Penza, 19 June 2014. PenzaNews. Bank Kuznetsky became the winner of “Banking” award and was granted prize “For contribution to economic development of the region” during a ceremony held in hotel “Metropol” in Moscow. The event was attended by the state authorities of the Russian Federation, heads of Russian banking associations, the Chamber of Commerce, the Russian Union of Industrialists and Entrepreneurs, the country's leading bankers.

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As the press service of the bank told news agency “PenzaNews,” the award was the result of its financial performance in 2013 and dynamic development.

“On January 1, 2014 assets reached 4,278,6 million rubles, net loans increased by 25% and amounted to 3,003,7 million rubles. The main source of asset growth was the increase in the loan portfolio and investments in securities. Over the year, the equity increased by 11%, the share capital by 3%,” the press service commented.

Profit before taxation made 70,8 million rubles, which exceeds the 2012 figure by 47%.

Stable sources of funding allowed the bank to increase lending to both individuals and legal entities. Thus, the total loan portfolio increased by 12% and amounted to 2,877,6 million rubles.

The volume of loans amounted to 5,629,6 million rubles, an increase compared to last year — 16%.

“The award is a great honor for Bank Kuznetsky and it means that our work and successes are appreciated by Russian financial experts. For over 23 years we have worked to the benefit of the Penza region and done our best to contribute to its economic development and growth. Painstaking and balanced work, continuous improvement of the quality of services — this is what distinguishes us and helps us achieve our goals,” the chairman of Bank Kuznetsky Mikhail Dralin underlined.

Award “Banking” was established in 2004 by “Banking” magazine, media holding “Informbank Agency” with the support of the Commission on banks and banking activities RSPP, the Association of Regional Banks of Russia, Association of Russian Banks.

This award is one of the most significant awards in the Russian banking sector and is awarded to federal and regional banks, whose successes and achievements were of high importance in the development of the banking system and strengthening of the economic stability of Russia.