Thursday, 26 April 2018

RENAISSANCE CAPITAL REPORTS STRONG FY 2017 RESULTS

rencap
Renaissance Capital yesterday announced its International Financial Reporting Standards (IFRS) financial results for the full year ending 31 December 2017. During the period, net profit from the core business increased by 43 per cent year-on-year (YoY) to $15.6million. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html

In 2017, the Firm grew operating income by eight per cent YoY to $145 million, with Renaissance Capital benefiting from and helping to drive increased capital markets activity in its core geographies. The increased operating income was mainly led by the impressive performance of the Firm’s derivatives business, the revenue of which more than doubled in the reporting period.

General Director at ONEXIM Group, Dmitry Razumov, said: “It’s been ten years since ONEXIM entered into a strategic partnership and invested in Renaissance Capital. During this period we have witnessed a series of important milestones for the Firm including successfully surviving the global financial crisis, fully turning around its operations and returning to profitability, all while fighting off a range of market disruptions and sector challenges.

“Today, we see a much stronger Firm, an independent, renewed, robust, agile investment bank, truly pioneering in the frontier markets space and providing a unique offering to its global investor client base. ONEXIM Group remains fully committed to further supporting Renaissance Capital and is excited to witness the Firm’s future growth.”

Chairman at Renaissance Capital, Christophe Charlier, commented: “Since my appointment as Chairman of the Board of Directors last year, I have been privileged to have had the opportunity to meet and work with Renaissance Capital’s team and clients across its core regions. This has granted me an overview of the truly outstanding and varied work carried out by our diverse employees across our offices. At Renaissance Capital, we see a range of excellent opportunities across emerging and frontier markets. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html

“Despite recent market volatility and geopolitical issues, we still truly believe in the underlying value of the Russian market and are confident in its resilience, while we are also excited by Egypt as a truly fascinating growth story set to take off in the years to come. In sub-Saharan Africa, Nigeria and Ghana are expected to be among the strongest performers and Renaissance Capital’s teams on the ground are well-positioned to service our clients in these regions.”

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http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html