Irkutsk
Ulan-Ude

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Chita
Yakutsk

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Vladivostok
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Yuzhno-Sakhalinsk

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Petropavlovsk-
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Moscow

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Otkritie Bank showed an increase in assets for the first quarter

Otkritie Bank showed an increase in assets for the first quarter
Photo: pixabay.com
According to the financial statements for the first quarter of 2020, the assets of the Otkritie Group increased to 3,3 trillion rubles. The bank and other companies of the group showed growth in profits and assets.

According to the bank's press service, in the first quarter of this year, Otkritie showed a good liquidity reserve and capital adequacy, which allows us to speak of the group's strong position in the market even in the face of restrictions due to the coronavirus. According to Mikhail Zadornov, President and Chairman of the Management Board of Otkritie Bank, the group can continue its growth strategy amid the pandemic.

The net profit of the Otkritie Group for the specified period amounted to 823 million rubles. The capital adequacy ratio increased by 1,1% and amounted to 13,9% as of March 31, 2020. The group's regulatory capital increased by 34 billion rubles - up to 354 billion rubles. Total assets grew by 1% and amounted to RUB 3 billion.

The largest share in the group's assets is held by the banking business - 77%, pension assets - 18%, and insurance - 5%. There were no significant changes in the structure of assets: the share of the loan portfolio net of reserves amounted to 39%, investments in securities - 35%, loans to banks and other financial institutions - 6%.

In the most significant asset of the group, the loan portfolio before provisions amounted to 1,4 trillion rubles, which is 5% more than the previous result. Most of this is loans to legal entities - about 999 billion rubles (an increase of 1%), retail lending increased by 15% - to 408 billion rubles. Mortgage loans accounted for 47% of the group's retail portfolio, with consumer loans accounting for 45%.

The share of bad loans decreased to 8,3% (8,4% at the end of 2019). The share of loans overdue for more than 90 days was 4,5%. The indicator of overdue debt coverage by reserves remains at a high level - 179,4% as of March 31, 2020.

 Customer accounts are the main source of funding. In the structure of customer accounts at the end of the first quarter, personal accounts for 55% of the total customer accounts, or 1,031 trillion rubles. Legal entities account for 45%, or 851 billion rubles. Time deposits account for 69% of the total funds, and the share of current accounts is 31%.
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