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Sovcombank earned RUB 18 billion in 12-month IFRS net profit in 2018

IFRS net profit of Sovcombank for 2018 amounted to RUB 18 billion, the bank reported.

Profit from the regular business increased by 21% to RUB 23.5 billion against RUB 19.5 billion in 2017.

The bank's capital increased by 34% from RUB 85 billion as of January 1, 2018 to RUB 114 billion as of January 31, 2018. The bank paid about RUB 8 billion in dividends for the year, the negative impact of the first application of IFRS 9 on its capital amounted to RUB 3 billion.

Retail loan portfolio increased by 39% to RUB 190 billion. Corporate portfolio, including loans and bonds, increased by 20% to RUB 577 billion.

In August 2018, Sovcombank issued additional shares in the amount of RUB 10 billion, followed by another issue in the amount of RUB 6 billion in April 2019. Proceeds will be used for the development of Sovcombank.

PJSC Sovcombank (Kostroma city, reg. no. 963, tax number: 4401116480) specializes in lending to individuals and securities transactions. The bank was established 1990. The bank took over ARCA, a chain of credit agencies, in 2007, GE Money bank in 2014, ICICI Eurasia in 2015.

"AK&M", 15.05.2019 15:02


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