OREANDA-NEWS.  April 18, 2012. NOMOS Bank has published its financial results according to Russian Accounting Standards for the three month period ended March 31, 2012. These results are for NOMOS Bank only and exclude the subsidiaries of Nomos Group. (Nomos Group’s results are reported on an IFRS basis and will be published later in the coming months, reported the press-centre of NOMOS Bank.

The net profit of NOMOS Bank was RUB 2.2 billion in the first quarter of 2012, which showed 97% increase an annualised basis.

Net interest income reached RUB 4.5 billion, up 24% compared to the same three month period in 2011. Net interest income remained the core revenue component for the bank comprising 77%.

Net fee and commission income continued to strengthen steadily in the first quarter of 2012, achieving an increase of 13% over the same period in 2011 to reach RUB 626 million.

Net trading income from securities increased by 87% year on year to RUB 878 million.

Operating expenses of the Bank were well controlled during the three-month period and remained at the same level as Q1 2011.

The Bank's assets were RUB 458 billion as at 31 March, 2012. The structure of these assets did not change significantly over the quarter: the loan portfolio represented 66% of total assets, the share of loans and advances to banks and other financial institutions accounted for 14% of total assets and the share of investments in securities amounted to 16% of total assets.

NOMOS Bank continues to maintain a well-diversified funding base. The share of customer deposits accounted for 58% of total liabilities which was slightly up on the 57% reported at the end of 2011. The net loans to deposits ratio was 116% as at March 31, 2012.

The regulatory capital of the Bank as at March 31, 2012 amounted to RUB 58.6 billion. The capital adequacy ratio in accordance with the requirements of the Central Bank of Russia (N1 ratio) amounted to 11.31% with no significant changes compared to December 31, 2011. The instant liquidity (N2) and current liquidity (N3) ratios as at March 21, 2012 remained stable at 68.69% and 99.4% respectively.