13.10.2016

Bank Saint Petersburg Announces 9M 2016 RAS Results

Bank Saint Petersburg summarized its performance for 9M 2016 under RAS (non-сonsolidated financials calculated in accordance with BSPB`s internal methodology based on RAS).

Financial highlights for 9M 2016:

- Net Income for 9M 2016 amounted to RUB 1.7 bn (remained at the level of 9M 2015);

- Net Interest Income for 9M 2016 amounted to RUB 15.4 bn (+31.4% y-o-y);

- Net Fee and Commission Income for 9M 2016 amounted to RUB 3.4 bn (+22.1% y-o-y);

- Net Trading Income for 9M 2016 amounted to RUB 3.3 bn;

- Total capital amounted to RUB 68.9 bn as at October 1, 2016.

Bank Saint Petersburg is ranked 16th in terms of assets and 14th in terms of retail deposits among the Russian banks (Interfax ranking). As at October 1, 2016, the Bank provides services to 1 730 000 individuals and 56 000 corporates; the number of cards issued by the Bank is 1 040 000; the Bank’s card network comprised of 762 ATMs. At present Internet Bank is actively used by 720 000 clients.

Since September 15, 2016, Maris Mancinskis has joined Bank Saint Petersburg as Chief Executive Officer (СЕО). Mr. Mancinskis is in charge of day-to-day operations, governing Deputy Chairs of the Management Board.

Among other significant events of 3Q 2016 were the opening of representative office in Novosibirsk and the launch of a new generation Mobile Bank. The Bank also started issuing cards of the MIR payment system and acquiring cards JCB, one of the leading international payment systems.

Results summary for 9M 2016

Net Interest Income for 9M 2016 increased by 31.4% y-o-y and amounted to RUB 15.4 bn. Net Fee and Commission Income for 9M 2016 increased by 22.1% y-o-y and amounted to RUB 3.4 bn. Net Trading Income for 9M 2016 amounted to RUB 3.3 bn. Revenues for 9M 2016 increased by 21.2% y-o-y and amounted to RUB 23.0 bn.

Operating expenses increased by 34.9% y-o-y and amounted to RUB 8.9 bn. Cost-Income Ratio for 9M 2016 amounted to 39,0%.

Net Income for 9M 2016 remained at the level of 9M 2015 and amounted to RUB 1.7 bn.

Bank’s assets amounted to RUB 532.8 bn as at October 1, 2016 (+3.1% y-o-y).

Liabilities. As at October 1, 2016, customer deposits totalled RUB 330.8 bn (+2.0% y-o-y). The corporate customer deposits amounted to RUB 143.6 bn (-7.6% y-o-y). Retail customer deposits amounted to RUB 187.0 bn (+10.8% y-o-y).

As at October 1, 2016, the Bank’s total capital calculated under the CBR regulations (Basel III) amounted to RUB 68.9 bn. As a result, the Tier 1 capital adequacy ratio (N1.2) as at October 1, 2016 amounted to 8.8% (required regulatory minimum is 6.0%) and the total capital adequacy ratio (N1.0) as at October 1, 2016 amounted to 14.3% (required regulatory minimum is 8.0%).

Loan portfolio totalled RUB 351.2 bn (+4.6% y-o-y). Corporate loan portfolio amounted to RUB 292.9 bn (+4.2% y-o-y). Loans to individuals amounted to RUB 58.3 bn (+7.0% y-o-y). As at October 1, 2016, the share of the overdue loans amounted to 4.2%; the level of coverage of the overdue loans by provisions amounted to 238%.

Tags: IR News