Bank Saint Petersburg recently announced its performance for the first half of 2014 under Russian accounting standards (RAS).

The bank said net income for the period increased three times compared to the same period last year, amounting to $86.4 million.

Net interest income for the first half of the year jumped by 48.4 percent, compared to the same period in 2013, reaching $237.1 million. Net fee and commission income rose by 14.6 percent, compared to 2013, totaling $39 million.

In addition, retail customer deposits in the first half of the year increased by 2.7 percent, to reach $3.3 billion, while total capital as of July 1 amounted to $1.3 billion.

According to Interfax rankings, Bank Saint Petersburg is the 15th biggest bank in Russia in terms of assets and 16th in terms of retail deposits. The bank serves more than 1.4 million individuals and approximately 55,000 corporate clients.