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In 2016 bank Kuznetsky increases its profit 5 times

12:31 | 09.03.2017 | Economy


Penza, 9 March 2017. PenzaNews. In 2016 bank Kuznetsky received 44.8 million rubles of net profit, which is 5 times more than in 2015. At the same time, pre-tax profit amounted to 49 million rubles increasing 4 times compared to the previous year.

In 2016 bank Kuznetsky increases its profit 5 times

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As the press service of the financial institution told PenzaNews, the income growth was achieved by means of the increase of net commission income and interest income, as well as by the reduction of office expenses.

"The increase of net commission income amounted to 25%, and the increase of interest income – to 10%. Net interest margin increased by 12%. Transaction costs decreased by 6%," the press service noted.

Bank Kuznetsky was founded as a limited liability company and registered by the Bank of Russia on October 26, 1990, under No. 609. It was transformed into an OJSC on January 19, 2012, and into a PJSC on September 17, 2015.

On January 14, 2005, Bank Kuznetsky was included into the register of banks that are enrolled in the compulsory deposit insurance system under No. 428. In July 2015, AK&M rating agency confirmed the bank credit rating at “B++” on the national scale with a “stable” outlook.

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