Russia's Bank Petrocommerce recently reported results for the first six months of this year, announcing a profit of $55 million.
"Bank Petrocommerce continues to focus on boosting its capitalization and business efficiency by cutting costs and enhancing stronghold in the core segments generating high margins," Bank Petrocommerce CFO Elena Korekhova said.
The bank's interest income jumped by 23 percent to reach $280 million, while net fee and commission income rose by two percent to $30 million and net assets increased by eight percent to $7 billion.
The SME loan portfolio rose almost 30 percent to $35 million, compared to the average market growth of four percent. The corporate loan book expanded by five percent to $3.4 billion and the retail loan portfolio increased to $70 million.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme