Despite an unpredictable and pessimistic economic and business environment in 2020, ProCommerce Bank successfully managed to produce positive financial results and continued to grow its business.

Bank’s asset size increased by 29% and reached RUB 824 million, thanks to the increase in customer balances and deposits as well as external interbank funding. Total loans increased by 32% and stood at RUB 573 million, of which loans to small businesses (SME) increased by 40% and made up of 96% of all loans.

Customer balances on average increased by 31% and stood at RUB 351 million, further assisting bank’s short term funding base.

Net Operating Income for the year increased by 28% and reached RUB 21.7 million, while Net Income after taxes and provisions was RUB 14.1 million.  

Net commission income was RUB 49.8 million and net forex result almost doubled exceeding RUB 13.2 million for the whole year.

Bank’s equity increased by 4.3% and exceeded RUB 360 million as of the end of 2020.

Outstanding off-balance commitments in the form of letters of credit and guarantees reached RUB 149 million.