Net profit of the Bank of Russia under IFRS in 2015 fell by 40%

Net profit of the Bank of Russia under IFRS in 2015 fell by 40%


Moscow. June 30. Net profit of the Bank of Russia under IFRS in 2015 fell by 39.7% – to 2.99 trillion rubles from 4.96 trillion rubles in 2014, said a source close to the Bank.

Central Bank prepares financial statements according to international standards, but does not publish it. Figures according to IFRS at times differ from the statements of the company: profit of the Bank of Russia according to Russian standards in 2015 amounted to 112.4 billion. It is from net profit, the company calculated the amount that the Bank must transfer to the budget (currently 90% of the profits).

The difference of the indicators according to RAS and IFRS is mainly due to positive exchange rate differences: in 2015, they estimated 2.95 trillion rubles, the source said. The fall in profits under IFRS compared with 2014, also mainly due to exchange rate differences.

Net interest income of the Bank according to IFRS in 2015 rose to 777,7 billion 540 billion, provisions for impairment losses increased from 87,7 billion to 487,7 billion. As a result, net interest income after provisions decreased to 290 billion rubles 452,3 billion in 2014.

Profit for the year excluding exchange rate differences, fell in 2015 to 40.7 billion rubles from 193 billion rubles in 2014.

The Central Bank has another option for reporting is consolidated, i.e. taking account of the savings Bank. The group of the Central Bank last year received a profit of $ 3.2 trillion roubles, as compared to 5.2 trillion rubles in 2014, said the Agency interlocutor.