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Monday, April 6, 2020

PSB reports profit losses, gain in assets

Russian bank Promsvyazbank (PSB) recently released its third quarter report, which noted growth in total assets, net interest income and decreased profit from the same period in 2013.

For the first nine months of 2014, PSB posted 94 million rubles in profit, failing to beat the 4.8 billion rubles it posted for the same time period in 2013. This is a result of transactions with securities, resulting in a 2.6 billion rubles loss in the first quarter.

Net interest income grew by 13 percent from the same time last year, amounting to 26.3 billion rubles. Net fee and commission income grew 43 percent.

At the beginning of October, the bank posted 905 billion rubles in assets, which grew by 23 percent compared to last year. It also showed gains in its corporate loan portfolio, which increased by 30 percent, and loans to individuals increased by 31 percent, 23 percent if one-time private clients from the second quarter are excluded.

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Promsvyazbank - Russia

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