Tinkoff Bank expects to get more profit for 2015 than originally planned
The Oleg Tinkov Bank Enterprise published IFRS reporting documents for the third quarter of 2015, according to which the bank's net profit for the specified period amounted to 0.7 billion rubles. Inspired by the results, the bank’s management now intends to earn at least three times more than the originally planned figure of 0.5 billion rubles in the outgoing year.
According to Kommersant, the successful financial performance of Tinkoff Bank in the third quarter is due to increased profitability. For example, net interest income increased to 7.2 billion rubles, showing an increase of 12%, while net interest margin increased by 4% compared to statistics for the second quarter. The bank recently resumed issuing credit cards, but the policy of maintaining credit limits and underwriting remains the same.
Oleg Tinkoff Bank showed an increase in profits in the second quarter in a row. Thus, in the period from April to June, the company earned 0.4 billion, and in the third - and only 0.7 billion rubles at all, although financial forecasts did not foretell the achievement of a mark of half a billion. Taking into account the results achieved, the banking group now plans to earn about 1.5 billion rubles by the end of 2015, although last month net annual profit at the level of 0.5-1 billion rubles was expected
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However, as Oliver Hughes, the chairman of the bank, notes, the successful achievement of the new planned goals directly depends on the stability of the economic situation in the country. Recall that in the first three months of this year, the bank suffered losses of 200 million rubles. Yes, and some figures for the third quarter do not look optimistic. Thus, the share of overdue loans by the end of October amounted to almost 14%, spending on reserves for loan impairment reached 3.6 billion rubles, while the total loan portfolio rose to 98 billion rubles, showing an increase of only 3.1%.
According to Kommersant, the successful financial performance of Tinkoff Bank in the third quarter is due to increased profitability. For example, net interest income increased to 7.2 billion rubles, showing an increase of 12%, while net interest margin increased by 4% compared to statistics for the second quarter. The bank recently resumed issuing credit cards, but the policy of maintaining credit limits and underwriting remains the same.
Oleg Tinkoff Bank showed an increase in profits in the second quarter in a row. Thus, in the period from April to June, the company earned 0.4 billion, and in the third - and only 0.7 billion rubles at all, although financial forecasts did not foretell the achievement of a mark of half a billion. Taking into account the results achieved, the banking group now plans to earn about 1.5 billion rubles by the end of 2015, although last month net annual profit at the level of 0.5-1 billion rubles was expected
')
However, as Oliver Hughes, the chairman of the bank, notes, the successful achievement of the new planned goals directly depends on the stability of the economic situation in the country. Recall that in the first three months of this year, the bank suffered losses of 200 million rubles. Yes, and some figures for the third quarter do not look optimistic. Thus, the share of overdue loans by the end of October amounted to almost 14%, spending on reserves for loan impairment reached 3.6 billion rubles, while the total loan portfolio rose to 98 billion rubles, showing an increase of only 3.1%.
Source: https://habr.com/ru/post/296902/
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