URSA Bank’s deposits increase 2.5 billion RUR
The net assets of URSA Bank reached 155.3 billion RUR in the first half of 2009. The bank’s own funds were estimated at 24.1 billion RUR, with the capital adequacy reaching 17.3%. This figure is actually 1.7 times greater than the limits set by the Central Bank of Russia’s requirements.
URSA Bank’s lending portfolio amounted to 114.6 billion RUR on July 1, 2009. The structure of the portfolio is well-balanced, as the volumes of loans to private customers and to business customers come to 54.3 billion RUR and 60.3 billion RUR, respectively.
According to the data provided by the bank, the volume of customer investment had reached 61.1 billion RUR by July 1, 2009, including 39.3 billion RUR worth of private individuals’ deposits. All in all, the private individuals deposit volume has increased by 2.5 billion RUR since the beginning of the year, which actually means private customers trust the bank.
‘In the first six months of the year, URSA Bank both paid off all of its debts to international financial organizations ahead of deadlines and retired ?277.4m and $36.1m worth of its own Eurobonds, also in advance. This means that we are doing great in terms of liquidity and are still quite investment-reliable,’ the bank’s press officer reports.
The bank’s balance sheet profit came to 32.4 million RUR in the first half of 2009. The figures resulted from adding 4.6 billion RUR to reserves meant for making up for the lending portfolio depreciation. As of July 1, 2009, the bank’s bad debt reserves compensated for all the possible toxic asset-related loss by 163%.
‘Our shrinking lending portfolio, a stricter approach to its reserves, and excess liquidity all show that URSA Bank has one top priority at this economically uncertain moment, and that is to preserve our own funds. We are coping effectively with this challenge, so our financial results look good and our capital adequacy figures are nice. This means we can afford not to launch additional share issues even if our bad debt comes to more than one-fifth of our lending portfolio,’ says URSA Bank’s Deputy General Director Vladislav Khokhlov.
URSA Bank’s lending portfolio amounted to 114.6 billion RUR on July 1, 2009. The structure of the portfolio is well-balanced, as the volumes of loans to private customers and to business customers come to 54.3 billion RUR and 60.3 billion RUR, respectively.
According to the data provided by the bank, the volume of customer investment had reached 61.1 billion RUR by July 1, 2009, including 39.3 billion RUR worth of private individuals’ deposits. All in all, the private individuals deposit volume has increased by 2.5 billion RUR since the beginning of the year, which actually means private customers trust the bank.
‘In the first six months of the year, URSA Bank both paid off all of its debts to international financial organizations ahead of deadlines and retired ?277.4m and $36.1m worth of its own Eurobonds, also in advance. This means that we are doing great in terms of liquidity and are still quite investment-reliable,’ the bank’s press officer reports.
The bank’s balance sheet profit came to 32.4 million RUR in the first half of 2009. The figures resulted from adding 4.6 billion RUR to reserves meant for making up for the lending portfolio depreciation. As of July 1, 2009, the bank’s bad debt reserves compensated for all the possible toxic asset-related loss by 163%.
‘Our shrinking lending portfolio, a stricter approach to its reserves, and excess liquidity all show that URSA Bank has one top priority at this economically uncertain moment, and that is to preserve our own funds. We are coping effectively with this challenge, so our financial results look good and our capital adequacy figures are nice. This means we can afford not to launch additional share issues even if our bad debt comes to more than one-fifth of our lending portfolio,’ says URSA Bank’s Deputy General Director Vladislav Khokhlov.
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