OREANDA-NEWS. March 28, 2014. At a business breakfast for partners and investors held in Moscow, the President and Executive Board of Center-invest Bank presented the bank’s audited IFRS financial statements for 2013 and signed a new three-year loan agreement with the International Finance Corporation (IFC).

This is the eighteenth year that the bank has reported under IFRS. Our auditor, PricewaterhouseCoopers Audit, has verified the high quality of our accounting practices in 2013 and submitted its independent auditor’s report.

Grigory Zhukov, Chairman of the Executive Board of Center-invest Bank, reported, “In 2013, net assets increased by 21.2% to RUB76bn, and capital increased by 15.3% to RUB8.8bn. Almost 90% of the bank’s income came from lending to the real economy.”

At RUB1.4bn, the bank’s net profit for 2013 was up 27% on 2012. The growth in the bank’s annual profit is attributable to an increase in interest income from lending.

The bank’s assets are concentrated in the real economy. The bank’s loan and lease portfolio demonstrated strong growth (+ 27.1%) and at 1 January 2014 stood at RUB61.5bn. In 2013 deposits increased by 12% to RUB49.4bn.

President and Chairman of the Board of Directors of Center-invest Bank, Dr Vasily Vysokov, commented, “The confirmation by a leading international auditor that the key financial results for southern Russia’s leading bank indicate sustainable growth sends a positive signal to participants in Russian and global markets who are seeking partners for investment in sustainable and rapidly developing regions.”