Net profit that Svyaz-Bank generated in January-February 2017 totaled Rub 228 bln under RAS, the lending institution's press service reported.
"Thus, during the first two months of 2017 the bank's profit jumped by Rub 331 mln compared to the year-ago period," the bank noted.
In 2016, Svyaz-Bank posted a net loss of Rub 14.1 bln. As the financial institution noted, the loss was driven by the formation of provisions (Rub 15 bln) designed to cover realized and potential credit risks associated with the borrowers. Given the funds injected into the bank's capital in late 2016, the losses did not produce any tangible impact on capital.
Meanwhile, the lender's net interest income more than doubled, and net commission income rose 7%. Net operating income climbed 3.3x to Rub 9.4 bln in 2016.
