16.04.2018

1Q 2018 RAS profit of Bank Saint Petersburg has doubled

Bank Saint Petersburg summarized its performance for 1Q 2018 under RAS (non-сonsolidated financials calculated in accordance with BSPB`s internal methodology based on RAS).
 

Financial highlights for 1Q 2018:

  • Net Income for 1Q 2018 has doubled compared with 1Q 2017 and amounted to RUB 1.1 bn;
  • Net Interest Income for 1Q 2018 amounted to RUB 5.1 bn (+17.8% compared with 1Q 2017);
  • Net Fee and Commission Income for 1Q 2018 amounted to RUB 1.3 bn (+17.0% compared with 1Q 2017);
  • Total Capital amounted to RUB 72.9 bn as at April 1, 2018.

Bank Saint Petersburg is ranked 16th in terms of assets and 15th in terms of retail deposits among the Russian banks as at January 1, 2018 (Interfax ranking). As at April 1, 2018, the Bank provides services to 1 965 000 individuals and 51 000 corporates; the number of cards issued by the Bank is 1 320 000; the Bank’s card network comprised of 814 ATMs. At present Internet Bank is used by 1 000 000 clients.

Results summary for 1Q 2018
 

Net Interest Income for 1Q 2018 amounted to RUB 5.1 bn (+17.8% compared with 1Q 2017). Net Fee and Commission Income for 1Q 2018 increased by 17.0% compared with 1Q 2017 and amounted to RUB 1.3 bn. Net Trading Income for 1Q 2018 amounted to RUB 371 million. Revenues for 1Q 2018 amounted to RUB 6.9 bn (-4.4% compared with 1Q 2017).

Operating expenses for 1Q 2018 amounted to RUB 3.1 bn (+6.0% compared with 1Q 2017). Cost-Income Ratio for 1Q 2018 amounted to 44.7%.

Net Income for 1Q 2018 has doubled compared with 1Q 2017 and amounted to RUB 1.1 bn.

Bank’s assets amounted to RUB 593.4 bn as at April 1, 2018 (-0.2 % compared with January 1, 2018).

Liabilities. As at April 1, 2018, customer deposits totalled RUB 352.2 bn (-2.0% compared with January 1, 2018). The corporate customer deposits amounted to RUB 148.1 bn (-4.7% compared with January 1, 2018). Retail customer deposits amounted to RUB 204.1 bn (+0.2% compared with January 1, 2018).

As at April 1, 2018, the Bank’s total capital calculated under the CBR regulations (Basel III) amounted to RUB 72.9 bn (+1.7% compared with January 1, 2018). As a result, the Tier 1 capital adequacy ratio (N1.2) as at April 1, 2018 amounted to 10.8% (required regulatory minimum is 6.0%) and the total capital adequacy ratio (N1.0) as at April 1, 2018 amounted to 15.3% (required regulatory minimum is 8.0%).

Loan portfolio totalled RUB 349.1 bn as at April 1, 2018 (-1.3% compared with January 1, 2018). Corporate loan portfolio amounted to RUB 274.3 bn (-2.4% compared with January 1, 2018). Loans to individuals amounted to RUB 74.8 bn (+2.9% compared with January 1, 2018). As at April 1, 2018, the share of the overdue loans amounted to 4.4%; the level of coverage of the overdue loans by provisions amounted to 252%.

Tags: IR News