Summer-Bank for 9 months has increased a credit portfolio by 28%

Summer-Bank for 9 months has increased a credit portfolio by 28%


Summer-Bank, part of VTB group, in the third quarter showed net profit under IFRS in the amount of 223 million rubles, also said the Treasurer of the Bank Alexander Samokhvalov.

MOSCOW, 27 Jan. Summer-Bank, part of VTB group for January-September increased its credit portfolio by 28% to 71 billion rubles, said the Treasurer of the Bank Alexander Samokhvalov.

“We expect to increase the portfolio to the level 73-74 billion. It’s what we expect, what we finish the end of the year… This is the forecast for the gross portfolio,” Samokhvalov said during a press Breakfast.

The Bank plans to increase credit portfolio by 20-25% next year. By the end of 2015 Summer, the Bank plans to issue about 700 thousand credits, in 2016 — about a million credits.

The measure of cost risk (cost of risk) issued in 2015 loans amounted to 14%. At the end of 2015 this figure will not exceed 20%, added Samokhvalov.

The Bank in the third quarter showed net profit under IFRS in the amount of 223 million rubles, but after 9 months, he planned unprofitable.

In September, VTB Bank and “Mail of Russia” have launched a new joint project — the Postal Bank, which will be established on the basis of Summer-Bank, in the VTB group. The second largest Russian Bank assets will receive 50% plus 1 share in a new credit institution, the remainder will be “Mail”.