Nordea Bank reported IFRS net profit of Rub 3.47 bln in 2014, or up 18% on the year, the lending institution said in a press release.
These results became possible both by boosting operating income (26% y-o-y) and keeping the cost side strictly in check, the bank noted.
The bank's aggregate credit portfolio mainly consists of currency loans, and expanded 36% to Rub 345.65 bln as of January 1, 2015, which was driven by a sharp increase in currency exchange rates. The bank's corporate credit portfolio totaled Rub 289.51 bln. The bank's retail credit portfolio is equal to Rub 24.74 bln.
Equity rose on the back of FY14 profit by 12% to Rub 32.82 bln. The bank's assets soared 48% to Rub 408.55 bln
In line with the bank's financial statement, there was no outflow from clients' settlement accounts. Specifically, Rub 30.2 bln was held on the accounts as of year-end 2014 compared to Rub 28 bln at the end of 2013.
