Press Releases

Renaissance Credit discloses RAS financial results for 1H2019

22 July 2019

Renaissance Credit disclosed financial results for the first half of 2019 under the Russian Accounting Standards (RAS).

The bank reported net profit of ₽3.9 bn roubles which is 35% above the level of 1H2018 (₽2.9 bn).

Net interest income for 1H2019 reached ₽12.4 bn which is 30% above the level of 1H2018. Commission income increased by 7% versus January–June 2018 and attained ₽4.0 bn.

Assets at the end of 1H2019 equaled ₽162.3 bn.

Net portfolio of retail loans as at 1 July 2019 reached ₽132.0 bn*. Retail loan origination during January–June 2019 amounted to ₽70.2 bn.

Portfolio of retail deposits and retail accounts at the end of 1H2019 attained ₽123.2 bn.

Operating income increased by 15% versus January–June 2018 while operating expense remained stationary.

Comment by Alexey Levchenko, CEO of Renaissance Credit: “We maintain our focus on quality and return on assets, as well as improvement of operating effectiveness. This approach allows the bank to demonstrate stable sound performance and keep the profitability of business on the target level.”

* Data on evolution of retail loan portfolio, portfolio origination, operating income and expense are provided on the basis of management reporting of the bank.