The bank earned net profit of Rub 0.5 billion for 6M 2016 compared to a net loss of Rub 0.6 billion for the same period of 2015. Such improvement was caused mainly by a cost-of-risk decline and net fees & commissions growth.
For the first time in the last year and a half the bank’s ROE turned positive and was 14.0% for Q2 2016. ROA for the same period reached 1.39%.
According to the preliminary reporting (published form) under the Russian Accounting Standards (RAS), PSB net profit for the 1H 2016 amounted to RUB 2.8 bn, compared to RUB 8.6 bn for the same period last year. 1H 2016 income from core banking activity (interest income and fee and commission income) increased by 27% and amounted to RUB 23.7 bn.
Belarusbank and a syndicate of Russian banks signed a syndicated loan agreement on the sidelines of the 21st Saint Petersburg International Banking Conference. The official signing ceremony was held on 15 July 2016
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