116 bln. "The credit portfolio's main driver was cash loans, the portfolio of which reached around Rub 94 bln (an increase of 68%)," the lending institution emphasized.

The portfolio of client liabilities amounted to Rub 36.5 bln, the bank drew Rub 25.6 bln into savings accounts, and Rub 3.9 bln to check accounts of households. During the year the cost of credit risk fell from 15.5% to 9.7%. In the reporting period Pochta Bank's clientele expanded by 1 mln to over 3.3 mln.

According to Dmitry Rudenko, the bank's regional network expanded by over 10x to 6,310 units. "Network expansion was fully funded by current profit. Network growth became a key driver of the credit and deposit portfolios," the lending institution pointed out.