NBR’s Q1 2013 net profit exceeded Q1 2012

NBR’s Q1 2013 net profit exceeded Q1 2012

As of 01.04.2013, the capital of Nordea Bank Russia (NBR) amounted to RUB 33.62 bn (up 11% YoY). NBR’s equity grew 10% compared to Q1 2012, reaching RUB 27.29 bn.

As of 01.04.2013, NBR’s credit portfolio totaled RUB 193.10 bn. The year-on-year decrease thereof reflects a number of corporate loan repayments and prepayments. However, the retail portfolio showed a growth (to RUB 18.03 bn – up 17% YoY).

In Q1 2013, NBR’s net profit amounted to RUB 0.93 bn (a more than double increase from last year). The net profit increase is among others thanks to a reversal of the provisions previously created for a problem borrower (full repayment).

NBR’s key financials (IFRS, bn. RUB)

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