CREDIT BANK OF MOSCOW reports its RAS results for the three quarters of 2014


CREDIT BANK OF MOSCOW has reported its operating results for 9m2014 in accordance with Russian Accounting Standards (RAS).

The Bank's net income increased by 47% yoy and amounted to RUB 5.8 bln. This was due to growing earnings from the Bank's core activities. Net interest income rose by 53%, and net fee and commission income by 28%, reaching RUB 17.1 billion and RUB 4.6 billion, respectively.

The Bank's loan portfolio before provisions for impairment expanded by 15% ytd and stood at RUB 376.1 bln, of which RUB 255.3 bln are attributable to corporate loans and RUB 120.8 bln to retail loans.

The Bank's total assets grew by 7% for the 9 months of this year and reached RUB 478.9 bln as of October 1, 2014, of which 80% are loans to customers, and 12% investments in securities. CREDIT BANK OF MOSCOW holds the 14th position by total assets in the ranking "INTERFAX-100. Banks of Russia. Key performance indicators for 3Q 2014."

The Banks' capital adequacy ratios as of October 1, 2014 remained at a comfortable level as follows: N1.1 — 8.14%, N1.2 — 8.14%, N1.0 — 12.28%, and the Bank's equity stood at RUB 64.8 bln.

The Bank's branch network in Moscow and the Moscow region consists of 59 offices and 33 stand-alone cash desks. CREDIT BANK OF MOSCOW’s network of automated banking facilities includes 814 ATM’s and more than 5,700 payment terminals.