Net profit of the Bank “East” according to IFRS in the 1st quarter increased by 4.6%

Чистая прибыль банка "Восточный" по МСФО в 1-м квартале выросла на 4,6%

Net profit of the Bank “East” according to IFRS in the 1st quarter of 2020 increased by 4.6% – to 2.5 billion rubles, follows from the report of the credit institution.

Customer funds in the Bank “East” in the January-March decreased by 4.7% to 145,6 billion from 152,8 billion. This decrease occurred due to the reduction of the volume of funds of natural persons by 4.3% to 141,4 billion.

“East” said that has a good level of liquidity. “The amount of highly liquid assets held by the Bank, adequate to service all customers and make payments in full volume even under relatively adverse events, for example, with the drastic reduction of individuals’ deposits by more than 25% of the total amount on 31 December 2019 as a result of demanding the return of deposits right now,” the report says.

The Bank’s assets for January-March fell by 2.9% to 188.3 billion rubles.

Loan portfolio before provisions in the 1 quarter of 2020 has not changed and amounted to 139.7 billion, after provisions decreased by 0.9% to 110.1 billion rubles.

Equity for the first quarter of 2020 increased by 8.2% to 32 billion rubles. The growth of this indicator occurred at the expense of profit.

Evison Holdings (controlled by Baring Vostok) now owns 41,63% of the capital (42,33% of votes) of the Bank “East”, “Pinvin holdings” Artem Avetisyan from 42.01% of the capital (47,72% of the votes).

Bank “East” in the first quarter of 2020 took 40th place in terms of assets in ranking “Interfax-100” prepared “Interfax-TSEA”.

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