Vozrozhdenie Bank released preliminary performance results for 2014 on Tuesday, in accordance with Russian

Accounting Standards.

The bank reported asset growth of 9.5 percent in 2014, with assets at approximately $3.7 billion by the end of the year. The bank said there were decreases in its loan portfolio due to turbulent macroeconomic conditions in the Russian Federation.

“In 2014, we managed to deliver on the main targets set for the bank and progressed in implementation of our strategic plans. The bank was well-prepared for adverse macro scenarios that we have faced throughout the reporting period," Alexander Dolgopolov, the bank's management board chairman, said. "Conservative credit policy and tightened risk management allow us to control credit and liquidity risks, and restrain pressure on capital.”

The bank also reported growth in capital by 10.5 percent, which amounted to approximately $393 million in 2014.