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This document is confidential and issued to a limited number of parties for informational purposes only.
This document (or any part thereof) does not constitute and shall not be interpreted as an offering memorandum (according to any applicable legislation), invitation or request on placement of securities or other means of Company’s securities acquisition.
Neither this document nor any part thereof constitutes the basis for or be construed or interpreted as a contract or obligation, related to Company’s shares acquisition. Subsequently this document or any part thereof shall not be used as grounds or reference in taking any decision under agreement or obligation with respect to acquiring Company’s shares. Any person willing to acquire Company’s shares shall independently obtain relevant information prior to taking investment decision.
Information in this document is not overall and may not be the basis for taking such investment decision. Information in this document is not comprehensive and may be amended.
Financial and other details and information in this document were collected from a number of sources, including those of Company’s data and publicly available sources. These details and information were not however verified and may be corrected.
This document may contain forward-looking statement. Forward-looking statements are not historic evidences and shall be deemed to be accompanied by the words “think”, “suppose”, “expect”, “intend”, “assess”, “will”, “may”, “continue”, “have to” or similar expressions. These assumptions essentially provide for revealed and non-revealed risks, uncertainties, unforeseen circumstances and other important factors of any kind which are hard or impossible to predict, which are beyond the Company’s control, and which may take effects substantially varying from details indicated in this document or deemed as forward-looking statements of this document. The Company does not consider, update or confirm expectations or assessments of the recipients and does not publish any further information, which would reflect current events or appeared circumstances after the date of this document.
Neither the Company nor its employers, managers, representatives, agents, advisors or consultants (including persons indicated below) undertake liability for distribution of these materials to any jurisdiction. The receipt of this document may be subject to legal restrictions in some jurisdictions. The Company, its financial advisor and consultants ask any recipient of this document to inform himself about and observe any applicable legal requirements. This document is not subject to distribution or using by any individual or legal entity, being the citizen or resident or located in any residential area, state, country or other jurisdiction, where such distribution, publication, availability or usage may be illegal or requires any registration or license.
This document is not an offer, or an invitation to make offers, sell, purchase, exchange or transfer any securities in the Russian Federation or for the benefit of any Russian person or any person in the Russian Federation, and does not constitute an advertisement of any securities or assets in the Russian Federation.
Important notice
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Sovcombank – focus on sustainable return
Focus on return
EMPHASIS ON RETAIL BUSINESS AND BALANCED APPROACH TO RISK
• Sovcombank is in the Top 3 among the hundred largest Russian banks in terms of return on capital
• The Bank generated 57% return on capital in 2011
Attractive niche market
• Target customers – retired individuals with relatively small accounts and low mobility
• Minimum deposit amount is set at only RUR 5-10 thou
Strong market position
• Sovcombank is in the Top 30 Russian banks ranked by value of loan portfolio
• The Bank is focused on retail segment with loans to individuals making up over 80% of the total loan portfolio
Important player
• The Bank is among the Top 60 by asset size – RUR 89 bn*
• Sovcombank is Russia’s 33rd largest bank by value of deposits of individuals (RUR 52 bn)*
Highly competitive offering
• During the global recession Sovcombank became the market leader in terms of growth in the customer base delivering solid growth against the backdrop of declining market and poor peer performance
Broad market reach
• Extensive regional network: 265 branches, 1,187 mini-offices and 257 points of sale across 500 locations
• Bank operates over 900 ATM and 1,200 EFTPOS terminals
Balanced approach to risk
• The Bank is focused on generating high and sustainable return driven by customer loyalty and retention
• Sovcombank maintains rather conservative approach to risk taking aiming at low volatility of returns
* As of 31 October 2012
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Source: Sovcombank
Sovcombank in numbers
Deposits Capital, NII and net profit
Source: Sovcombank Source: Sovcombank
RUR bn
RUR mn
Assets Loan Portfolio
RUR bn RUR bn
Source: Sovcombank
• The Bank is among the Top 60 Russian banks by asset size with the total asset value of RUR 89 bn*
• Consumer loans make up over 80% of the Banks’s loan portfolio
• Sovcombank is Russia’s 27th largest bank by value of consumer loan portfolio*
• Consumer loans are matched by 89% of total deposits being raised from individuals
• Sovcombank is Russia’s 33rd largest bank by value of deposits of individuals with RUR 52 bn* raised
• The Bank tailors its market offering to retired individuals
• Starting from 2009 the Bank’s assets increased by 2.5 times and the Bank’s capital nearly tripled
* Banki.ru statistics as of 31 October 2012
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RATINGS AND KEY FINANCIALS
Peer comparison
Source: Sovcombank Source: Sovcombank
%
Expenses as a share of net profit*
Return on capital* Deposits as a share of total liabilities*
Long-term rating
Source: Sovcombank
translated to Moody’s scale %
Source: Sovcombank
%
• The Russian rating agency Expert RA assigned A rating to Sovcombank underlying “Very high creditworthiness”
• Rating agency RusRating assigned A+ rating to Sovcombank on a national scale
• Financial health was assessed as highly strong and sustainable
* SCB – Sovcombank, HCF – Home Credit Bank, GE Money – GE Money Russia, VE –
Bank Vostochniy Express, RenCred – Renaissance Credit, OTP – OTP Bank,
TKS – Tinkoff Creditnye Systemy
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Sovcombank: History in brief
1990 1990
The Bank’s head office was transferred to Kostroma with subsequent change of name to Sovcombank
Sovcombank capital base was supported by an injection from the Dutch investment fund TBIF
Kardan Group acquired stake in the Bank. The Bank and ARKA Group were merged to become a large regional banking group with a full range of banking services and extensive regional presence
Sovcombank expanded its branch network to 30 Russian regions and significantly increased volume of retail lending through over 1,000 points of sale. The Bank’s business processes were streamlined with implementation of new management technologies
Considerable growth in consumer lending. Opening of the Samara and Nizhny Novgorod branches, ATM network grew to 583 convenient locations and 921 EFTPOS terminals
2012
2001
2003
2004
2007
2008
The Bank received loans from EBRD and from the Netherlands Development Finance Company thus gaining access to unsecured government financing which it used to successfully introduce its ‘Loans to SMB’ program
2009-2010
2011
Kardan Group’s equity stake repurchased
The Bank was established in Buy city in Kostroma region under the original name of Buycombank
2001 The Bank was acquired by its current management team
2003
2004
2007
2008
2011
2012
2009-2010
10
The Bank’s geography
Sovcombank is present in over 500 Russian cities across 30 regions
The Bank’s deposit geography is heavily geared towards Moscow (around 50%) and Kostroma (around 30%). Branches in other cities attracted around 20% deposits
Consumer loan portfolio is well diversified by geography
Sovcombank intends to focus on strengthening its existing presence with limited geographic expansion in new regions
Vladimir region
Amur region
Vologda region
Voronezh
region
13
Altai region
9
5
6
5
1
Evreyskaya AO
10
Irkutsk region
1
Kamchatka
region
15 Kemerovo region
11
Yaroslavl
region
16 Kostroma region
Krasnodar
region
23
14
Krasnoyarsk region
Lipetsk
region
1
67
Moscow and
Moscow region
16
Novosibirsk region
9
Omsk
region
Orenburg
region
8
1
Altai republic
18
Primorsk region
Sakhalin region
1 Samara region
4 7
Tomsk
region 4
Tyumen
region
Khabarovsk
region
8
Khakasiya
republic
4
14
Chelyabinsk
region
1
- Existing presence
- Number of offices
9
Ivanovo region
Source: Sovcombank
PRIMARY OBJECTIVE – STRENGTHENING EXISTING PRESENCE
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Organisational structure The Bank’s organisational
structure includes several layers of authority
The Board of Directors members are appointed at the General Shareholders Meeting and retain the ultimate responsibility for decision making
The Management Board is accountable to the Board of Directors and comprises four executive directors
The Management Board is led by Dmitry Gusev
Decision making at the Management Board level is supported by the Retail Business and Corporate Business Committees responsible for management decisions in the relevant business area
Effective control and monitoring at the Board of Directors level is supported by the operation of the Audit Committee
Key committees
Retail Business Committee
Corporate Business Committee
Audit Committee
Composition: 9 members Meeting schedule: twice a month Competence: retail lending policy (including products, network, interest
rates and risks)
Composition: 8 members Meeting schedule: twice a month Competence: corporate lending policy (including products, maximum
exposure and interest rates)
Composition: 8 members Meeting schedule: once a quarter Competence: auditor appointments, internal control system appraisal
and monitoring
Board of Directors
Management Board Corporate Business
Committee Retail Business Committee
Internal Control Service Audit Committee
Other committees
General Shareholders’ Meeting
Organisational Structure
Management Board Corporate Business
Committee Retail Business Committee
Internal Control Service
Other committees
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Management
Dmitry Gusev
Chairman
Born in 1976, holds a graduate degree from the Financial University under the Government of the Russian Federation, major in Finance and Credit.
Before joining ICB Sovcombank Dmitry held Partner position at Deloitte & Touche in Moscow. In 2007-2008 he held Advisor to Chairman position in the Moscow branch of the ICB Sovcombank. In 2008-2011 Dmitry was a member of the Board of Directors and held Deputy Chairman position at ICB Sovcombank.
From 2011 Dmitry Gusev leads the Board of Directors of Sovcombank.
Sergey Khotimskiy
First Deputy Chairman, Managing Director
Born in 1978, Sergey holds a graduate degree in law from Moscow International University.
From 2007 Sergey holds First Deputy Chairman and the Managing Director position of ICB Sovcombank. From 2008 he is a member of the Board of Directors and Management Board of ICB Sovcombank. In 2010 Sergey joined the Board of Directors of SOLLERS-FINANS.
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Management (cont’d)
Kirill Sokolov
First Deputy Chairman
Born in 1979, Kirill holds graduate degree from Novosibirskiy State University, major in Mathematic Methods in Economics.
In 2006-2008 Kirill held CFO position of ICB Sovcombank.
From 2008 Kirill holds First Deputy Chairman position and is a member of the Board of Directors of ICB Sovcombank.
Elena Sarycheva
Deputy Chairman
Born in 1971, Elena holds a graduate degree from the State Academy of Service in Tolyatti, major in accounting.
In 2004-2008 Elena held Chief Accountant position in the Moscow branch of ICB Sovcombank.
From 2008 Elena holds Deputy Chairman position and is a member of the Board of Directors of ICB Sovcombank.
Contacts Moscow City, 129090
Shepkina, 28
Tel.: +(495) 988 93 70
E-mail: [email protected]
Web: www. sovcombank.ru