22.10.2012

Bank Saint Petersburg announces 9M 2012 results under the Russian accounting standards (RAS)

Bank Saint Petersburg summarized its performance for 9M 2012 under RAS.

Financial highlights for 9M 2012 under RAS:

  • Net Income for 9M 2012 amounted to RUB 886 million;
  • Loan portfolio reached RUB 240 billion as at October 1, 2012 (+7.4% compared with January 1, 2012);
  • Retail loan portfolio during the first 9M 2012 increased by 16% to RUB 23.4 billion;
  • Retail customer accounts during the first 9M 2012 increased by 7.3% to RUB 91.1 billion;
  • As at October 1, 2012, capital adequacy ratio (N1) amounted to 11.3%.

Bank Saint Petersburg is ranked 15th in terms of assets and 17th in terms of retail deposits among the Russian banks (Interfax ranking). As at October 1, 2012, the number of cards issued by the Bank is 753 thousand; the Bank’s card network comprised of 540 ATMs. Today, the Bank provides services to more than 1.2 million individuals and 37 thousand corporates. At present Internet-Bank is actively used by 153 thousand clients.

In October 2012 the Bank placed 3-year RUB 5 billion domestic bonds with 1-year put option and the coupon rate of 9.5%.

Net Interest Income for 9M 2012 amounted to RUB 8.6 billion (-10.9% compared with 9M 2011). Net Fee and Commission Income for 9M 2012 increased by 4.7% compared with 9M 2011 and amounted to RUB 1.7 billion. Net Trading Income for 9M 2012 amounted to RUB 2.8 billion (RUB 137 million for 9M 2011). Profit before Tax for 9M 2012 amounted to RUB 1.8 billion. Net Income for 9M 2012 amounted to RUB 886 million. Net income for 3Q 2012 (RUB 733 million) was positively affected by reduction of provision charge during the quarter and for the reason that a part of excessive income tax advance payments were returned in 3Q 2012.

Bank’s assets amounted to RUB 312 billion as at October 1, 2012 (-3.8% compared with January 1, 2012).

Liabilities. As at October 1, 2012, customer accounts totalled RUB 236.6 billion (-4.2% compared with January 1, 2012). The corporate customer accounts amounted to RUB 145.5 billion (-10.2% compared with January 1, 2012). Retail customer accounts amounted to RUB 91.1 billion (+7.3% compared with January 1, 2012).

As at October 1, 2012, Bank’s total capital calculated under the CBR regulations amounted to RUB 39.7 billion (-0.4% compared with July 1, 2012). As a result, the capital adequacy ratio (N1) as at October 1, 2012 amounted to 11.3% provided the required regulatory minimum is 10%.

Loan portfolio. Compared with January 1, 2012, the loan portfolio grew by 7.4% to RUB 240 billion. The corporate loan portfolio grew by 6.5% and came to RUB 216.2 billion. Retail loan portfolio increased by 16% and came to RUB 23.4 billion.
As at October 1, 2012, provisions amounted to RUB 25.4 billion. Provisions to loans ratio amounted to 10.6%.
As at October 1, 2012, the share of the overdue loans amounted to 3.99%; the level of coverage of the overdue loans by provisions amounted to 266%.

9M 2012 RAS Financial Statements are available on the Bank’s website: http://www.bspb.ru/