LOCKO-Bank announces its consolidated Financial Statements for the 9 months ended 30 September 2017 in accordance with International Financial Reporting Standards (IFRS).
LOCKO-Bank’s key indicators of statement of profit or loss as of September 30, 2017:
Review of LOCKO-Bank’s key financial indicators:
Key financial ratios, %:
Operating income increased by 11% compared to 9M2016 and amounted to RUB 5.8 bn.
The share of net fee and commission income was 24.5% compared to 20.1% in 9M2016.
SME loan portfolio decreased and amounted to RUB 11 bn. The share of loans to SME totaled 23.4% from Bank’s total loan portfolio.
Retail loan portfolio amounted to RUB 29 bn performing a 38.2% growth. The growth of the loan portfolio is due to the modernization of business processes and start of federal advertising campaign. At the same time, the bank maintained a conservative approach to credit risk assessment.
The high quality of the loan portfolio is one of the bank's priorities. Based on the results of 9M2017, the share of non-performing loans in the loan portfolio (NPL 90+) increased by only 0.04 percentage points compared to 2016 and amounted to 7.7%.
As for September 30st, 2017 the Bank was represented by 50 branches in 21 economic regions of Russia.
Stanislav Boguslavsky, Chairman of the Board of Directors, commented:
«According to the approved strategy, Locko-Bank continues to develop digital technologies in all business areas in 2017. The main reason for the growth of the loan portfolio is the transformation of business processes that provided the transition to a digital model of customer service. We continue to develop innovative solutions that allow customers to receive services remotely, without visiting the bank's branches.
The bank continues to actively develop the retail business, especially in terms of lending activities, while maintaining an adequate level of risk and high profitability».