Gazprombank boosts IFRS net profit 80% to 26.2 bln rubles in H1
MOSCOW. Aug 30 (Interfax) - Gazprombank posted an IFRS net profit of 26.2 billion rubles in the first half of 2017, 80% more than the net profit in the same period last year, the bank said in a press release.
Provision costs totaled 6.7 billion rubles in H1 2017 compared to 17.9 billion in the same period last year. The bank's cost of risk fell to 0.3% from 0.9% in H1 2016.
Gazprombank's total assets amounted to 5.184 trillion rubles as of 30 June 2017, up 6.3% from the start of the year. Loans to corporate customers fell 0.7% in this period to 3.152 trillion rubles while the retail loan portfolio increased 2.8% to 338.3 billion rubles.
Shareholder equity to IFRS rose 13.5% from the start of the year to 561.4 billion rubles on June 30.
Gazprombank was the third biggest Russian bank by assets as of the end of the first half of 2017 according to the Interfax-100 ranking compiled by the Center for Economic Analysis.
