Expobank’s Income Grows More than Twofold and Stands at RUB 2.9 bln

Expobank has demonstrated stable growth of its financials and a significant income increase. Comprehensive income of the Bank grew 2.6 times y-o-y and made RUB 2.9. This factor corresponds to return on equity (ROE) of 55% per annum. Since the beginning of the year equity has grown by 32% and equaled RUB 11.8 bln.

In accordance with IFRS statements for H1 2016 performance, total assets increased to RUB 74.9 bln as compared to RUB 71.3 bln on 01 January 2016. The Bank continues to maintain high share of liquid assets: since the beginning of the year this value has grown from 39% to 63% of total assets, or to RUB 47.2 bln, including 26.2 bln worth of unencumbered liquid securities.
Due to customers and clients’ confidence, their liabilities in the Bank increased by 10.2 bln, to RUB 54.3 bln since January, with the liabilities structure being diversified as a result of the corporate clients share increment from 37% to 41% as compared to the beginning of the year.

Alexey Sannikov, CEO of Expobank LLC, said, “As a whole, the Bank’s performance for the first six months of 2016 met our expectations. We managed to achieve good financial results through combination of organic growth and implementation of M&A deals that form part of the Bank’s regular activities. At the moment, competition for quality customers is strong in the sector, which is reflected in the reduction of interest rates for asset transactions and growth of expenses to attract new target customers and clients, but our team has managed to keep the margin and increase business efficiency through costs optimization”.

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