Sukombank in the 1st quarter of 2025 earned 13 billion net profit in IFRS

PJSC “SOCCOMBANK” announced financial results on international financial reporting standards (IFRS) for 1 quarter of 2025.

The Sovcombank showed a balanced result in a high level of interest rates and a slowdown in the economy. Despite the difficult period for the banking sector, regular profits remained at the level of last year, 13 billion rubles, and share capital increased by 23 billion rubles. The net profit of the Sovcombank for the 1st quarter of 2025 amounted to 13 billion rubles.

Key indicators:

• Profit increased by 5% compared to last year thanks to commission and insurance income.
• Capital grew due to profit and other factors, such as one -time income.
• The revenue amounted to 228 billion rubles (+57%), thanks to the growth of commissions, insurance and non -bank services.
• The retail business grew to 116 billion rubles, a loan portfolio – to 1.3 trillion rubles (+23%), active users – 6.1 million.
• The corporate business brought 87 billion rubles (+65%), the portfolio – 1.3 trillion rubles (+12%).
• The securities portfolio – 571 billion rubles with a profitability of about 20%, duracy – 1 year.
• The non -bank business has grown: insurance premiums – 17 billion (+27%), leasing – 81 billion (+19%), factoring -+39%.

Difficulties:

• The growth of expired loans due to a high rate and reduction of customer solvency.
• Expenses increased by 44% due to scale, investment in technology and integration of new businesses.

Strategic achievements:

• The integration of the Home Bank for record terms has been completed.
• Securitization of 10 billion rubles was carried out.
• For the first time they took first place according to customer reviews.

“We are satisfied with the results of the quarter. Given the traditionally low season in the 1st quarter, such a start of the year confirms our forecast to increase net profit in 2025. The gradual decrease in bets will contribute to both the growth of profit and assets with the restoration of demand among borrowers. The most important challenge for us is to preserve the high quality of the loan portfolio during this period. We are pleased to see the outstanding growth of such segments important for us as settlement, commission and insurance income, ”said Dmitry Gusev, chairman of the board of the Sovcombank.

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