Asian-Pacific Bank has summed up its 3Q 2013 performance under the Russian accounting standards (RAS).
According to 102 reporting form the Bank’s net income (after tax deductions) reached RUB 1,974.9 mln, which is lower than the net income for the 3Q of 2012 by 15.7%. The main reason for decline in net income is 189.5% growth of impairment losses: RUB 3,595.2 mln as for 9 months of 2013 compared to RUB 1,241.8 mln as for 9 months of 2012.
Due to the growth of the loan portfolio net interest income grew by 27.5% yoy to RUB 6,148.2 mln. Net fee and commission income of Asian-Pacific Bank grew 25.8% yoy and reached RUB 2,288.1 mln.
Return on average equity reached 22.5% (annualized) as for the nine months of 2013, return on assets is 2.6% and cost-to-income ratio is 37.3%.
According to preliminary financial results from reporting form under RAS the Bank’s assets increased by 27.8% ytd and reached RUB 112,685.2 mln.
Loan portfolio before impairment provisions increased by 31.6% ytd and amounted for RUB 79,485.1 mln.
The amount of deposits by individuals increased by 13.6% ytd to RUB 47,975.1 mln while the amount of deposits by corporate clients (which are not credit institutions) reached RUB 31,165.7 mln, exceeding the previous year results by 32.4%.

The Bank’s equity amounted for RUB 12,781.0 mln as for the reporting date (20.0% growth ytd). RAS capital adequacy ratio (N1) is 11.8%.