Aggregate assets held by B&N Bank Group under IFRS climbed 95% to Rub 424.8 bln as of January 1, 2015 (Rub 217.4 bln in 2013), the lending institution said in a press release.
At the beginning of 2015 the group comprised B&N Bank itself, B&N Bank Credit Cards (former Moscomprivatbank), and also Standard Development and B&N Finance Limited.
The group's assets jumped on the back of a 57% surge in the credit portfolio to Rub 214.2 bln. Meanwhile, corporate lending climbed 42% to Rub 168.6 bln (after provisions), and retail lending soared 158% to Rub 45.6 bln (vs. Rub 17.7 bln in 2013). As noted in the press release, B&N Bank managed to solidify its positions on the retail lending market also thanks to the acquisition of Moscomprivatbank.
As of the balance sheet date 90+ day NPLs in the bank's credit portfolio matched the market average, equaling 5.8%. This indicator increased compared to 2013 following the integration of B&N Bank Credit Cards, B&N Bank specified.
As of year-end 2014 the group's aggregate liabilities totaled Rub 394.1 bln, or 98% more than at the end of 2013. The group's liabilities primarily increased on the back of customer funds (Rub 263.9 bln, up 53%) and Rub 23.5 bln of issued securities (a surge of 81%). The main source of the resource base is still money of households that jumped from Rub 106 bln to Rub 209.4 bln (up 97%).
B&N Bank continues rehabilitation of former Moscomprivatbank, and also of Rost Group's five banks.
