1 H 2013 performance results of OJSC Nordea Bank

17.07.2013

1 H 2013 performance results of OJSC Nordea Bank

In 1H 2013 OJSC Nordea Bank reported growth in the majority of key performance indicators.

 

At the end of 2Q 2013, capital of OJSC Nordea Bank amounted to RUB 34.01 bn (a 9% growth year-on-year). Total assets grew up to RUB 268.71 bn while the total loan portfolio rose by 3.2% YoY and reached RUB 247.76 bn.

Corporate loan portfolio amounted to RUB 168.93 bn as of 01 July 2013. Retail loan portfolio grew by 20% YoY up to RUB 19.485 bn.

The 1 H 2013 net profit amounted to RUB 1.65 bn (a 63.4% growth YoY). The rise in net profit was due to a reverse of provisions for possible loan losses due to full repayment of the amount outstanding under a loan which for some time was regarded as non-performing.

- In 1 H 2013 OJSC Noreda Bank continued to increase its overall loan portfolio against the background of flat expenses and adherence to the conservative risk assessment approach. The Bank’s net profit continued to rise which became the best evidence of its growing efficiency. We have met business expansion targets set for the Bank despite an overall slowdown witnessed by domestic lending market. The success was due to strict adherence to our business development strategy, introduction of state-of-the-art technologies, a focus on customers and well-coordinated joint efforts of a close-knit team of highly professional staff of the Bank, says Igor Bulantsev, Chairman of the Management Board of the Bank.

A brief overview of H1 2013 results as compared to H1 2012
(H1 2013 vs 2012)

  • Capital grew by 6.6% (a 3.4% growth)
  • Assets slid by 0.2% (a 2,0% growth)
  • Loan portfolio grew by 3.2% (a 15.5% growth)
  • Net profit grew by 63.4%

Key performance indicators of OJSC Nordea Bank (IFRS, billions of Roubles)

Date

01 Jan 2012

01 Jan 2013

01 Jul 2013

Capital

31.19

32.80

34.01

Assets

269.16

263.45

268.71

Credit portfolio (including loans to banks), including:

240.18

214.51

247.76

Loans to legal entities

190.60

167.03

168.93

Loans to individuals

16.23

17.38

19.48

Due to customers

107.87

96.95

85.01

Net profit

1.01

2.03

1.65


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