14.02.2012

Bank Saint Petersburg announces preliminary FY 2011 results

Bank Saint Petersburg summarized its performance for FY 2011 under RAS*.

* These results may be subject to change following the subsequent events and the annual audit for FY 2011. The numbers as at January 1, 2011 include the effect of the subsequent events; the numbers as at January 1, 2012 do not include the effect of the subsequent events.

Financial highlights for FY 2011 under RAS

- Net Income for FY 2011 increased by 177.3% to RUB 4.2 billion;

- Net Interest Income for FY 2011 increased by 5.7% compared with FY 2010 and amounted to RUB 12.8 billion;

- Loan portfolio for FY 2011 increased by 13.3% to RUB 223.2 billion;

- Overdue loans decreased to 3.41% of the loan portfolio compared to 4.12% as at January 1, 2011;

- Customer accounts for FY 2011 increased by 14% compared with FY 2010 and amounted to RUB 246.9 billion.


As at January 1, 2012, Bank Saint Petersburg was ranked 16th in terms of retail deposits and 16th in terms of assets among the Russian banks (Interfax ranking). As at January 1, 2012, the number of cards issued by the Bank exceeded 720 thousand; the Bank’s card network comprised of 504 ATMs. Today, the Bank provides services to more than 1.1 million individuals and 36 thousand corporates. As at January 1, 2012, Internet-Bank was actively used by 145 thousand clients.

Among the most significant events of the previous year was the 14th additional ordinary share issue made by the Bank. 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 6.2% of the voting shares. Total proceeds from the offering amount to RUB 2.7 billion.

Net Interest Income for FY 2011 improved by 5.7% compared with the FY 2010 result to RUB 12.8 billion. Net Fee and Commission Income for FY 2011 increased by 18.9% compared with FY 2010 and amounted to RUB 2.0 billion. Profit before Tax for FY 2011 amounted to RUB 7.0 million (+131.2% compared to FY 2010). Net Income for FY 2011 amounted to RUB 4.2 billion (+177.3% compared with FY 2010).

During FY 2011 Bank’s assets increased by 18.8% to RUB 322.6 billion compared with RUB 271.6 billion as at January 1, 2011.

Liabilities. As at January 1, 2012 customer accounts amounted to RUB 246.9 billion (+14.0% compared with January 1, 2011; +4.8% compared with October 1, 2011). As at January 1, 2012, the corporate customer accounts amounted to RUB 162.0 billion (+11.5% compared with January 1, 2011; +3.7% compared with October 1, 2011). Retail customer accounts amounted to RUB 84.9 billion (+19.1% compared to January 1, 2011; +6.8% compared with October 1, 2011).

As at January 1, 2012, Bank’s total capital calculated under the CBR regulations amounted to RUB 40.0 billion (+18.4% compared with January 1, 2011). As a result the capital adequacy as at January 1, 2012 amounted to 12.0% provided the required regulatory minimum is 10%.

Loan portfolio. The loan portfolio grew by 13.3% to RUB 223.2 billion from RUB 197.1 billion as at January 1, 2011. Corporate loan portfolio grew by 13.5% to RUB 203.0 billion; retail loan portfolio grew by 10.5% to RUB 20.2 billion.
Provisions amounted to RUB 20.9 billion (+8.5% compared with January 1, 2011). Provisions to loans ratio decreased to 9.3%; at the same time the level of the overdue loans decreased: as at January 1, 2012, the share of the overdue loans amounted to 3.41% (4.12% as at January 1, 2011). As a result the level of coverage of the overdue loans by provisions increased to 273.9%.