Net profit that Locko-Bank generated in 2016 amounted to Rub 1.95 bln. These are numbers from the bank's IFRS consolidated financial statement.
"Net profit totaled Rub 1.95 bln, or down 34% y-o-y. Higher net profit in 2015 was driven by substantial profit from financial instruments due to the volatility in bond and currency markets in 2015," the bank said in a press release.
Net interest margin came in at 5.4%, or 0.8% higher than in 2015, while net commission income in 2016 amounted to Rub 1.45 bln, up a hefty 36.5% compared to the previous year.
The lender's operating income reached Rub 7.1 bln in 2016. "Compared to the previous year the indicator dropped by Rub 1 bln. Major factors are solid income derived financial instrument operations in 2015, and also the decreasing cost of funds and an increase in commission income in 2016," the press release pointed out.
In 2016, Locko-Bank's assets amounted to Rub 79.6 bln, down 22.4%, on balance, due to a decline in the securities portfolio
By end 2016, the bank's retail credit portfolio, net of provisions, reached Rub 21 bln, up 30.9% YTD. In 2016, the money held on client accounts reached Rub 54 bln (a 1.7% increase).
As of end 2016, Locko-Bank's own funds stood at Rub 13.55 bln.
