Credit Europe Bank Ltd’s Net Profit in 2013 reached RUB 2.9 bln with Customers Deposits further increased by 24.6%

25.03.2014

• The Net Profit reached RUB 2.9 bln as of YE 2013.


•  Total Assets increased by 29.2% from RUB 117.7 bln to RUB 152.1 bln with Net Loans portfolio increased by 30.3% from 102.5 bln to RUB 133.5 bln.


• NPL at 4.1% - in line with the increased focus on consumer lending strategy yet lower than other market players.


• CAR standing at a firm 19.8%, a very stable level assuring the bank for further growth for upcoming years.


• Net Interest Margin increased to 9.8% in 2013 from 9.2% in 2012.


• Cost to Income Ratio decreased to 44.6% in 2013 from 50.5% in 2012 due to strict cost control and improved efficiency measures.


• Customer deposits increased by 24.6% from 37.4 bln in 2012 to RUB 46.6 bln in 2013.

Commenting on the results, the Bank’s president said «Our performance in 2013 was again in line with our expectations with achieving a higher net profit than the previous year and further building on our strategy of sustainable growth and profitability».