23.01.2019

Bank Saint Petersburg increases net income by 49% in FY 2018, earning RUB 6 bn

Bank Saint Petersburg announces its preliminary FY 2018 RAS results (non-сonsolidated financials calculated in accordance with BSPB`s internal methodology based on RAS) which may be subject to change following the subsequent events. The financials as at January 1, 2018 include the effect of the subsequent events; the numbers as at January 1, 2019 do not include the effect of the subsequent events.

Financial highlights for FY 2018:

- Net Income for FY 2018 amounted to RUB 6.0 bn and increased by 49.2% compared with FY 2017;

- Net Interest Income for FY 2018 amounted to RUB 22.1 bn (+14.1% compared with FY 2017);

- Loans to individuals increased in FY 2018 by 10.6% and amounted to RUB 80.3 bn;

- Retail deposits increased in FY 2018 by 20.8% and amounted to RUB 246.2 bn.

Bank Saint Petersburg is ranked 17th in terms of assets and 15th in terms of retail deposits among the Russian banks (Interfax ranking). As at January 1, 2019, the Bank provides services to 2 090 000 individuals and 50 000 corporates; the number of cards issued by the Bank is 1 354 000; the Bank’s card network comprised of 797 ATMs. At present Internet Bank is used by 1 130 000 clients.

In November 2018, the Supervisory Board of Bank Saint Petersburg approved a new Dividend Policy. The document establishes the Bank's intention to maintain dividend payout ratio not less than 20% of the Bank's IFRS net profit (according to audited consolidated financial statements, conditional on the availability of equity). For the last four years the Bank has paid out 20% of its RAS net profit as dividend, pursuant to the previous version of the Dividend Policy.

Results summary for FY 2018

Net Interest Income for FY 2018 amounted to RUB 22.1 bn (+14.1% compared with FY 2017). Net Fee and Commission Income for FY 2018 increased by 8.7% compared with FY 2017 and amounted to RUB 5.6 bn. Net Trading Income for FY 2018 amounted to RUB 3.8 bn (-43.1% compared with FY 2017). Revenues for FY 2018 amounted to RUB 32.4 bn, remaining at the previous year’s level.

Operating expenses for FY 2018 increased by 5.1% and amounted to RUB 14.0 bn. Cost-Income Ratio for FY 2018 amounted to 43.1%.

Net Income for FY 2018 amounted to RUB 6.0 bn (+49.2% from RUB 4.1 bn for FY 2017).

Bank’s assets amounted to RUB 651.7 bn as at January 1, 2019 (+9.6 % compared with January 1, 2018).

Liabilities. As at January 1, 2019, customer deposits totalled RUB 413.0 bn (+15.0% compared with January 1, 2018). Сorporate deposits amounted to RUB 166.7 bn (+7.3% compared with January 1, 2018). Retail deposits amounted to RUB 246.2 bn (+20.8% compared with January 1, 2018).

As at January 1, 2019, the Bank’s total capital calculated under the CBR regulations (Basel III) amounted to RUB 74.8 bn (+4.3% compared with January 1, 2018). As a result, the Tier 1 capital adequacy ratio (N1.2) as at January 1, 2019 amounted to 9.2% (required regulatory minimum is 6.0%) and the total capital adequacy ratio (N1.0) as at January 1, 2019 amounted to 13.8% (required regulatory minimum is 8.0%).

Loan portfolio totalled RUB 368.8 bn as at January 1, 2019 (+4.3% compared with January 1, 2018). Corporate loan portfolio amounted to RUB 288.5 bn (+2.6% compared with January 1, 2018). Loans to individuals amounted to RUB 80.3 bn (+10.6% compared with January 1, 2018). As at January 1, 2019, the share of the overdue loans amounted to 4.7%.

Tags: IR News