Vozrozhdenie Bank (VB) released its results, under Russian Accounting Standards (RAS), for 2014 on Thursday, reporting increases in several areas, including assets, customer funds and overall net profit.
In the area of net profits, deferred tax assets of approximately $22 million was a large portion of the 51.2 percent growth in this area. The year's total was approximately $35.4 million. In operating income, fee income dropped to 28.1 percent, and interest income grew to 66.3 percent.
Customer funds reached approximately $3 billion, which the bank said is an increase of 7.4 percent. Retail deposits increased significantly over the course of 2014, growing by 20.6 percent and reaching approximately $1.8 billion.
As of the first day of 2015, the bank reported assets of $3.8 billion, which is an increase of 9.5 percent over results from 2013. Net loan indebtedness accounted for 69.9 percent of asset structure within VB.
Consolidated International Financial Reporting Standards will be published on March 25.