OREANDA-NEWS. April 26, 2012. Sviaz-Bank has totaled up its performance in the first quarter of 2012. On April 1, the Bank’s management balance sheet showed 235 billion rubles in net assets, or 34.6% more than they were a year before. The Bank placed 22nd again among the 100 biggest Russian banks for assets in March 2012, the Russian-language Forbes edition says, reported the press-centre of Sviaz-Bank.  

The Bank’s equity (capital) had risen to 38.3 billion rubles, 30% more than it was in the first quarter of 2011. Its capital adequacy rate was 16.3% (above the 10% minimum required by the Bank of Russia) on the reporting date.

The Bank’s net interest income rose to 1.6 billion rubles, and its net operating income reached 1.7billion rubles. Over the three months of 2012, the Bank earned a net profit of 374.2 million rubles. By comparison with the 1st quarter of 2011, the Bank earned much of its net profit in 2011, though, by selling problem assets. With these one-off revenues in 2011 counted out, the Bank’s net financial showing in the first quarter of 2012 stayed at the same level as it was in that period of 2011.

Sviaz-Bank increased its portfolio of loans to legal entities and self-employed entrepreneurs of quality classes 1 to 3 by 6%, or by 6.4 billion rubles to 112.8 billion rubles, since the start of the year. The Bank’s total portfolio of corporate loans, including loans made to legal entities and self-employed entrepreneurs, rose to 116.8 billion rubles. In the same period, the Bank issued loans to PO Kristall OJSC, Volgomost OJSC, PKF DIPOS LLC, DEK OJSC, NOVOGOR-Prikamye LLC, Zarechnaya Mine OJSC, KEMZ OJSC, Sakhatransneftegaz OJSC, and Tatnefteprovodstroy OJSC, among others.

On April 1, 2012, the deposit accounts of legal entities with the Bank showed total balances of 75.3 billion rubles, an almost 18% growth.

The funds accepted by the Bank from individuals in the first quarter of 2012 rose by 1.7 billion rubles, or by 10.0%, to 18.5 billion rubles. The portfolio of loans issued to individuals climbed up to nearly 16 billion rubles, 1.7 billion rubles, or 11.8%, more than at the start of 2012.

This year, the Bank continues to add new products and services for various customer categories and improve the existing line. New, low rates have been introduced for legal entities and self-employed entrepreneurs. Sviaz-Bank has launched a new service – guaranteed transfer in U.S. dollars – for its corporate customers.

The Bank has also improved the terms of several types of deposits for individuals, such as higher rates of interest on short-time deposits and introduced two new long-term deposits paying higher interest. A new nonpurpose consumer credit program has been developed and launched for making loans to employees of public service institutions and companies that are the Bank’s partners at an interest rate starting at 12.9% per annum in rubles, and the interest rate has been cut under the program of loans on new housing under construction for customers having favorable credit histories.