Russian Standard Bank boosts IFRS net losses 4.6-fold to 22 bln rubles in H1
MOSCOW. Aug 31 (Interfax) -Russian Standard Bank in H1 2015 increased net losses to International Financial Reporting Standards (IFRS) by 4.6 times to 21.955 billion rubles against 4.758 billion rubles in H1 2014, the credit organization said in a report.
Net interest income fell by 73% to 6.787 billion rubles. Transfers to provisions for possible losses on loans rose 19% to 27.84 billion rubles.
The bank's assets fell by 7% since the end of 2014 to 381.622 billion rubles at the end of June (on December 31, 2014 - 411.093 billion rubles).
Russian Standard Bank's total loan portfolio in H1 2015 fell by 24.5% to 143.548 billion rubles at the end of June. In particular credit card debt fell by 8% to 127.1 billion rubles, cash loans fell by 49% to 45.6 billion rubles, POS loans by 48% to 9.7 billion rubles.
Loans to legal entities rose by 12% to 13.066 billion rubles.
Total volume of raised funds of clients in January-June rose by 4% to 178.646 billion rubles.
The bank's capital fell by 96% 0.637 million rubles at the end of June 2015 from 16.057 billion rubles at the end of December 2014. For the year capital fell by 98% from 27.835 billion rubles at the end of June 2014.
In H1 2015, Russian Standard Bank was Russia's 20th largest banks by assets, according to the Interfax-100 ranking. The main beneficiary of the bank is Rustam Tariko.