Bank Kuznetsky combined income increases by 47%
Penza, 15 September 2015. PenzaNews. The combined income of the Penza Bank Kuznetsky has increased by 47% over the first eight months of 2015 year-to-year.
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Its interest yields went up 13%, foreign currency operating profit increased by 28%, net fee and commission income – by 10%, while total expenditure grew by 23%, and operating expenses went up by 13%, the bank’s press service told PenzaNews agency.
According to figures on September 1, 2015, Bank Kuznetsky reached over 1 billion rubles of income, with net interest income of 347.7 million rubles and pre-tax, pre-backup-funding gross income of 42.53 million rubles.
The bank’s assets grew by 14% year to year by September, up to 4,378,600 rubles, own capital increasing to 549.1 billion (9%), all through this year’s income and increase of the share capital.
Since the beginning of 2015, Bank Kuznetsky loaned over 3.6 billion rubles to enterprises and indivuals, with a year-to-year increase of 3%. The corporate loan portfolio of the bank on September 1, 2015 increased by 29% since the beginning of the year, reaching 2.1 million rubles, while the individual loan portfolio went up to 769.1 million rubles over the same period of time.
The bank representatives are reporting quality improvement of their credit portfolio, with loan delinquency rate dropping down to 5.65% over 6.05% year-to-year.
The bank’s investment portfolio increased by 34% compared to 2014, up to 341.6 million rubles, and the remaining individual deposit funds on September 1, 2015, was calculated at 2 billion 421 million rubles, growing up by 356 million (17.2%) since last year, compared to the previous year’s annual growth of 2.5%. At the same time, the accounts of legal entities also grew since the beginning of 2015 – by 1.6% up to 1 billion 237 million rubles.
Based on the data available on September 1, 2015, the index H1.1 reached 8.48% (with a Bank of Russia minimum of 6%), H1.0 – 11.4% (minimum 10%), H2 – 38.37% (minimum 15%), H3 – 72.34% (minimum 50%).
The aforementioned levels were calculated using the formulas developed by the bank itself.
Bank Kuznetsky was founded as a limited liability company and registered by the Bank of Russia on October 26, 1990, under No. 609. On January 19, 2012, it was transformed into OJSC Bank Kuznetsky.
On January 14, 2005, OJSC 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.