Report: Otkritie Bank RAS net profit at 6 bln rbl in Jan–Mar

MOSCOW, Apr 25 (PRIME) -- The net profit of Otkritie Financial Corporation (FC) Bank amounted to 6 billion rubles in January–March, as calculated under Russian Accounting Standards (RAS), CEO Mikhail Zadornov said in an interview with Rossiya 24 television channel broadcast late on Tuesday.

“We can summarize the results of the first quarter. The bank received a net profit of 6 billion rubles under the Russian standards,” he said, adding that the bank has almost completely paid off the money it owed to the central bank.

Client account balances with the bank rose by 60 billion rubles in the period as individuals see the central bank as an understandable and transparent shareholder. They think that Otkritie Bank has stabilized its condition and will improve it in the future, he said.

“Everything else depends on us. We will actively work with companies, including small businesses. That is why we expect an increase in money on accounts of legal entities, and we also forecast a rather active inflow of new clients in the second and third quarters,” he said.

Insurance company Rosgosstrakh, part of Otkritie’s group, received a 1.2 billion ruble net profit in the first quarter, he added.

Otkritie FC Bank and B&N Bank are undergoing a bailout by the central bank; the authority plans to merge the banks and sell the combined bank.

(61.6644 rubles – U.S. $1)

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