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12.07.2019

Center-invest Bank is Among the Most Profitable and Efficient Banks

Center-invest Bank is one of the top ten most profitable and efficient banks in Russia based on Q1 2019 results. According to a rating published by Interfax-TsEA and Kommersant, Center-invest Bank ranks 5th among Russian banks for return on equity and 7th for efficiency (return on assets)*.

The rating is based on returns in the first quarter of this year on average assets and average equity in 2019. For Center-invest Bank, the return on equity is 17.9% and the return on assets is 1.92%.

In the first quarter of this year, the transition in financial reporting to IFRS-9 was a significant event in the banking sector. IFRS-9 significantly changes the approach to establishing provisions for credit losses and introduces more stringent requirements for the reporting of overdue debt in balance sheets.

Center-invest Bank implements an ESG-banking business model (environmental, social and governance). The bank has provided audited financial statements in accordance with RAS and IFRS for over twenty years.

In addition to having a Moody’s Ba3 rating and an ACRA А(RU) rating, outlook stable, Center-invest Bank was the first Russian bank to receive an ESG rating from Vigeo Eiris. The agency ranks us 17th out of 76 European banks.

By digitalising business processes, Center-invest Bank is expanding the availability of banking services and replicating ESG banking in the six regions in which it operates.

*The full rating is available at: https://www.kommersant.ru/doc/4026255.