Monday, June 18, 2018

Alfa-Bank sees asset increase in first half of 2014

Alfa-Bank released the financial results for the first half of 2014 last week, noting an overall increase in assets.

As of June 30, Alfa-Bank held a total of $49.8 billion in assets, a 2.4 percent increase over the $48.6 billion it held as of December 31, 2013. Additionally, the bank's gross corporate loans grew from $27.8 billion to $28.6 billion--an increase of three percent. Total loans increased by 12.8 percent, marking a 12.8 percent increase over last December's $6.2 billion.

The bank retained its position as the top Russian private bank in respect to total assets and equity this year, and it also leads other private banks in its number of customer accounts and robustness of its loan portfolio. As of the end of the first half of 2014, Alfa-Bank holds a three percent market share in the retail lending market and a 6.9 percent market share in retail demand accounts.

Alfa-Bank also reported growth in its funding base during the first half of the year, noting a six percent increase in total customer accounts over the second half of 2013. Total customer account holdings grew from $26.7 billion to $28.3 billion. Corporate customer accounts during the first half of the year did not grow considerably over the second half of 2013, but they did contribute to the bank's overall equity increase of 4.3 percent.

Alfa Banking Group, as a whole, posted year-on-year growth in such segments as net interest income and net fee/commission income of 10.8 and 10.6 percent, respectively. Operating profit for Alfa-Bank's parent company increased 5.4 percent over the second half of 2013 to reach $1.53 billion. Net profits decreased to $237 million in the first half of 2014, compared to the $479 million posted in the first half of 2013.

Alfa Banking Group's IFRS statements for the first half of the year have been reviewed by PricewaterhouseCoopers.