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Otkritie Group's net profit grew 2,6 times
In the first half of 2021, the Otkritie Group's IFRS net profit increased 2,6 times. The total amount of net profit was 38 billion rubles, the return on equity was 19%.
According to the bank's press service, the total assets of the Otkritie Group since the beginning of 2021 have increased by 6% to RUB 3 billion. Of these, about 684 billion rubles, or 2% of the group's assets, generate permanent interest income.
The share of the loan portfolio increased from 46% to 49% or RUB 1 billion net of provisions. Investments in securities, including portfolios of securities of pension and insurance businesses, accounted for 787% of the group's total assets or RUB 32 billion.
The volume of loans issued to corporate clients in the first half of 2021 increased by 34% compared to the same period last year to 590 billion rubles, to small and medium-sized businesses - by 65% compared to the same period last year to 81 billion rubles, to retail clients - by 52% to 166 billion rubles.
According to the results of the first six months of the year, Otkritie Bank entered the top 3 Russian banks in terms of the volume of loans issued for refinancing mortgages, according to DOM.RF and Frank RG. As of June 30, 2021, the share of mortgages in the loan portfolio of individuals was 46%, the share of consumer lending was 36%.
Customer funds are the main source of funding for the group, with a 66% share of the group's liabilities and increased in the first half of 2021 by 6% to RUB 2086 billion. Funds from individuals account for 53% of total customer funds, or RUB 1 billion. Legal entities account for 103%, or 47 billion rubles (an increase of 983% in the first half of 12). In the structure of customer funds, term deposits account for 2021% of the total customer funds.
Return on equity (ROTE) for 6 months of 2021 increased to 18,9% from 8,3% in the same period last year thanks to the dynamic growth of regular banking income. The group's general capital adequacy ratio (Basel III) was 30% as of June 14,5.
As noted by the President - Chairman of the Board of Otkrytie Bank Mikhail Zadornov, the net profit became a record for half a year. These indicators were achieved due to the growth of the main banking business of the group and stable banking income. The decrease in the cost of risk also had a positive impact on the background of maintaining a stable loan portfolio quality and a high level of portfolio coverage by provisions.