21.07.2011

Bank Saint Petersburg announces 1H 2011 results under the Russian accounting standards (RAS)

Bank Saint Petersburg summarized its performance for 1H 2011 under RAS.

Financial highlights for 1H 2011 under RAS:

  • Net Income for 1H 2011 increased 12.6 times compared with 1H 2010 result and amounted to RUB 3.3 billion;
  • During 1H 2011 the Bank’s loan portfolio increased by 7.8% to RUB 212.4 billion;
  • In 1H 2011, the Bank released provisions in the amount of RUB 127.9 million (in 1H 2010 provision charge amounted to RUB 4.5 billion).

Bank Saint Petersburg was ranked 15th in terms of retail deposits and 16th in terms of assets among the Russian banks (Interfax ranking) as at April 1, 2011. As at July 1, 2011, the number of cards issued by the Bank is 700 thousand; the Bank’s card network comprised of 473 ATMs. Today, the Bank provides services to more than 1 million individuals and 35 thousand corporates. At present Internet-Bank is actively used by 100 thousand clients.

Net Interest Income for 1H 2011 amounted to RUB 6.4 billion (+ 5.7% compared with 1H 2010). Net Fee and Commission Income for 1H 2011 increased by 20.9% compared with 1H 2010 and amounted to RUB 918.0 million. Profit before Tax for 1H 2011 amounted to RUB 5.0 billion (+ 350% compared to 1H 2010). Net Income for 1H 2011 amounted to RUB 3.3 billion (increased 12.6 times compared with 1H 2010); the increase resulted mainly from decrease in provisioning.

Bank’s assets increased to RUB 291.1 billion, by 7.2% compared with January 1, 2011.

Liabilities. As at July 1, 2011 customer accounts amounted to RUB 225.8 billion (+ 4.3% compared with January 1, 2011; +22.5% compared with July 1, 2010). The corporate customer accounts amounted to RUB 152.4 billion (+4.9% compared with January 1, 2011; +27.2% compared with July 1, 2010). Retail customer accounts amounted to RUB 73.5 billion (+3.0% compared with January 1, 2011; +13.8% compared with July 1, 2010).

As at July 1, 2011, Bank’s total capital calculated under the CBR regulations amounted to RUB 35.4 billion (+4.9% compared with January 1, 2011). As a result the capital adequacy as at July 1, 2011 amounted to 12.1% provided the required regulatory minimum is 10%.

Loan portfolio. The loan portfolio grew by 7.8% to RUB 212.4 billion. Corporate loan portfolio grew by 8.7% to RUB 194.4 billion. Retail loan portfolio decreased by 0.9% to RUB 18.0 billion. Provisions amounted to RUB 18.9 billion (-2.0% compared with January 1, 2011; -5.9% compared with April 1, 2011). Provisions to loans ratio amounted to 8.87%. In 1H 2011, the Bank released provisions in the amount of RUB 127.9 million (in 1H 2010 provision charge amounted to RUB 4.5 billion). As at July 1, 2011, the share of the overdue loans amounted to 3.76%; the level of coverage of the overdue loans by provisions amounted to 236%.

1H 2011 RAS Financial Statements are available on the Bank’s website.