OREANDA-NEWS. CREDIT BANK OF MOSCOW's half year 2013 IFRS net income grew 77.7% compared to the same period of 2012 and amounted to RUB 3.8 bln (\\\$117.0 mln).

The Bank's high operational efficiency is evident in the return on equity (18.6%) and return on assets (2.3%).

The Bank's assets grew by 16.5% ytd reaching RUB 359.7 bln (USD 10,997.7 mln).

Gross loan portfolio expanded by 27.6% ytd to RUB 262.7 bln (USD  8,031mln).

The NPL ratio (90+ days) remains healthy at 1.1%.

The cost-to-income ratio decreased in the reporting period from 40.5% to 32.8%.

The Bank's equity grew by 9.5% ytd up to RUB 43.0 bln (USD  1,315.7 mln).

The capital calculated under the Basel Accord increased 42.3% in 1H 2013 reaching RUB 64.0 bln (USD  1,957.5 mln), the capital adequacy ratio being 19.1%.

“In the first half 2013, the Bank demonstrated very good results. Combined with our successful transactions on debt capital markets, in 1H 2013, and the shareholders' decision on the additional issue of ordinary shares, this is a strong basis for future sustainable growth of the Bank”, - said Eric de Beauchamp, Chief Financial Officer.