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Otkritie Bank increased its profit to 53,5 billion rubles
Otkritie Bank increased its net profit for the first half of the year to 53,5 billion rubles, according to Russian accounting standards. This is 29,7 billion rubles more than the result for the same period last year.
According to the press service of Otkritie Bank, since the beginning of the year, the assets of Otkritie Bank have grown by 192 billion rubles - up to 2,8 trillion rubles. The loan portfolio before provisions in the first half of the year increased by almost 13% - up to 1,9 trillion rubles. The share of the loan portfolio excluding reserves in assets increased to 59% (last year for the same period - by 52%). The volume of loans issued to corporate and SME clients in six months amounted to 671 billion rubles, which is 37% higher than in the previous year. Since the beginning of the year, the bank has issued 166 billion rubles in retail loans, which is 53% higher compared to the same period last year.
Customer funds increased by 94 billion rubles - up to two trillion rubles due to the growth of funds of legal entities by 97 billion rubles - up to 1 billion rubles. The bank's income from regular activities for the reporting period amounted to 038 billion rubles compared to 56,3 billion rubles a year earlier. The dynamics is due to the growth of net interest income due to an increase in lending volumes and the share of current accounts in clients' funds.
The bank's operating income before deductions to reserves amounted to 92,5 billion rubles, which is 44% higher than the result for the same period last year. Operating expenses for the six months of the year amounted to 33,7 billion rubles, which is 2% higher than the last year and is significantly lower than the annual inflation rate (6,5%).