28.01.2015

Bank Saint Petersburg announces preliminary FY 2014 results under the Russian accounting standards (RAS)

Bank Saint Petersburg summarized its performance for FY 2014 under RAS*.

* These results may be subject to change following the subsequent events and the annual audit for FY 2014. The numbers as at January 1, 2014 include the effect of the subsequent events; the numbers as at January 1, 2015 do not include the effect of the subsequent events

Financial highlights for FY 2014 under RAS:

  • FY 2014 Net Income increased by 88.9% compared with FY 2013 and amounted to RUB 6.0 bn;
  • Net Interest Income for FY 2014 increased by 35.5% compared with FY 2013 to RUB 18.3 bn;
  • Net Fee and Commission Income for FY 2014 increased by 28.5% compared with FY 2013 and amounted to RUB 3.1 bn;
  • Retail customer deposits during FY 2014 increased by 21.6% to RUB 142.4 bn;        
  • Total capital as at January 1, 2015, amounted to RUB 58.4 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 55 000 corporates. As at January 1, 2015, the number of cards issued by the Bank exceeded 940 000; the Bank’s ATM network comprised of 658 ATMs. At present Internet-Bank is actively used by 408 000 clients.

Net Interest Income for FY 2014 increased by 35.5% compared with FY 2013 and amounted to RUB 18.3 bn. Interest expenses are net of RUB 2.8 bn loss from fully impaired loans disposal. Net Fee and Commission Income for FY 2014 increased by 28.5% compared with FY 2013 and amounted to RUB 3.1 bn. Net Trading Income for FY 2014 amounted to RUB 2.5 bn. Profit before Tax for FY 2014 amounted to RUB 7.0 bn. FY 2014 Net Income increased by 88.9% compared with FY 2013 and amounted to RUB 6.0 bn.

Bank’s assets amounted to RUB 530.3 bn as at January 1, 2015 (+27.7% compared with January 1, 2014).

Liabilities. As at January 1, 2015, customer deposits totalled RUB 345.9 bn (+23.2% compared with January 1, 2014). The corporate customer deposits amounted to RUB 203.5 bn (+24.3% compared with January 1, 2014). Retail customer deposits amounted to RUB 142.4 bn (+21.6% compared with January 1, 2014).

As at January 1, 2015, the Bank’s total capital calculated under the CBR regulations (Basel III) amounted to RUB 58.4 bn. As a result, the Tier 1 capital adequacy ratio (N1.2) as at January 1, 2015 amounted to 8.4% (required regulatory minimum is 5.5%) and the total capital adequacy ratio (N1.0) as at January 1, 2015 amounted to 13.3% (required regulatory minimum is 10%).

Loan portfolio increased by 16.3% compared with January 1, 2014 and amounted to RUB 310.3 bn. Loans to individuals amounted to RUB 53.2 bn (+24.4% compared with January 1, 2014). Loans to legal entities amounted to RUB 257.1 bn (+14.8% compared with January 1, 2014).

As at January 1, 2015, provisions amounted to RUB 23.3 bn. Provisions-to-loans ratio amounted to 7.5%. As at January 1, 2015, the share of the overdue loans amounted to 2.7%; the level of coverage of the overdue loans by provisions amounted to 281%.

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

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