LOCKO-Bank announced preliminary results for the year 2016 in accordance with Russian Accounting Standards (RAS).
According to the preliminary balance sheet LOCKO-Bank’s net profit for 2016 amounted to RUB 1.8 bn.
LOCKO-Bank entered the TOP-100 rating of the most efficient banks on 01.10.2016, compiled by the National Banking Journal (NJB), taking the 66-th place. LOCKO-Bank has been holding leading positions in the ratings of the effectiveness and reliability composed by NJB for more than five years.
Total assets as of January 1, 2017 amounted to RUB 84.5 bn.
Shareholders' equity amounted to RUB 12.3 bn on January 1, 2017.
Return on equity (ROE) for the reporting period amounted to 14.6% in annual terms.
International rating agency Fitch Ratings has affirmed the Foreign and Local Currency IDRs of LOCKO-Bank at 'B+', the Outlook has been revised to Stable.
During 2016 LOCKO-Bank twice was a winner of the Deposit Insurance Agency’s contest for the payment of compensation to depositors of troubled banks, which confirms the high degree of reliability and financial stability of the LOCKO-Bank.
As of January 1, 2017 mandatory ratios were as follows:
The mentioned figures can be adjusted after taking into account the events after the balance sheet date and the annual audit for 2016 year. Data for January 1, 2016 take into account the events after the balance sheet date; data as at 1 January 2017 – does not take into account.
Victor Davydik, Acting Chairman of the Executive Board:
«2016 year demonstrates continuing stagnation and a slight decrease in consumption. Nevertheless, we see a stabilization of energy markets in recent months, which gives reason to estimate the chances of a possible beginning of economic growth in 2017 as an above-average. LOCKO-Bank is an active participant of the economic system, demonstrates continuing financial effectiveness, improves its business processes and develops innovative approaches in customer service. In 2016 Bank again became an active participant of the secured consumer lending market, that is characterized by a substantial increase in the retail loan portfolio while reducing the overall level of NPL, which is the result of effective business management. In 2016 LOCKO-Bank also offered innovative services for legal entities – instant remote opening of current accounts, accelerated issuance of bank guarantees on the entire territory of the Russian Federation. All this provided high profitability of the Bank's activities.
In 2017 LOCKO-Bank will continue an active development of the key business segments offering new services and products to customers, while maintaining a sufficient level of all major ratios and positive financial result».