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Sunday, August 20, 2017

Otkritie bank revenue up 38.7 percent in 9-month period

Otkritie Financial Corporation Bank, in a report released last week, said that for the first nine months of 2014, it experienced growth in several areas.

Overall revenue saw an increase of 38.7 percent over the same period in 2013, at $910.3 million, with net profits at $112.7 million.

Return on equity fell 2.6 percent compared with 2013, at 14.9 percent.

Operating-income growth was attributed to increases in net interest income, commission income and income from net fees. Net fee and commission income increased 52.6 percent over the comparable  2013 period, at $170.7 million. The bank's retail business division made up approximately half of the earning stated in this report.

It also was able to shave 4.4 percent off operating expenses. In the first nine months of 2014, the bank's total assets have grown by 10 percent.

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