MOSCOW, September 16 (RIA Novosti) - Gazprombank Group, one of Russia's top five banks, made a first half net profit of over $1 billion to IFRS, Deputy Chairman Alexander Sobol said on Thursday.
"Net profit to IFRS is just over $1 billion, and the bank's share is about half of that. The fact is that other assets of the group also worked well, and the main profit came in from the bank and from Sibur," Sobol said.
The bank's profits mainly came from credit operations and securities transactions, with its portfolio growing by 15 percent in January-June.
The group expects its corporate loan portfolio to expand by 6-7 percent this year, Sobol said.
"We're not expecting a large increase. The corporate portfolio increase will be 6-7 percent. As far as retail is concerned, in the first six months the portfolio declined, while now we are seeing an increase, and overall, the year-end figure will be similar to what we had in the beginning of the year," Sobol said.
In 2011, the group expects its loan portfolio to grow by 10-12 percent.
"We don't expect a portfolio deterioration, the growth will be moderate, at 10-12 percent. There is no one to give money to, the biggest problem we have are high-quality borrowers. People are repaying their loans ahead of schedule, as quickly as we are giving out new loans," Sobol said.
