Friday, August 18, 2017

Nomos Bank's credit portfolio increases 6.2 percent in first quarter

Nomos Bank's credit portfolio increased by 6.2 percent to $2.87 billion in the first quarter, exceeding the market average of 4.4 percent.

For Nomos' total portfolio, which includes corporate, retail, investment and small business, the share of retail loan portfolio reached 15.1 percent as of March 31.

"In the first quarter of this year, the retail business of the Group, NOMOS-BANK has shown strong growth in all areas," Nomos Deputy Chairman Elena Budnik said. "The dynamics of growth of key indicators indicative of the successful implementation of programs targeting different categories of private clients."

Individual accounts for Nomos Bank totaled $4.79 billion, around 31.1 percent of total deposits of corporate, retail, investment and small business groups. The number of retail customers amounted to approximately 1.5 million. The group has more than 300 offices and 19,000 ATMs.

Operating income before provisions for impairment of retail business for the reporting period totaled $100 million, or 29.6 percent of the aggregate in four key business areas of the bank.

For the first quarter, segment net income totaled $20 million, increasing 1.3 times compared with the first quarter of last year.

Nomos Bank is the sixth largest Russian banking group by assets and one of the two largest Russian private universal banks.