PRIME-TASS. In 2012 Transcreditbank managed to ramp up its net profit under IFRS by 60% to Rub 14.2 bln, the bank said in a press release.
The bank’s operating income before reserves against devaluation climbed 42% to Rub 37.8 bln. Net interest income surged 30% to Rub 27.8 bln. In addition, net commission income totaled Rub 6.4 bln, up 23% on the year. The bank’s aggregate assets amounted to Rub 518.7 bln vs. Rub 505.8 bln in 2011. As of year-end 2012 reserves against the aggregate credit portfolio accounted for 4.3% (4.2% in 2011).
The bank’s aggregate credit portfolio, excluding reserves against devaluation, jumped 16% to Rub 373.8 bln. The corporate credit portfolio before reserves rose 9% to Rub 270 bln, while the retail credit portfolio climbed 35% to Rub 120 bln. Consumer loans (67%) prevail in the credit portfolio, mortgage loans account for 29% of retail loans and 3% fall to credit cards. Primary growth drivers for retail operations are still consumer loans, which shot up 50% to Rub 79.7 bln.
During the year mortgage loans rose 4% to Rub 35.4 bln, with 70% of these loans issued as part of social mortgage lending programs for Russian Railways Group employees. All in all, such loans account for 86% of the bank’s retail lending.
