30.10.2014

Bank Saint Petersburg announces 9M 2014 results under the Russian accounting standards (RAS)

Bank Saint Petersburg summarized its performance for 9M 2014 under RAS.

Financial highlights for 9M 2014 under RAS:

  • 9M 2014 Net Income increased by 83.6% compared with 9M 2013 and amounted to RUB 4.7 bn;
  • Net Interest Income for 9M 2014 increased by 35.9% compared with 9M 2013 to RUB 13.0 bn;
  • Net Fee and Commission Income for 9M 2014 increased by 26.9% compared with 9M 2013 and amounted to RUB 2.2 bn;
  • Retail customer deposits during 9M 2014 increased by 9.3% to RUB 128.0 bn;
  • Total capital as at October 1, 2014, amounted to RUB 50.8 bn.

Bank Saint Petersburg is ranked 16th in terms of assets and 17th in terms of retail deposits among the Russian banks (Interfax ranking). Today the Bank provides services to 1 400 000 individuals and over 54 000 corporates. As at October 1, 2014, the number of cards issued by the Bank exceeded 885 000; the Bank’s ATM network comprised of 648 ATMs. At present Internet-Bank is actively used by 362 000 clients.

Net Interest Income for 9M 2014 increased by 35.9% compared with 9M 2013 and amounted to RUB 13.0 bn. Interest expenses are net of RUB 2.8 bn loss from fully impaired loans disposal. Net Fee and Commission Income for 9M 2014 increased by 26.9% compared with 9M 2013 and amounted to RUB 2.2 bn. Net Trading Loss for 9M 2014 amounted to RUB 447 mln. Profit before Tax for 9M 2014 amounted to RUB 5.1 bn. 9M 2014 Net Income increased by 83.6% compared with 9M 2013 and amounted to RUB 4.7 bn.

Bank’s assets amounted to RUB 449.5 bn as at October 1, 2014 (+8.2% compared with January 1, 2014).

Liabilities. As at October 1, 2014, customer deposits totalled RUB 294.3 bn (+4.8% compared with January 1, 2014). The corporate customer deposits amounted to RUB 166.3 bn (+1.6% compared with January 1, 2014). Retail customer deposits amounted to RUB 128.0 bn (+9.3% compared with January 1, 2014).

As at October 1, 2014, the Bank’s total capital calculated under the CBR regulations (Basel III) amounted to RUB 50.8 bn. As a result, the Tier 1 capital adequacy ratio (N1.2) as at October 1, 2014 amounted to 9.1% (required regulatory minimum is 5.5%) and the total capital adequacy ratio (N1.0) as at October 1, 2014 amounted to 13.3% (required regulatory minimum is 10%).

Loan portfolio increased by 5.4% compared with January 1, 2014 and amounted to RUB 281.2 bn. Loans to individuals amounted to RUB 48.7 bn (+14.1% compared with January 1, 2014). Loans to legal entities amounted to RUB 232.5 bn (+3.8% compared with January 1, 2014).

As at October 1, 2014, provisions amounted to RUB 21.1 bn. Provisions-to-loans ratio amounted to 7.5%. As at October 1, 2014, the share of the overdue loans amounted to 2.7%; the level of coverage of the overdue loans by provisions amounted to 279%.

9M 2014 RAS Financial Statements are available on the Bank’s website: https://www.bspb.ru/en/investors/financial-statements/RAS/.

Tags: IR News