22.10.2013

Bank Saint Petersburg announces 9M 2013 results under the Russian accounting standards (RAS)

Bank Saint Petersburg summarized its performance for 9M 2013 under RAS.

Financial highlights for 9M 2013 under RAS:

  • Net Income increased 3 times compared with 9M 2012 and amounted to RUB 2.6 bn;
  • Loan portfolio increased during 9M 2013 by 15% to RUB 272.1 bn, retail loan portfolio increased by 48.7% to RUB 39.8 bn;
  • Retail customer deposits during the first 9M 2013 increased by 17.6% to RUB 113.0 bn;
  • As at October 1, 2013, capital adequacy ratio (N1) amounted to 12.2%.

Bank Saint Petersburg is ranked 14th in terms of assets and 16th in terms of retail deposits among the Russian banks (Interfax ranking). Today the Bank provides services to more than 1.3 mln individuals and 42 thousand corporates. As at October 1, 2013, the number of cards issued by the Bank is 782 thousand; the Bank’s card network comprised of 579 ATMs. At present Internet-Bank is actively used by 231 thousand clients.

Among the most significant events of 3Q 2013 were the ordinary shares issue, as a result of which the Bank’s capital increased by RUB 3 bn, and the placement of 3-year RUB 5 bn domestic bonds.

In October 2013 Fitch Ratings has assigned Bank Saint Petersburg long-term issuer default rating of 'BB-' with a stable outlook, Moody's Investors Service has affirmed the Bank's Ba3 long-term foreign-currency deposit rating with a negative outlook.

Net Interest Income for 9M 2013 amounted to RUB 9.5 bn (+11.2% compared with 9M 2012). Net Fee and Commission Income for 9M 2013 increased by 5.0% compared with 9M 2012 and amounted to RUB 1.7 bn. Net Trading Income for 9M 2013 amounted to RUB 1.3 bn (RUB 2.8 bn for 9M 2012). Profit before Tax for 9M 2013 amounted to RUB 3.5 bn. Net Income increased 3 times compared with 9M 2012 and amounted to RUB 2.6 bn.

Bank’s assets amounted to RUB 406.1 bn as at October 1, 2013 (+15.7% compared with January 1, 2013; +8.5% compared with July 1, 2013).

Liabilities. As at October 1, 2013, customer deposits totalled RUB 276.7 bn (+13.6% compared with January 1, 2013; +4.1% compared with July 1, 2013). The corporate customer deposits amounted to RUB 163.7 bn (+10.9% compared with January 1, 2013; +5.9% compared with July 1, 2013). Retail customer deposits amounted to RUB 113.0 bn (+17.6% compared with January 1, 2013; +1.6% compared with July 1, 2013).

As at October 1, 2013, Bank’s total capital calculated under the CBR regulations amounted to RUB 46.3 bn (+9.0% compared with January 1, 2013; +5.2% compared with July 1, 2013). The growth is mainly attributed to the ordinary shares issue inclusion in the Bank’s capital in the amount of RUB 3 bn. As a result, the capital adequacy ratio (N1) as at October 1, 2013 amounted to 12.2% provided the required regulatory minimum is 10%.

Loan portfolio reached RUB 272.1 bn (+15% compared with January 1, 2013; +5.9% compared with July 1, 2013).

Corporate loan portfolio amounted to RUB 232.3 bn (+10.6% compared with January 1, 2013; +5.1% compared with July 1, 2013).

Retail loan portfolio amounted to RUB 39.8 bn (+48.7% compared with January 1, 2013; +11.1% compared with July 1, 2013).

As at October 1, 2013, provisions amounted to RUB 25.3 bn. Provisions-to-loans ratio amounted to 9.3%. As at October 1, 2013, the share of the overdue loans amounted to 3.4%; the level of coverage of the overdue loans by provisions amounted to 273%.

9M 2013 RAS Financial Statements are available on the Bank’s website:
https://www.bspb.ru/en/investors/financial-statements/RAS/.

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