Net profit generated by Bank Vozrozhdenie under RAS in 2016 amounted to Rub 1.2 bln against a Rub 4.7 bln net loss a year ago, the lending institution's press service reported. These are the financial institution's preliminary results.
The bank's credit portfolio before provisions expanded 9% y-o-y to Rub 196 bln. retail loans, including securities mortgage loans, jumped 21% to Rub 64 bln.
"Mortgage loans are still the fastest growing segment. In 2016, the bank granted over 7,500 mortgage loans to the clients for a total of Rub 19.5 bln. Mortgage lending soared 76% y-o-y. The corporate credit portfolio before provisions has increased 4% YTD to Rub 132 bln," the bank noted.
Client funds held on deposit and settlement accounts climbed 18% to Rub 204 bln in 2016. Household funds, the primary source of the bank's funds, rose 9% to Rub 139 bln as of end 2016, while the money of businesses jumped 44% to Rub 65 bln in 2016.
