In 2015 net profit earned by Nordea Bank came to Rub 4.64 bln under IFRS, or 33.7% more than in 2014, the lending institution's press service reported.
As of January 1, 2016 the lender's aggregate credit portfolio in rouble equivalent expanded to Rub 360.03 bln (up 4.2%). The bank's corporate credit portfolio totaled Rub 287.09 bln. The bank's retail credit portfolio shrank 13% (to Rub 21.49 bln) as Nordea Bank amended its strategy for the retail segment and refocused on the corporate segment.
"In 2015 the bank decided to center efforts on its primary business, corporate operations. The bank's priorities for 2016 are still to strengthen and deepen long-term relations with clients (major Russian and foreign businesses), to strictly pursue the risk management policy that helps us keep NPLs at 0.66%, a unique level for the market, and thorough cost control," Nordea Bank management board chairman Igor Bulantsev commented.
