Profit of Locko-Bank exceeds RUB 1.7 billion under RAS for 9M2015

In the 3rd quarter of 2015 LOCKO continued to deliver growth of economic performance, maintaining high return- on-assets and return-on-equity ratios, which is confirmed by RAS.

Assets of LOCKO comprised RUB 97.55 billion and increased by RUB 18.5 billion during 9 months which showed the 23,4% growth. Return-on- assets equaled to 2,76% in the period under review. Shareholders' equity (under Basel III Accord) grew by RUB 1.4 billion for nine months and became RUB 11.47 billion as of 01.10.2015, a 15,2% increase compared to 9M2014. Return- on- equity increased on 14.4 ppt and performed 21,53%.

Interest income increased by RUB 1.9 billion and totaled to RUB 8.38 billion, a 29% growth compared to the same period in 2014. Interest expenses increased by 70.2% or by RUB 2.3 billion in absolute terms, which was driven by the bank’s funding increase.

Through the proceeding of costs optimization program operating expenses of LOCKO decreased by 3.5% to RUB 2,07 billion during 9 months of 2015 compared to the same period last year.

In the 3rd quarter of 2015 net profit under RAS continued its growth and amounted to RUB 1.76 billion as of 01.10.2015 which reflects a 137% increase compared to 3Q2014. Along with this only for last 3 months LOCKO recorded net profit of RUB 614 million, a 62% growth compared to last year's figure.

Bank’s regulatory ratios performed healthy stable levels with regard to minimal required capital ratios during whole period under review. As of 01.10.2015 capital ratios were:

• Н1 (capital adequacy ratio, required - 10%) - 13,0%;
• Н2 (quick liquidity ratio, required - 15%) - 128,5%;
• Н3 (current liquidity ratio, required - 50%) - 159,2%.