119 Offices in Russia

Tatfondbank Reviewed Its Performance for 9 Months of 2016 under IFRS

30 November 2016

The profit of the Tatfondbank’s banking group, according to unaudited financial statements for nine months of 2016 under International Financial Reporting Standards (IFRS) totalled RUB 98 million, which exceeds the figure for the previous year by RUB 4.8 billion. In 2015, Tatfondbank recorded a loss, which was connected with the increased cost of liabilities after the sharp increase of the key interest rate.

The financial result for 9 months of 2016 is explained by the growth of interest income, which totalled RUB 4.7 billion, and the growth of the value of securities. The Bank’s net interest income increased from RUB 736 million up to RUB 4.7 billion, and its net fee and commission income totalled RUB 902 million. Expenses related to the creation of provisions have reduced compared to the similar period of the previous year by RUB 1.3 billion.

At 30 September, Tatfondbank was on the top 50 list of Russia’s largest banks, its assets totalling RUB 221 billion, and is the second largest bank of the Republic of Tatarstan.

At present, the Bank provides services to more than 35 000 entrepreneurs and organisations. At 30 September 2016, RUB 140 billion of customer funds was placed with the Bank: RUB 108 billion on retail accounts and RUB 32 billion of corporate accounts. For 9 months of 2016 the Bank’s loan portfolio has grown up to RUB 157 billion, of which RUB 29 billion were represented by retail loans and RUB 128 billion – by corporate loans.

Previous Back Next