Penza, 20 July 2012. PenzaNews. “Kuznetsky” bank of Penza summarized the financial results of the first half of 2012 work.

As reported the press service of the financial institution, compared to the same period of the last year, net interest income increased by 40,6%, net fee and commission income — by 26,6%, total expenditure for aggregate income establishment made up 22,205 million rubles against recovery income totaling 20,560 million rubles, pretax profit made up 15,227 million rubles, net profit — 8,216 million.

“The main growth factor of net interest income is the increase of income in loans due to the volume of the portfolio,” explained the press service.

The bank also noted that the assets of “Kuznetsky” for the first six months of 2012 increased by 14,5% to 3,168 million rubles.

“To date, the bank’s equity basis amounts to 379 million rubles, growth — 22.5% to the same date of the last year. The source of growth is current year income and bank property value growth. Capital adequacy as of July, 1 stands at 12,25%,” reported the press service.

Since the beginning of 2012, the bank granted loans to enterprises and individuals in the amount of 2,285 million rubles.

“There is still a sufficient level of coverage of the overdue debts with reserves: as of July 1 of the current year reserves for loans amounted to 145,7 million rubles and 3,84 times exceeded the amount of overdue debt in,” informed the press office, adding that loan profile quality improves — the share of overdue loans in the bank’s client loan portfolio declined to 1,6% vs. 1,71% as to the corresponding date of last year.