11.10.2017

9M 2017 RAS profit of Bank Saint Petersburg has doubled

Bank Saint Petersburg summarized its performance for 9M 2017 under RAS (non-сonsolidated financials calculated in accordance with BSPB`s internal methodology based on RAS).

Financial highlights for 9M 2017:

  • Net Income for 9M 2017 has doubled compared with 9M 2016 and amounted to RUB 3.4 bn;
  • Net Fee and Commission Income for 9M 2017 amounted to RUB 3.7 bn (+6.8% compared with 9M 2016);
  • Net Trading Income for 9M 2017 amounted to RUB 5.5 bn (+70% compared with 9M 2016);
  • Loans to individuals increased for 9M 2017 by 21% and amounted to RUB 67.7 bn;
  • Total Capital amounted to RUB 70.9 bn as at October 1, 2017.

Bank Saint Petersburg is ranked 18th in terms of assets and 15th in terms of retail deposits among the Russian banks (Interfax ranking). As at October 1, 2017, the Bank provides services to 1 890 000 individuals and 51 000 corporates; the number of cards issued by the Bank is 1 160 000; the Bank’s card network comprised of 803 ATMs. At present Internet Bank is used by 900 000 clients.

In 3Q 2017, the Bank successfully completed the placement of 60 mln new ordinary shares, thus increasing its capital by RUB 3.2 bn. The transaction drew strong interest from existing and new institutional investors: more than 50 funds took part in the placement by exercising their pre-emptive rights or through open subscription.

Results summary for 9M 2017

Net Interest Income for 9M 2017 amounted to RUB 13.7 bn (-10.9% compared with 9M 2016). Net Fee and Commission Income for 9M 2017 increased by 6.8% compared with 9M 2016 and amounted to RUB 3.7 bn. Net Trading Income for 9M 2017 amounted to RUB 5.5 bn (+70% compared with 9M 2016). Revenues for 9M 2017 amounted to RUB 23.4 bn (+1.9% compared with 9M 2016).

Operating expenses for 9M 2017 amounted to RUB 9.4 bn (+5.4% compared with 9M 2016). Cost-Income Ratio for 9M 2017 amounted to 40.3%.

Net Income for 9M 2017 has doubled compared with 9M 2016 and amounted to RUB 3.4 bn.

Bank’s assets amounted to RUB 560.6 bn as at October 1, 2017 (-0.7 % compared with January 1, 2017).

Liabilities. As at October 1, 2017, customer deposits totalled RUB 334.6 bn (-5.8% compared with January 1, 2017). The corporate customer deposits amounted to RUB 143.2 bn (-15.6% compared with January 1, 2017). Retail customer deposits amounted to RUB 191.4 bn (+3.2% compared with January 1, 2017).

As at October 1, 2017, the Bank’s total capital calculated under the CBR regulations (Basel III) amounted to RUB 70.9 bn (+3.9% compared with January 1, 2017). As a result, the Tier 1 capital adequacy ratio (N1.2) as at October 1, 2017 amounted to 10.3% (required regulatory minimum is 6.0%) and the total capital adequacy ratio (N1.0) as at October 1, 2017 amounted to 14.6% (required regulatory minimum is 8.0%).

Loan portfolio totalled RUB 345.4 bn as at October 1, 2017 (-0.9% compared with January 1, 2017). Corporate loan portfolio amounted to RUB 277.7 bn (-5.1% compared with January 1, 2017). Loans to individuals amounted to RUB 67.7 bn (+21.1% compared with January 1, 2017). As at October 1, 2017, the share of the overdue loans amounted to 5.1%; the level of coverage of the overdue loans by provisions amounted to 219%.

Tags: IR News