Asian-Pacific Bank (JSC) (hereinafter referred to as the Bank) showed positive financial results according to the interim condensed financial statements for the first 3 months of the year ended March 31, 2021. Net profit amounted to RUB 630 mm under international financial reporting standards.
«We are satisfied with the Bank’s results for the first quarter. Thanks to strong operating indicators, new, but already demanded corporate and retail products, we earned 630 million rubles of net profit that is twice as high as compared to the first quarter of last year. The gradual economic recovery also had a positive impact on our performance», - commented on the results of the Bank's performance Aleksey Korovin, Chairman of the Management Board.
Key financial indicators:
|
Q1 2021 |
Q1 2020 |
Return on assets (ROA) |
2,1% |
1,4% |
Return on equity (ROE) |
14,5% |
8,5% |
Net interest margin (NIM) |
8,9% |
8,4% |
Cost of risk (CoR) |
3,8% |
2,7% |
Operating efficiency (C/I) |
49% |
64% |
Loan portfolio of the Bank increased from RUB 73 bn to RUB 81 bn for Q1 2021.
General administrative expenses decreased by 35% from RUB 721.5 mm to RUB 471.4 mm as compared to the same period of 2020. As a result, Cost to Income Ratio fell below 50%.
Net interest income for Q1 2021 reached RUB 2.15 bn comparing to RUB 1.6 bn for the same period of 2020. Operating income increased to RUB 3.17 bn for 3 months 2021 from RUB 2.7 bn for Q1 2020.
The Bank's total equity grew to RUB 18.2 bn from RUB 17.9 bn comparing to the beginning of the year. The Bank complies with all the requirements for capital adequacy premiums.
According to Frank RG, as at April 1, 2021 the Bank ranks 6th in terms of total retail loan portfolio and 9th in terms of retail deposits portfolio in presence regions; in the Far East the Bank ranks 4th in terms of consumer loans provided, shows highest growth in mortgage lending, ranking 5th by volume of sales.
Media contacts:
Dmitry Borshchevsky
borschevsky@msk.atb.su
+7-985-455-7226