11.07.2017

Bank Saint Petersburg posted the highest half-yearly RAS profit in 6 years

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

Financial highlights for 1H 2017:

- Net Income for 1H 2017 amounted to RUB 3.2 bn, the highest net income since 1H 2011;

- Revenues for 1H 2017 remained at the level of 1H 2016 and amounted to RUB 15.4 bn;

- Net Fee and Commission Income for 1H 2017 amounted to RUB 2.4 bn (+6.5% compared with 1H 2016);

- Net Trading Income for 1H 2017 amounted to RUB 4.1 bn (+80% compared with 1H 2016);

- Total Capital amounted to RUB 68.5 bn as at July 1, 2017.

Bank Saint Petersburg is ranked 18th in terms of assets and 18th in terms of retail deposits among the Russian banks as at April 1, 2017 (Interfax ranking). As at July 1, 2017, the Bank provides services to 1 830 000 individuals and 52 000 corporates; the number of cards issued by the Bank is 1 098 000; the Bank’s card network comprised of 789 ATMs. At present Internet Bank is actively used by 850 000 clients.

Among the significant events of 1H 2017, is decision of the Annual General Shareholders Meeting to allocate 20% of FY 2016 RAS net profit for dividends.

Results summary for 1H 2017

Net Interest Income for 1H 2017 amounted to RUB 8.6 bn (-14.4% compared with 1H 2016). Net Fee and Commission Income for 1H 2017 increased by 6.5% compared with 1H 2016 and amounted to RUB 2.4 bn. Net Trading Income for 1H 2017 amounted to RUB 4.1 bn (+80% compared with 1H 2016). Revenues for 1H 2017 amounted to RUB 15.4 bn (+1.1% compared with 1H 2016).

Operating expenses decreased by 4.7% compared with 1H 2016 and amounted to RUB 5.8 bn. Cost-Income Ratio for 1H 2017 amounted to 38.1%.

Net Income for 1H 2017 amounted to RUB 3.2 bn, the highest net income since 1H 2011 (net income increased 2.4 times compared with 1H 2016).

Bank’s assets amounted to RUB 552.7 bn as at July 1, 2017 (-2.1 % compared with January 1, 2017).

Liabilities. As at July 1, 2017, customer deposits totalled RUB 322.5 bn (-9.2% compared with January 1, 2017). The corporate customer deposits amounted to RUB 125.8 bn (-25.8% compared with January 1, 2017). Retail customer deposits amounted to RUB 196.7 bn (+6.1% compared with January 1, 2017).

As at July 1, 2017, the Bank’s total capital calculated under the CBR regulations (Basel III) amounted to RUB 68.5 bn. As a result, the Tier 1 capital adequacy ratio (N1.2) as at July 1, 2017 amounted to 8.9% (required regulatory minimum is 6.0%) and the total capital adequacy ratio (N1.0) as at July 1, 2017 amounted to 13.9% (required regulatory minimum is 8.0%).

Loan portfolio totalled RUB 349.9 bn as at July 1, 2017 (+0.4% compared with January 1, 2017). Corporate loan portfolio amounted to RUB 287.2 bn (-1.8% compared with January 1, 2017). Loans to individuals amounted to RUB 62.6 bn (+12.0% compared with January 1, 2017). As at July 1, 2017, the share of the overdue loans amounted to 5.2%; the level of coverage of the overdue loans by provisions amounted to 207%.

Tags: IR News