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All information for the investors is available on the Bank’s web site: https://www.bspb.ru/en/investors/ Contact information:
E-mail: [email protected] Phone: +7 812 332 78 36
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Strong Revenues driven by trading and F&C income RUB 4.1 bn
F&C income 23% growth y-o-y
Solid quarterly growth in retail lending 16%
Provisioning goes down ROAE back to double digits 10.8%
Costs flat
NIM decrease is the only 1Q weakness
In RUB bn Jan. 1, 2013 Apr. 1, 2013 YTD Apr. 1, 2012 Jan. 1, 2013 Apr. 1, 2013 q-o-q y-o-y
Total assets 351.37 348.86 -0.71% 340.70 351.37 348.86 -0.71% +2.39%
Gross Loans 246.50 256.09 +3.89% 232.11 246.50 256.09 +3.89% +10.33%
Customer Deposits* 228.04 236.14 +3.55% 224.47 228.04 236.14 +3.55% +5.20%
Total Capital 48.89 50.86 +4.03% 46.49 48.89 50.86 +4.03% +9.39%
FY 2012 1Q 2013 1Q 2012 4Q 2012 1Q 2013 q-o-q y-o-y
Net Interest Income 11.98 2.99 2.92 3.10 2.99 -3.68% +2.19%
Net Fee and Commission Income
2.35 0.59 0.48 0.70 0.59 -15.63% +23.31%
Revenues** 15.10 4.13 3.63 4.02 4.13 +2.73% +13.82%
Net Income 1.30 1.08 0.12 0.37 1.08 +189.35% +775.97%
FY 2012 1Q 2013 1Q 2012 4Q 2012 1Q 2013 q-o-q y-o-y
Net Interest Margin 3.85% 3.71% 3.75% 4.00% 3.71% -0.29 PP -0.04 PP
Cost/Income Ratio 47.63% 39.86% 46.50% 50.83% 39.86% -10.97 PP -6.64 PP
ROAE 3.24% 10.75% 1.24% 3.69% 10.75% +7.06 PP +9.51 PP
* Customer deposits are calculated as a sum of customer accounts and promissory notes (other debt securities in issue)
** Revenues calculation: gains from investment securities available for sale are excluded from revenues as one-off 4
* Provisions for 3Q 2012 reduced by the gain from disposal of investment property RUB 214 mln (related to the problem KD Avia loan)
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• Third quarter in a row of RUB 4 bn+ revenues
• F&C income 23% growth y-o-y
• Provisions put less pressure on ratios
• Costs flat
• ROAE returns to 10%+ level
6 *Property tax is excluded from other administrative and operating expenses and included in expenses related to premises and equipment.
Average interest rate
Contribution to NIM change:
Loans and advances to customers -31 bp
Amounts receivable under reverse repo -6 bp
Due to banks +27 bp
Retail term deposits -8 bp
Corporate term deposits -6 bp
Bonds issued +9 bp
Total -15 bp
Average balance
Contribution to NIM change:
Loans and advances to customers +8 bp
Amounts receivable under reverse repo +3 bp
Trading securities pledged under repo +7 bp
Due to banks -15 bp
Retail term deposits -7 bp
Corporate term deposits -3 bp
Bonds issued -9 bp
Total -16 bp
Other factors: +2 bp
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* Average assets: loans, due from banks, securities portfolio, correspondent accounts
** Average liabilities: due to banks, customer accounts including current accounts, debt securities in issue
• Collected interest on restructured loans is a key factor for
asset yields fluctuation
• Maths effect has further influence on NIM
• Loans/Deposits Ratio close to targeted 100%
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16% growth in retail portfolio
Retail loans 82% growth y-o-y
Large customer base: over 1.2 million retail customers as of
April 1, 2013
Internet-Bank – 182,100 users
The number of cards totalled to 766,320 572 ATMs
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BSPB ranked 3d among all banks and 1st among the privately-owned banks in St. Petersburg mortgage lending market
17.3% share in new mortgage lending during 1Q13
Note: Provision charge calculation: net result on recognition/early redemption of loans granted at non-market rates
Provisions for 3Q 2012 reduced by the gain from disposal of investment property RUB 214 mln (related to the problem KD Avia loan)
Overdue loans and impaired not past due loans include the whole principle of loan at least one day overdue or impaired
• Loan portfolio growth in 1Q 2013: Before provisions: +3.9% compared with January 1, 2013 After provisions: +3.9% compared with January 1, 2013 • As at April 1, 2013: Corporate overdue loans – 5.61% (5.31% as at January 1, 2013) Retail overdue loans – 3.52% (3.65% as at January 1, 2013) • RUB 96.1 mln of the loan portfolio written off in 1Q 2013
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* Trading securities portfolio includes trading securities and trading securities pledged under sale and repurchase agreements
• Conservative approach to risk: 90%+ of the debt securities belong to the CBR Lombard list
• Average duration is 1.4 years
• No exposure to Cyprus and other problem European assets
Due from banks 1.0%
Amounts under reverse repo 1.8%
Fixed and other assets 6.4%
Cash & cash equivalents
7.9%
Securities portfolio 16.7%
Loans and advances to customers
66.2%
Other 0.7%
Capital markets 7.5%
Shareholders’ equity 11.8%
Due to banks 12.3%
Customer accounts (individuals) 30.0% Customer accounts (corporates) 37.7%
Trading shares 0.05%
Trading bonds 31.9%
Trading bonds pledged under sale
and repurchase agreements
68.1%
Corporate shares 0.05%
Corporate Eurobonds 14.0%
Corporate bonds 77.0%
Municipal bonds 7.2%
Federal loan bonds (OFZ) 1.7%
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• Dividend payment (RUB 867 mln) will affect Tier 1 and total CAR in 1H 2013
• Rights issue approved by AGM and supported by major shareholders
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370.8
218.6
276.8
338.1 354.5
Dividends
AGM made the decision on payment of dividends for 2012: • ordinary shares: RUB 0.11 • preferred shares: RUB 0.11 • type A preferred shares: RUB 12.76 Total sum of dividends: RUB 867,382,443 Two new independent Supervisory Board members were elected:
• Marlen Manasov (Board member at Sovkomflot, previously Board member at RTS, UBS Bank) • Zakhar Smushkin (Chairman of Board at Ilim Group)
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Conversion of Type A preferred shares
May 15, 2013 – type A preferred shares were converted into ordinary stock Shareholders equity structure after the conversion
Rights issue
110 mln ordinary shares 3Q 2013 – rights issue supported by major shareholders (up to USD 100 mln) Both ordinary stock and Type A preferred stock will have pre-emptive rights