27.10.2011

Bank Saint Petersburg announces 9M 2011 results

Bank Saint Petersburg summarized its performance for 9M 2011 under RAS.

Financial highlights for 9M 2011 under RAS:

  • Net Income for 9M 2011 increased 18.6 times compared with 9M 2010 result and amounted to RUB 3.4 billion;
  • Net Interest Income for 9M 2011 increased to RUB 9.6 billion (+7.7% compared with 9M 2010).
  • During 9M 2011 the Bank’s loan portfolio increased by 9.9% to RUB 216.7 billion (+2.0% for 3Q 2011).

Bank Saint Petersburg was ranked 14th in terms of retail deposits and 16th in terms of assets among the Russian banks (Interfax ranking) as at October 1, 2011. As at October 1, 2011, the number of cards issued by the Bank exceeded 700 thousand; the Bank’s card network comprised of 493 ATMs. Today, the Bank provides services to more than 1.1 million individuals and 35.6 thousand corporates. At present Internet-Bank is actively used by 121 thousand clients.

On October 26, 2011, the St. Petersburg branch of the Central Bank of Russia officially registered the Report on results of the 14th additional ordinary share issue made by the Bank. Total proceeds from the offering amount to RUB 2.7 billion. The major part of the issue was acquired by the Bank’s new shareholder, the European Bank for Reconstruction and Development (EBRD). Its share following the placement amounts to 6.17% of the voting shares.

Net Interest Income for 9M 2011 amounted to RUB 9.6 billion (+7.7% compared with 9M 2010). Net Fee and Commission Income for 9M 2011 increased by 46.5% compared with 9M 2010 and amounted to RUB 1.6 billion. Profit before Tax for 9M 2011 amounted to RUB 6.5 billion (+340.2% compared with 9M 2010). Net Income for 9M 2011 amounted to RUB 3.4 billion (increased 18.6 times compared with 9M 2010); the main driver behind the growth is decrease in provisioning.

Bank’s assets increased to RUB 302.3 billion (+11.3% compared with January 1, 2011).

Liabilities. As at October 1, 2011 customer accounts reached RUB 235.7 billion (+8.8% compared with January 1, 2011). The corporate customer accounts amounted to RUB 156.2 billion (+7.5% compared with January 1, 2011). Retail customer accounts amounted to RUB 79.5 billion (+11.5% compared with January 1, 2011).

As at October 1, 2011, Bank’s total capital calculated under the CBR regulations amounted to RUB 36.8 billion (+8.8% compared with January 1, 2011). As a result the capital adequacy as at October 1, 2011 amounted to 11.6% provided the required regulatory minimum is 10%. RUB 2.7 billion raised as a result of the new share issue is not reflected in the capital ratio calculation.

Loan portfolio. The loan portfolio grew by 9.9% to RUB 216.7 billion. Corporate loan portfolio grew by 9.7% to RUB 196.2 billion. Retail loan portfolio increased by 12.5% to RUB 20.5 billion. Provisions for loan impairment amounted to RUB 19.9 billion (+3.7% compared with January 1, 2011). Provisions to loans ratio amounted to 9.2%. As at October 1, 2011, the share of the overdue loans amounted to 3.9%; the level of coverage of the overdue loans by provisions amounted to 238.7%.

9M 2011 RAS Financial Statements are available on the Bank’s /2094/.