icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Lending push drives Gazprombank 1H 2011 net profit to 38.1 billion roubles

Lending push drives Gazprombank 1H 2011 net profit to 38.1 billion roubles
Russian bank, Gazprombank, has posted a 1H 2011 net income of 38.1 billion roubles under IFRS.

The net result is up 16.7% from the 32.7 billion rouble net result posted for 1H 2010, as lending and fee-based business income doubled from 1H 2010 to 32.5 billion roubles, and consumer lending grew 18% over the half from 96 billion roubles at the end of 2010 to 114 billion at the end of June.  That helped offset a 2.7% fall in corporate lending to 962 billion roubles.  Gazprombank said mortgage lending comprised 69% of retail lending.

Gazprombank added that a reduced funding cost and structural changes to interest earning assets had pushed 1H net interest margin to 3.6% from 1.9% a year earlier, as corporate deposits rose 3.9% to 984 billion roubles and retail deposits rose 9% to 260 billion roubles.

Podcasts