16.04.2019

Bank Saint Petersburg increases RAS net income in 1Q 2019 by 4.2%

Bank Saint Petersburg summarized its performance for 1Q 2019 under RAS (non-сonsolidated financials calculated in accordance with BSPB`s internal methodology based on RAS).

Financial highlights for 1Q 2019:

- Net Income for 1Q 2019 amounted to RUB 1.2 bn and increased by 4.2% compared with 1Q 2018;
- Net Interest Income for 1Q 2019 amounted to RUB 5.2 bn (+2.7% compared with 1Q 2018);
- Net Fee and Commission Income for 1Q 2019 amounted to RUB 1.4 bn (+6.9% compared with 1Q 2018);
- Loans to individuals for 1Q 2019 increased by 5.1% and amounted to RUB 84.5 bn;

Bank Saint Petersburg is ranked 16th in terms of assets and 15th in terms of retail deposits among the Russian banks (Interfax ranking). As at April 1, 2019, the Bank provides services to 2 120 000 individuals and 50 000 corporates; the number of cards issued by the Bank is 1 360 000; the Bank’s card network comprised of 800 ATMs. At present Internet Bank is used by 1 165 000 clients.

Results summary for 1Q 2019

Net Interest Income for 1Q 2019 amounted to RUB 5.2 bn (+2.7% compared with 1Q 2018). Net Fee and Commission Income for 1Q 2019 increased by 6.9% compared with 1Q 2018 and amounted to RUB 1.4 bn. Net Trading loss for 1Q 2019 amounted to RUB 0.5 bn (compared with RUB 0.4 bn 1Q 2018 income). Revenues for 1Q 2019 amounted to RUB 6.4 bn (-7.1% compared with 1Q 2018). The decrease in revenue is due to negative net trading result.

Operating expenses for 1Q 2019 amounted to RUB 3.6 bn (+16.8% compared with 1Q 2018). The increase in q-on-q expenses is due to the unevenness of expenses posted during the year.

Provision for loan impairment amounted to RUB 1.5 bn (-41.3% compared with 1Q 2018).

Net Income for 1Q 2019 amounted to RUB 1.2 bn and increased by 4.2% compared with 1Q 2018.

Bank’s assets amounted to RUB 599.2 bn as at April 1, 2019 (-8.1 % compared with January 1, 2019).

Liabilities. As at April 1, 2019, customer deposits totalled RUB 403.2 bn (-2.4% compared with January 1, 2019). The corporate customer deposits amounted to RUB 164.6 bn (-1.3% compared with January 1, 2019). Retail customer deposits amounted to RUB 238.7 bn (-3.1% compared with January 1, 2019).

As at April 1, 2019, the Bank’s total capital calculated under the CBR regulations (Basel III) amounted to RUB 77.1 bn (+3.0% compared with January 1, 2019). As a result, the Tier 1 capital adequacy ratio (N1.2) as at April 1, 2019 amounted to 10.4% (required regulatory minimum is 6.0%) and the total capital adequacy ratio (N1.0) as at April 1, 2019 amounted to 14.5% (required regulatory minimum is 8.0%).

Loan portfolio totalled RUB 364.8 bn as at April 1, 2019 (-1.1% compared with January 1, 2019). Corporate loan portfolio amounted to RUB 280.3 bn (-2.8% compared with January 1, 2019). Loans to individuals amounted to RUB 84.5 bn (+5.1% compared with January 1, 2019). As at April 1, 2019, the share of the overdue loans amounted to 4.9%.

Tags: IR News