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5 months ago
BRIEF-Russia's Bank Vozrozhdenie plans to increase net profit to over RUB 3 bln in 2017
March 21, 2017 / 11:15 AM / 5 months ago

BRIEF-Russia's Bank Vozrozhdenie plans to increase net profit to over RUB 3 bln in 2017

March 21 (Reuters) - Russia's lender Bank Vozrozhdenie:

** Expects net profit for 2017 of over 3 billion roubles ($52.50 million) compared to 2.1 billion roubles it reported in 2016, the bank's deputy chairman of the management board Andrey Shalimov said

** Credit portfolio growth in 2017 is expected at 10-12 percent

** Main drivers of the growth will be small and medium business (SME) segment and retail portfolio, mainly mortgage, while growth in corporate loans is not expected, Shalimov said

** The bank sees total retail portfolio growth in 2017 of 35 billion roubles, of which 20 billion roubles would come from mortgage

** Plans a two-fold increase in SME loans this year

For further company coverage For the story in Russian, click ($1 = 57.1410 roubles) (Reporting by Kira Zavyalova in Moscow, translated by Gdynia newsroom)

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