Bank Zenit swings to 204 mln rbl IFRS net profit in Jan–Jun

MOSCOW, Aug 18 (PRIME) -- Russia’s Bank Zenit posted a 203.646 million ruble net profit in January–June after a 586.449 million ruble net loss in the same period of 2020, as calculated under International Financial Reporting Standards (IFRS), the bank said in a report late on Tuesday.

Operating income increased by 50% to 4.74 billion rubles. The pretax profit amounted to 675.84 million rubles after a pretax loss of 348.969 million rubles in the same period of 2020.

The net margin rose by 4.1% to 3.045 billion rubles, the net margin after reserves more than doubled to 3.013 billion rubles.

Assets fell by 4.3% to 204.186 billion rubles, liabilities fell by 5.9% to 180.632 billion rubles.

(73.4753 – U.S. $1)

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