31.01.2014

Bank Saint Petersburg announces preliminary FY 2013 results under the Russian accounting standards (RAS)

Bank Saint Petersburg assessed its performance for FY 2013 under RAS*.

* These results may be subject to change following the subsequent events and the annual audit for FY 2013. The numbers as at January 1, 2013 include the effect of the subsequent events; the numbers as at January 1, 2014 do not include the effect of the subsequent events.

Financial highlights for FY 2013 under RAS:

  • Net Income increased 4 times compared with FY 2012 and amounted to RUB 3.4 bn;
  • Net Interest Income increased by 19% compared with FY 2012 and amounted to RUB 13.4 billion;
  • Loan portfolio increased during FY 2013 by 13% to RUB 266.7 bn, retail loan portfolio increased by 60% to RUB 42.7 bn;
  • Retail customer deposits during FY 2013 increased by 22% to RUB 117.1 bn;         
  • As at January 1, 2014, capital adequacy ratio (N1) amounted to 13.9%.

Bank Saint Petersburg is ranked 14th in terms of assets and 15th in terms of retail deposits among the Russian banks (Interfax ranking). Today the Bank provides services to about 1.4 mln individuals and 43 thousand corporates. As at January 1, 2014, the number of cards issued by the Bank is 793 thousand; the Bank’s card network comprised of 599 ATMs. At present Internet-Bank is actively used by 263 thousand clients.

Among the most significant events of FY 2013 were the ordinary shares issue, as a result of which the Bank’s Tier 1 capital increased by RUB 3 billion, and the placement of 3-year RUB 5 billion domestic bonds. In October the Bank also placed 5.5-year USD 100 million subordinated Eurobonds.

Net Interest Income for FY 2013 amounted to RUB 13.4 bn (+18.6% compared with FY 2012). Net Fee and Commission Income for FY 2013 increased by 3.2% compared with FY 2012 and amounted to RUB 2.5 bn. Net Trading Income for FY 2013 amounted to RUB 1.7 bn (RUB 3.0 bn for FY 2012). Profit before Tax for FY 2013 amounted to RUB 5.2 bn. Net Income increased 4 times compared with FY 2012 and amounted to RUB 3.4 bn.

Bank’s assets amounted to RUB 415.3 bn as at January 1, 2014 (+18.3% compared with January 1, 2013).

Liabilities. As at January 1, 2014, customer deposits totalled RUB 280.8 bn (+15.2% compared with January 1, 2013). The corporate customer deposits amounted to RUB 163.7 bn (+11.0% compared with January 1, 2013). Retail customer deposits amounted to RUB 117.1 bn (+21.8% compared with January 1, 2013).

As at January 1, 2014, the Bank’s total capital calculated under the CBR regulations amounted to RUB 49.9 bn (+17.4% compared with January 1, 2013). The growth is mainly attributed to the ordinary shares issue and subordinated Eurobonds placement. As a result, the capital adequacy ratio (N1) as at January 1, 2014 amounted to 13.9% provided the required regulatory minimum is 10%.

Loan portfolio reached RUB 266.7 bn (+12.6% compared with January 1, 2013).

Corporate loan portfolio amounted to RUB 224.0 bn (+6.6% compared with January 1, 2013).

Retail loan portfolio amounted to RUB 42.7 bn (+59.6% compared with January 1, 2013).

As at January 1, 2014, provisions amounted to RUB 26.5 bn. Provisions-to-loans ratio amounted to 9.9%. As at January 1, 2014, the share of the overdue loans amounted to 3.8%; the level of coverage of the overdue loans by provisions amounted to 260%.

FY 2013 RAS Financial Statements are available on the Bank’s website:

https://www.bspb.ru/en/investors/financial-statements/RAS/

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