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Otkritie Bank's net profit to exceed RUB 43 billion

Otkritie Bank's net profit to exceed RUB 43 billion

As President and Chairman of the Board of Otkritie Bank Mikhail Zadornov said at a press conference, by the end of 2020, the bank's net profit under IFRS will amount to 43,4 billion rubles. Even the pandemic did not prevent the achievement of most of the goals.

According to the bank's press service, the assets of the Otkritie group grew by 2020% in 6. The total amount of assets amounted to 3,472 trillion rubles. In 2019, this amount was 3,264 trillion rubles. The capital of the group of companies increased by 10% in 2020, amounting to 520 billion rubles.

At the same time, the volume of Otkritie's liabilities also increased by 6% and amounted to 1 trillion rubles as of January 2021, 2,951.

At the same time, the share of problem loans decreased. Compared to 2017, when there were 157 billion rubles in problem loans, in 2020 there were three times less of them - 54 billion rubles.

 As Mikhail Zadornov noted, the capital of the group of companies grew 3,4 times, loans to customers - 2,2 times. Fee and commission income grew slightly less - twice -, while assets increased 1,4 times.

At the end of 2020, the return on equity also increased, amounting to 11,5% against a negative indicator of minus 305% three years ago.


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