Despite all the negative effects of Covid pandemic, our portfolio of loans to small businesses grew by 32 %

Total assets of the bank grew by 16 % and reached 742.6 million Rub, where total loan portfolio increased by 27 %, of which growth of loans to small businesses exceeded 32 % and reached 520.4 million Rub.  Our reserve coverage ratio stood at 8.8 % of all loans, where loans with delayed payments was under 6.7 % of total loans.  Overall 68 % of total assets were loans extended to customers.

As of the end of August 31st, 2020 bank’s portfolio of guarantees and letters of credit exceeded 210 million Rub.

Due to new customers attracted during this period our customer balances grew by 24.5 % and exceeded 366.3 million Rub, including customer time deposits.

Bank’s operating income reached 80.9 million Rub, operating expenses stood at 72.5 million Rub, generating a net operating income of 8.5 million Rub.  Monthly operating expenses reduced by more than 12 %.