19.01.2017

Bank Saint Petersburg announces preliminary FY 2016 RAS Results

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

These results may be subject to change following the subsequent events and the annual audit for FY 2016. The financials as at January 1, 2016 include the effect of the subsequent events; the numbers as at January 1, 2017 do not include the effect of the subsequent events.

Financial highlights for FY 2016:

- Revenues for FY 2016 amounted to RUB 32.0 bn (+16.5% compared with FY 2015);

- Net Interest Income for FY 2016 amounted to RUB 21.4 bn (+30.5% compared with FY 2015);

- Net Fee and Commission Income for FY 2016 amounted to RUB 4.6 bn (+17.6% compared with FY 2015);

- Net Income for FY 2016 amounted to RUB 2.3 bn (remained at the level of FY 2015);

- Total Capital amounted to RUB 68.1 bn as at January 1, 2017.

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 January 1, 2017, the Bank provides services to 1 770 000 individuals and 56 000 corporates; the number of cards issued by the Bank is 1 050 000; the Bank’s card network comprised of 781 ATMs. At present Internet Bank is actively used by 770 000 clients.

Among the significant events of 2016 were the listing upgrade to the MOEX Level 1, the debut transaction of mortgage loan portfolio securitization, the launch of a new generation Mobile Bank, Apple Pay and Samsung Pay contactless payment services becoming available to the Bank's customers, the rating assigned to the Bank by ACRA Rating Agency.

Results summary for FY 2016

Net Interest Income for FY 2016 increased by 30.5% compared with FY 2015 and amounted to RUB 21.4 bn. Net Fee and Commission Income for FY 2016 increased by 17.6% compared with FY 2015 and amounted to RUB 4.6 bn. Net Trading Income for FY 2016 amounted to RUB 3.7 bn. Revenues for FY 2016 increased by 16.5% compared with FY 2015 and amounted to RUB 32.0 bn.

Operating expenses increased by 35.9% compared with FY 2015 and amounted to RUB 13.0 bn. Cost-Income Ratio for FY 2016 amounted to 40.5%.

Net Income for FY 2016 remained at the level of FY 2015 and amounted to RUB 2.3 bn.

Bank’s assets amounted to RUB 564.8 bn as at January 1, 2017 (+3.0% y-o-y).

Liabilities. As at January 1, 2017, customer deposits totalled RUB 355.0 bn (+4.6% y-o-y). The corporate customer deposits amounted to RUB 169.6 bn (+10.2% y-o-y). Retail customer deposits amounted to RUB 185.5 bn (-0.1% y-o-y).

As at January 1, 2017, the Bank’s total capital calculated under the CBR regulations (Basel III) amounted to RUB 68.1 bn. As a result, the Tier 1 capital adequacy ratio (N1.2) as at January 1, 2017 amounted to 8.9% (required regulatory minimum is 6.0%) and the total capital adequacy ratio (N1.0) as at January 1, 2017 amounted to 14.3% (required regulatory minimum is 8.0%).

Loan portfolio totalled RUB 348.3 bn as at January 1, 2017 (-1.7% y-o-y). Corporate loan portfolio amounted to RUB 292.4 bn (-2.3% y-o-y). Loans to individuals amounted to RUB 55.9 bn (+1.3% y-o-y). As at January 1, 2017, the share of the overdue loans amounted to 3.3%; the level of coverage of the overdue loans by provisions amounted to 299%.

Tags: IR News