Svyaz-Bank earned Rub 272 mln in net profit in the first quarter of 2017. That's the bank's preliminary financial results under RAS.
In the reporting period, net operating income amounted to Rub 2.1 bln, or 11.6% higher than a year ago. As of April 1, 2017 the bank's net assets stood at Rub 284 bln.
"The retail credit portfolio amounted to Rub 82.7 bln, or 4.8% higher than on April 1, 2016. By the end of 1Q 2017 the bank's mortgage portfolio totaled Rub 67.6 bln. The breakdown of the bank's retail credit portfolio substantially changed with a drop in the low-margin mortgage portfolio and an increase in high-margin portfolio of consumer and auto loans, while the portfolio quality did not deteriorate," the bank said in a press release.
As of late March 2017 the money held on the bank's check and term retail accounts rose to Rub 57.3 bln (or 38% higher than on April 1, 2016). Since the beginning of 2017 the bank's retail deposits have jumped 9.3%, but 35% of the drawn funds fell to new customers.
