Press Releases
Net Profit of Renaissance Credit in the First Half of 2021 Amounted to ₽1.4 bn. Under IFRS
13 September 2021
Renaissance Credit has announced its audited financial results for 1H 2021 in accordance with International Financial Reporting Standards (IFRS).
Net profit - ₽1.4 bn.
Retail loan origination - ₽50.8 bn.
Net loan portfolio - ₽102.9 bn.
Assets for the reporting period increased by 2.9%
Net profit for the reporting period amounted to ₽1.4 bn.
Net interest income after expenses on credit losses for 1H 2021 amounted to ₽6.5 bn., with operating income of ₽7.3 bn
The volume of loans provided to individuals amounted to ₽50.8 bn.
The net loan portfolio at the end of the first half of 2021 amounted to ₽102.9 bn., having decreased by 1.1% over the reporting period. At the same time, cash loans formulate 62.0% of the portfolio, consumer purpose loans - 31.4%, credit cards - 6.6%.
At the end of the 1H 2021, the share of non-performing loans past due more than 90 days (NPL90+) in the retail portfolio - 6.1%.
The main source of funding for the bank remain customer funds, amounting to ₽97.1 bn. as of July 1st, 2021
The cost to income ratio for the reporting period amounted to 54.9%.
According to the results of the first half of 2021, shareholder equity elevated to ₽33.1 bn., demonstrating an increase of 4.4%. Tier 1 Capital Adequacy Ratio (Basel) - 27.5%.
Key performance indicators for 1H 2021: ROAE - 8.5%; ROAA - 1.9%.
Key Performance Indicators
|
₽ mln |
01.07.2021 |
01.01.2021 |
Change |
|
Assets |
142 539 |
138 509 |
2,9% |
|
Net loan portfolio |
102 949 |
104 063 |
-1,1% |
|
Due to clients |
97 143 |
97 570 |
-0,4% |
|
Equity |
33 125 |
31 740 |
4,4% |
|
|
1H2021 |
1H2020 |
|
|
Loan origination |
50 758 |
34 815 |
45,8% |
|
Net interest income after credit loss provisions |
6 485 |
2 907 |
123,1% |
|
Operating income |
7 295 |
3 987 |
83,0% |
|
Net profit |
1 384 |
-718 |
-292,9% |
|
Key ratios |
|||
|
% |
1H2021 |
1H2020 |
|
|
NPL 90+ |
6,1% |
9,1% |
|
|
Cost of risk (CoR) |
4,8% |
13,2% |
|
|
Cost-to-income |
54,9% |
37,0% |
|
|
Net interest margin (NIM) |
13,9% |
16,7% |
|
|
Capital adequacy ratio (CAR) |
27,5% |
21,3% |
|
|
Return on Average Equity (ROAE) |
8,5% |
-4,8% |
|
|
Return on Average Assets (ROAA) |
1,9% |
-0,9% |