Penza, 28 August 2015. PenzaNews. Home Credit Bank that operates in many areas of Russia, including the Penza region, has suffered 8.8 billion rubles of losses over its international financial reporting standard (IFRS) indicators over the first half of 2015.

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“This financial result was caused by the interest margin pressure, great loan losses and reduction of business volumes due to more restricted underwriting criteria,” says the press release of the bank.

According to the document, the company netted a total of 15.5 billion rubles of profit, which is 42.6% less than 27.1 billion a year ago.

“The operation profits in the aforementioned period went down by 37.5% to 22.8 billion compared to the same period last year (36.5 billion in the first half of 2014),” the message adds.

It also says that the general and management expenses went down by 20% to 11.1 billion rubles with the NPL rate at 15.1 percent.

“The asset level was calculated at 294.9 billion rubles, down 12.9% compared to late 2014. The credit portfolio as of June 30, 2015, decreased by 16.8% to 203.8 billion rubles (244.8 billion in late 2014). The volume of loans was calculated at 74.4 billion rubles (120.7 billion in the first half of 2015),” reads the press release of Home Credit Bank.

It stresses that the June 30 volumes of deposits and accounts reached 191.8 billion, which is 12.2% higher than in 2014.