Center-invest Bank has presented its results for 2017, based on its IFRS financial statements audited by PricewaterhouseCoopers Audit. This is the 22nd year that the bank has been audited under IFRS. The bank demonstrated high-quality growth for its key performance indicators and strengthened its market positions.
The bank’s IFRS financial statements for 2017 confirm the effectiveness of its transformational banking business model, which includes environmental and social responsibility requirements.
In 2017, net profits calculated under IFRS were RUB1.43bn, 42% up on the previous year. Total assets exceeded RUB102.6bn at FYE, an increase of 6%, and capital calculated under IFRS increased by 10% to RUB12.6bn.
The bank achieved strong growth in its loan and lease portfolio, which stood at RUB80.1bn at FYE (+9%). Customer deposits increased by 8.4% during the accounting period, to RUB87.2bn.
In 2017, thanks to highly effective teamwork, Center-invest Bank improved its position in the markets in which it operates, increased its customer base, and strengthened its position as one of Russia’s leading regional banks by assets, capital, and loan and deposit portfolios.
- share of the retail and SME lending market in southern Russia increased to 40%;
- 37% share of the deposit market;
- number of business customers increased by 7%;
- number of retail customers increased by 30% to 1,500,000.
In December 2017 Moody’s Investors Service affirmed Center-invest Bank’s Ba3 rating for long-term local and foreign-currency deposits, outlook stable. Center-invest Bank is the only bank in southern Russia to have held an international rating since 2006.
The auditor’s report is available on our website.: https://www.centrinvest.ru/files/about/reports/audit(en)/CIB_IFRS_208FZ_AUDIT_RPRT_2018_ENG.pdf