Nomos Bank posts 1H 2011 net profit of 6.17 billion roubles as lending boost bottom line

Nomos Bank 1H 2011 net profit of 6.17 billion roubles under IFRS
Nomos Bank has posted a 2Q 2011 net profit attributable to shareholders of 6.17 billion roubles under IFRS.

The net result was up from the 3.71 billion roubles posted for 1H 2010, with net interest income rising 11.394 billion roubles from 4.457 billio a year earlier, and net non interest income up from 3.688 billion roubles in 1H 2010 to 4.818 billion roubles this year.

The Bank noted its loan portfolio was up 14.2% since the start of this year 387.8 billion roubles, with lending to small business and retail growing fastest, and small businesses loans growing 21.1% to 23.2 billion roubles and retail loans growing 26.5% to 46.2 billion roubles in 1H2011. The bank noted that its NPL ratio had decreased to 2.2% of gross loans and with the NPL coverage ratio at a conservative 185.5%.

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