Press Releases

Renaissance Credit discloses RAS results for 9/2019


21 October 2019

Renaissance Credit disclosed financial results for the first nine months of 2019 in accordance with the Russian Accounting Standards (RAS).

The bank reported net profit of 5.2 billion roubles which is 5.4% above the level of 9/2018 (4.9 billion roubles).

Net interest income for 9/2019 reached 18.9 billion roubles (+27.0% versus 9/2019). Commission income equaled 6.0 billion roubles.

Assets as at 1 October 2019 stood at 158.9 billion roubles.

Net retail loan portfolio for the reporting period attained 132.5 billion roubles *. Retail loan origination in January – September 2019 equaled 103.0 billion roubles.

The portfolio of retail deposits and retail accounts stood at 118.4 billion roubles at the end of 9/2019.

Operating income for 9/2019 increased by 8.8% versus 9/2018 while operating expenses remained on the same level.

Comment by Alexey Levchenko, Chief Executive Officer of Renaissance Credit: “We consistently adapt out business to the changing market conditions maintaining focus of such performance indicators as asset quality, operating effectiveness and profitability.”

* Data on retail portfolio evolution, origination, operating income and expenses are provided in accordance with the management reporting of the bank.