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16:22 EDB extends a RUB 1.27 billion loan facility for RG Brands Kazakhstan
15:52 EDB offers bonds underwritten by Kazkommerts Securities at KASE
19:36 EDB and the Global Infrastructure Hub sign a memorandum of understanding in Singapore
16:29 Dmitry Pankin: IFIs are important players in PPP syndicates
12:38 Trade between the EDB countries recovers in Q1 2017 (quarterly macro review)
20:44 Dmitry Pankin: Regional integration neutralises negative economic effects for landlocked countries
14:14 EDB acquires share in ASK, a concession company building Central Ring Road 3
13:59 EDB: Eurasian economic integration has gained practical content but may encounter stumbling blocks in the future (the report “Eurasian Economic Integration 2017”)
19:02 EDB provides a US $10 million loan facility to Belinvestbank for trade finance
13:50 Eurasian Development Bank accounts for the largest portion of investment finance approved by MDBs for the CIS countries in Q1 2017 (review)
14:00 Macroeconomic Review: Improvements in the global economy may accelerate growth in the EDB countries
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Press Releases

EDB: IFRS financial statements for 2016 show a significant increase in net income

Almaty, 16 February 2016. Eurasian Development Bank (EDB) published its financial statements for 2016 prepared in accordance with the International Financial Reporting Standards (IFRS). In 2016, the Bank's net income totalled US $163.5 million, compared to a net loss of US $143.6 in 2015.

The net interest income before provisions for impairment losses on interest bearing assets amounted to US $109.2 million, a US $16.3 million (17.6%) increase year-on-year. This was achieved, in the first place, due to:

    a significant decrease in interest expenses, from US $133.1 million to US $84.3 million (36.7%), as a result of the repurchase of the Bank's securities in the end of 2015 and during 2016; and
    an increase in interest income on financial assets available for sale from US $4.9 million in 2015 to US $18.5 million in 2016.

In 2016, EDB worked to improve the reliability of its loan portfolio and, as a result, recovered the previously created provisions for impairment losses in the amount of US $54.5 million.

The net non-interest income in 2016 reached US $30.2 million due to the increased return on transactions with the Bank's treasury portfolio. In 2015, this figure was negative because a US $64.3 million provision for impairment losses on equity instruments and other assets was created.

Optimised operating expenses and a stricter budget discipline have helped to reduce these expenses by US $4.2 million, or 12.3%, year-on-year, to US $30 million.

As at 31 December 2016, EDB's assets grew by US $374.4 million (13.0%) to US $3.26 billion. Loans to customers totalled US $1.48 billion, down US $17.2 million or 1.1% over the period. Issued debt securities stood at US $1.16 billion at the end of the period, which is 3.4% less compared to the end of 2015 due to the repurchase of the Bank's debt securities issued earlier. The Bank's equity increased by US $167.8 million (11.2%) to US $1.67 billion.

EDB's annual financial statements as at 30 December 2016 were audited by Deloitte.

The full text of the document is available online.


Additional Information:

Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.

EDB Media Centre:

+7 (727) 244 05 45 ext. 6147 (Almaty)

+7 (495) 645 04 45 ext. 2724 (Moscow)

pressa@eabr.org


16 February, 2017

EDB Member States

  • Russian Federation

    Russian
    Federation

  • Republic of Kazakhstan

    Republic
    of Kazakhstan

  • Republic of Armenia

    Republic
    of Armenia

  • Republic of Tajikistan

    Republic
    of Tajikistan

  • Republic of Belarus

    Republic
    of Belarus

  • Kyrgyz Republic

    Kyrgyz
    Republic