News

04/15/2016

Expobank LLC Presents 2015 RAS Financial Statements

With year 2015 closed, Expobank has demonstrated growth in its economic performance and high return on equity, which is evidenced by RAS financial statements. Expobank’s profit as of 2015 year-end equaled RUB 1.8 bln. Apart from that, the financial result from acquisition of MAK-Bank was reflected in equity which, throughout 2015, grew by RUB 2.6 bln, making it RUB 10 bln.

Operational profit before tax in 2015 equaled RUB 2.4 bln as compared to RUB 2.2 bln a year earlier. Expobank’s assets in 2015 grew by 38% to RUB 72 bln. As part of the adopted conservative approach to the loan book composition, the volume of net loan receivables grew by 10.4% to RUB 29.9 bln. Other increment of assets was ensured by an increase in the Bank’s liquid assets, which is in line with the approved development strategy. Instant liquidity (N2) and current liquidity (N3) ratios as of 01 January 2016 made 111.6% and 229.5% respectively. Customers’ deposits as of 2015 year-end equaled RUB 45.5 bln, which was higher by 46.2% as compared to the beginning of the year. RoE was equal to 23.1%.

As Alexey Sannikov, CEO of Expobank LLC, puts it, “We are targeted at implementation of a conservative policy. Throughout the entire reporting period the Bank maintained high capital adequacy: as of 01 January 2016 it equaled 14%. We keep on expanding our business and increasing operational efficiency both through organic growth and M&A deals”.

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