21.04.2017

Bank Saint Petersburg announces 1Q 2017 RAS Results

Bank Saint Petersburg summarized its performance for 1Q 2017 under RAS (non-сonsolidated financials calculated in accordance with BSPB`s internal methodology based on RAS).

Financial highlights for 1Q 2017:

- Revenues for 1Q 2017 remained at the level of 1Q 2016 and amounted to RUB 7.2 bn;

- Net Fee and Commission Income for 1Q 2017 amounted to RUB 1.1 bn (+6.8% compared with 1Q 2016);

- Net Trading Income for 1Q 2017 amounted to RUB 1.6 bn (+57% compared with 1Q 2016);

- Net Income for 1Q 2017 amounted to RUB 595 mln;

- Total Capital amounted to RUB 66.9 bn as at April 1, 2017.

Bank Saint Petersburg is ranked 18th in terms of assets and 18th in terms of retail deposits among the Russian banks (Interfax ranking). As at April 1, 2017, the Bank provides services to 1 800 000 individuals and 52 000 corporates; the number of cards issued by the Bank is 1 050 000; the Bank’s card network comprised of 787 ATMs. At present Internet Bank is actively used by 809 000 clients.

Among the significant events of 1Q 2017, is recommendations of the Supervisory Board to allocate 20% of FY 2016 RAS net income for dividends.

Results summary for 1Q 2017

Net Interest Income amounted to RUB 4.3 bn (-9.8% compared with 1Q 2016). Net Fee and Commission Income for 1Q 2017 increased by 6.8% compared with 1Q 2016 and amounted to RUB 1.1 bn. Net Trading Income for 1Q 2017 amounted to RUB 1.6 bn (+57% compared with 1Q 2016). Revenues for 1Q 2017 remained at the level of 1Q 2016 and amounted to RUB 7.2 bn.

Operating expenses decreased by 8.1% compared with 1Q 2016 and amounted to RUB 2.9 bn. Cost-Income Ratio for 1Q 2017 amounted to 40.7%.

Net Income amounted to RUB 595 mln.

Bank’s assets amounted to RUB 541.7 bn as at April 1, 2017 (-4.1 % compared with January 1, 2017).

Liabilities. As at April 1, 2017, customer deposits totalled RUB 325.3 bn (-8.4% compared with January 1, 2017). The corporate customer deposits amounted to RUB 142.6 bn (-15.9% compared with January 1, 2017). Retail customer deposits amounted to RUB 182.7 bn (-1.5% compared with January 1, 2017).

As at April 1, 2017, the Bank’s total capital calculated under the CBR regulations (Basel III) amounted to RUB 66.9 bn. As a result, the Tier 1 capital adequacy ratio (N1.2) as at April 1, 2017 amounted to 9.0% (required regulatory minimum is 6.0%) and the total capital adequacy ratio (N1.0) as at April 1, 2017 amounted to 13.5% (required regulatory minimum is 8.0%).

Loan portfolio totalled RUB 342.1 bn as at April 1, 2017 (-1.8% compared with January 1, 2017). Corporate loan portfolio amounted to RUB 284.7 bn (-2.6% compared with January 1, 2017). Loans to individuals amounted to RUB 57.3 bn (+2.6% compared with January 1, 2017). As at April 1, 2017, the share of the overdue loans amounted to 4.7%; the level of coverage of the overdue loans by provisions amounted to 228%.

Tags: IR News