Sovcombank says IFRS net profit at 52 bln rbl in January–June

MOSCOW, Oct 3 (PRIME) -- The net profit of Russia’s Sovcombank amounted to 52 billion rubles in January–June, as calculated under International Financial Reporting Standards (IFRS), the bank said in a report on Tuesday without disclosing 2022 figures.

Return on equity amounted to 55% in the reported period.

The net interest income stood at 67 billion rubles, while the net commission income at 12 billion rubles.

The bank’s assets have grown by 9% since the start of the year to 2.4 trillion rubles, capital by 29% to 247 billion rubles.

The retail loan portfolio has increased by 15% since the year start to 674 billion rubles, the corporate one by 7% to 850 billion rubles, retail deposits by 7% to 774 billion rubles, corporate ones by 12% to 1.1 trillion rubles.

The bank expects its net profit to continue growing in July–December and to reach a record in 2023, First Deputy CEO Sergei Khotimsky said, as cited by the bank.

(98.4785 rubles – U.S. $1)

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