Sunday, July 15, 2018

Otkrite Banking Group named among top banks in Russia

Otkrite Banking Group was named one of the top 75 banks in the Expert-400 ranking system of companies within the Russian financial sector, the bank said Monday.
Export-400 analyzes the largest companies in Russia and their effect on economic development through the country.
The ranking is based on the amount of sales and volume. The rankings are done in several sectors in the Russian economy. For banks, it is the total interest and commission income reported under the International Financial Reporting Standards (IFRS,) excluding deductions.
The group grew in both metrics, with interest growing in line with the increasing size of the loan portfolio, exceeding the market average. Cross-selling allowed the bank to increase commission income.
By the close of 2013, the group's sales grew by more than 40 percent, almost 110 billion rubles. This growth boosted the group up 23 spots compared to the 2012 rankings.

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