16 Nov 2012 16:01

Vozrozhdenie Bank increases IFRS net profit by 60% in 9mths - consensus forecast

MOSCOW. Nov 16 (Interfax) - According to a consensus forecast of bank and investment analysts surveyed by Interfax, Vozrozhdenie Bank's net profit according to international financial reporting standards (IFRS) for January-September 2012 will come to 1.817 billion rubles, up from 1.123 billion rubles in the same period of 2011.

They also forecast that net interest revenue in the nine months went up by 27.3% to 6.674 billion rubles.

The bank's assets, according to the forecast, reached 194.692 billion rubles as of September 30, 2012, up 10.2% from 176.746 billion rubles for January-September 2011. This figure increased by 5.9% since the start of 2012 and 0.4% for the third quarter.

The loan portfolio prior to the subtraction of provisions for the year increased by 11.4% to 152.291 billion rubles as of September 30, 2012, from 136.691 billion rubles posted for January-September 2011. The entire portfolio for January-September increased by 10.9% from 137.348 billion rubles on January 1, 2012. The figure practically went unchanged for the third quarter (it totalled 152.276 billion rubles for the second quarter).

Transfers for forming provisions for loan portfolio depreciation in the third quarter reached 933 million rubles, up 12.4% from 830 million rubles in the second quarter.

Vozrozhdenie Bank plans to publish its IFRS results for January-September 2012 on Tuesday, November 20.

Analyst forecasts for Vozrozhdenie Bank's financial results in 9mths (in mlns of rubles):

Investment bank Net profit Net interest revenue Assets Loan portfolio Reserves*
JP Morgan 1875 6614 196503 151101 -834
Goldman Sachs 1762 6662 194360 151534 -1063
BofA Merrill Lynch 1746 6725 196134 152167 -875
Sberbank Investment Research 1822 6685 194689 151983 -933
VTB Capital 1804 6660 192499 152276 -1006
Uralsib Capital 1752 6665 194703 151101 -1020