ProCommerce Bank completed 2015 with stable financial results

• Despite a contracting economy in 2015, ProCommerce Bank successfully completed the year with positive financial results: Operational Income reached Rub 137.1 million, Net Interest Income increased by 14% to Rub 75.8 million and Net Commission Income increased by 10.5% to Rub 71.7 million.

• Overall performance of the Bank, Income before taxes reached Rub 15.2 million, being at the levels of 2014 (Rub 15.7 million). despite a much more difficult year.

• Main business model of the Bank continued to be servicing and crediting of Small and Medium size enterprises (SMEs).

• While asset size of Bank didn’t increase considerably, internal structure of assets as well as the maturity matching of assets and liabilities improved fundamentally.

• Total Gross Loans exceeded Rub 436 million, where ratio of Non-performing Loans reached 7.88%.  Bank covered 100% of such loans with reserves and overall reserve coverage ratio stood at 10.98% of all loans.

• Shareholders’ Equity increased by 4% and exceeded Rub 332.8 million.

• As of the end of 2015 the Capital Adequacy ratio stood at level of 42.54% giving Bank amplitude opportunity to grow its business further without the need of any capital increase.