According to the press service of the bank, Sovcombank’s net profit for the 1st quarter of 2023 increased by 23 billion rubles, assets increased by 2.3 trillion rubles, and capital – 12% (214 billion rubles).
Sovcombank’s mortgage portfolio grew by 4% (to 188 billion rubles), its auto loan portfolio grew by 6% (to 171 billion rubles), and its halva card portfolio grew by 9% (to 123 billion rubles).
The portfolio of loans to large companies increased by 7% (up to 654 billion rubles) in 3 months, and the volume of loans to SMEs increased by 3% (up to 157 billion rubles).
“The first quarter of this year was a successful one for the bank. The bank doubled its 2021 result due to regular profit and one-time income. “We used the period of the Central Bank of Russia’s supportive measures to cover losses from the freezing of assets abroad and grow in key indicators,” said Sergey Khotimsky, First Deputy Chairman of the Board of Directors of Sovcombank.
The Analytical Credit Rating Agency (ACRA) confirmed Sovcombank’s credit rating as AA-(RU) in April 2023, removing the “under review – developing” status and changing the outlook to “stable”.
Again in July 2023, Expert RA rating agency confirmed Sovcombank’s credit rating at “ruAA” and determined its rating outlook as “stable”.
In addition, according to the results of the 1st quarter of 2023, the insurance group of Sovcombank earned a regular profit of 650 million rubles. The financial result of Sovcombank Leasing for 4 months in 2023 amounted to 652 million rubles.