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Otkritie Bank earned 65 billion rubles of net profit in 8 months
The net profit of Otkritie Bank for 8 months of 2021 amounted to 64,9 billion rubles against 24,8 billion rubles for the same period last year, according to Russian accounting standards.
Key bank indicators for August 2021:
The bank's assets in August increased by 32,5 billion rubles, or 1,1%.
The loan portfolio before provisions grew by RUB 16 billion, or 0,8%, mainly due to the portfolio of legal entities (+ RUB 13,5 billion, or + 1,0%).
Customer funds increased by RUB 55,3 billion, or 2,7%, also mainly due to legal entities (+ RUB 53,5 billion, or + 5,1%).
In August, Otkritie Bank earned 6,2 billion rubles in net profit under RAS.
Comments on the dynamics of the bank's key indicators for 8 months of 2021:
Since the beginning of 2021, the assets of Otkritie Bank have grown by 329 billion rubles (+ 12,7%) to 2,92 trillion rubles.
The loan portfolio before provisions increased by 291 billion rubles (+ 17,3%) to 1,98 trillion rubles.
The corporate loan portfolio grew by 206 billion rubles (+ 17,3%) to 1 billion rubles. The volume of loans issued to corporate clients and clients of the small and medium-sized business segment in 395 months of 8 amounted to 2021 billion rubles, which is 905% higher than in the same period last year.
The retail loan portfolio increased by RUB 85 billion (+ 17,1%), amounting to RUB 580 billion as of September 1, 2021. Since the beginning of 2021, the bank has issued RUB 190 billion in retail loans, which is 33% higher compared to the same period last year.
According to the results of 8 months of 2021, customer funds increased by 181 billion (+ 9,5%) to 2,09 trillion rubles. The volume of funds of legal entities increased by 170 billion rubles (+ 18%) to 1 billion rubles, funds of individuals - by 111 billion rubles (+ 11,2% since the beginning of the year) to 1 billion rubles.
The bank's net profit for 8 months of 2021 amounted to 64,9 billion rubles against 24,8 billion rubles a year earlier.
The bank's income from client business for 8 months of 2021 amounted to 77,3 billion rubles, which is 47% higher than in the same period last year. The dynamics is due to an increase in net interest income due to an increase in the loan portfolio and interest income, on the one hand, and a decrease in interest expense due to an increase in the share of current accounts in customer funds, on the other hand, as well as an increase in net fee and commission income.
The bank's operating income before deductions to reserves amounted to 120,6 billion rubles, which is also 47% higher than the result for the same period last year (82,1 billion rubles).
Operating expenses for 8 months of 2021 increased by 6% compared to the same period last year and amounted to 44,9 billion rubles.
The bank's regulatory capital as of September 1, 2021 amounted to 364,8 billion rubles (+ 8,6% since the beginning of the year).
Capital adequacy and liquidity ratios are observed by the bank with a significant margin: as of September 1, 2021, N1.0 amounted to 13,6% (with a threshold value of 11,5%, taking into account surcharges), H2 - 157,6% (threshold value: 15 %), Н3 - 158,3% (threshold value: 50%).
* Indicators calculated according to the internal methodology of Otkritie Bank on an unconsolidated basis.