4. Over 20 years of successful development
Establishment
and banking
license
9 new regional
branches
opened
34 branches
in the Moscow
Oblast
Cash collection
and delivery
services
established
Joined the
World Bank
development
program
Cooperation
with CIBC
S&P rating
Corr. accounts
with western
banks
1991-1992
License for
foreign
exchange
1993-1995
Associate
member of VISA
International
Authorized Bank
of the Russian
Government
Joined S.W.I.F.T.
Rated by the
Central Bank
as a stable
bank after
the financial
Crisis
CIBC
becomes a
shareholder
1996-1998 1999-2002
Bank’s ADRs
traded on the
Frankfurt
Stock
Exchange
Established
ATM network
and a
processing
center
The 3rd
largest
branch
network
Top 3 in the
State
Mortgage
Program
Top 10 by
deposits
from
individuals
Top 7
mortgage
provider
2003-2004
Top 20 by
corporate
loan portfolio
17th equity
issue raises
$33 million
Widest ATM
network in
the Moscow
Oblast
Joined
Deposit
Insurance
Program
Over 100,000
VISA cards
issued
Best
mid-cap
Russian
bank (Big
Money)
$ 177 mln
raised by
20th issue
3rd by
lending to
SME
$81 mln
EBRD
financing
Top 10 by
bank cards
issued
2009-2010
2005-2006
2007-2008
Overall
rebranding
Top 500
world’s
banking
brands
Bank of the
Year in Russia
in 2010 (The
Banker)
Best bank IR
and best IR
professional
(Thomson
Reuters )
Over 1,550,000
clients
CRM system
development
The most
transparent
bank in
Russia (S&P)
Best public
company
(Secret Firmy
Magazine)
Best SME
bank in
Moscow
Oblast
Best Corporate
Governance,
Russia (World
Finance)
Top 10 retail
banks in
Russia
Best IR
Management
in Russia
(Global
Banking &
Finance
review)
First MBS
deal on Rub
4,1 bln
2011-2012
2013
Alexander
Dolgopolov
appointed
as the
Chairman of
the
Management
Board
V.Bank
launched
project on
cost
efficiency
4
5. Bank Vozrozhdenie - a Community Bank built on strong relationships
with SMEs and individual customers
Bank Vozrozhdenie
strategy…
Focus On Core Banking Products
Servicing Corporate and SME Customers On Each Stage
Of Business Development
Servicing retail customers throughout their whole life-cycle
Balanced Lending and Funding policy
Prudent risk-management policy
Increasing efficiency in service delivery
…service…
… 1 700 000 Retail Clients…
… 63 400 Corporate and SME Clients…
…via…
… 21 Region
… 142 Offices
… 854 ATMs
… 6 173 employees
5
6. Distribution network
As of 01.10.2013
Moscow Oblast is a home territory with
historically strong market position
Branches
34
Sub branches
42
Retail offices
9
Total
85
531 ATMs – every town is under coverage
21 region of presence.
Focus on the most attractive
South and North-West
Branches
Sub branches
19
36
Retail offices
2
Total
57
323 ATMs
6
7. Basic information & position in Russian banking system
Key Figures, RUB
Rankings*
216,168 mln
Loans b.p.
Net Assets
28
Loans to SMEs
Assets
6
Volume of retail deposits
17
Mortgages
9
Corporate loans
21
Bank cards issued
13
Branches/ATMs
38/19
166,937 mln
Customer Funds
169,310 mln
Net Income for 1H13
521 mln
Shareholders equity
21,351 mln
Retail Clients
1,700,000
Corporate Clients
Personnel
63,400
6,173
Offices
142
ATMs
854
* RBC most recent rankings
7
8. Market recognition
Credit ratings
Listing
Moody’s
Ba3/D-/NP, stable
Included in indices
Standard&Poor’s
BB-/ruAA-, stable
MICEX Financial Index
Listing
A1 MICEX
High recognition of brand
Moody's
S&P
Aaa
25
Aa
22
Moody's Interfax Aa3.ru
19
A
S&P national scale
ruAA-
Baa
16
Ba
13
B
10
Caa
7
Moody's Ba3
S&P international
45
40
AAA World Finance
V.Bank was awarded for “Best Corporate
35
AA Governance, Russia”, according to World Finance
30
A survey
25
BBB The Banker
20
V.Bank – “The Bank of the year 2010 in Russia”
15
BB as per the survey of The Banker magazine
10
BB5 B
01.01.06 01.01.07 01.01.08 01.01.09 01.01.10 01.01.11 01.01.12 01.01.13
CCC
0
BrandFinance Banking 500 survey
V.bank ranks among top-10 Russian most valuable
banking brands with brand value of $190 million
8
10. Market strategy
Balanced Credit and
Resource policies
Personal bank for
corporate and retail customers
Focus on core banking
products
Corporate clients
Retail customers
Servicing on each stage of business
development
Servicing throughout their whole life-cycle
Customer acquisition
Strong recognition in local
communities
High level of customer
recommendations
Payrolls enhance cross-sales
between retail and corporate
segments
Cooperation with developers
under partnership mortgage
programmes
10
11. Business model
Business based on relationships…
… gives solid non-interest income
Non-interest income
RUB bln
- Customer oriented organic growth
3 773
- Conservative balance sheet
3 875
3 743
Net interest income
3 490
3 667
38%
39%
40%
42%
36%
60%
58%
64%
62%
61%
Q2'12
Q3'12
Q4'12
Q1'13
Q2'13
- Primarily deposit funded
- Focused regional structure
- Increasing efficiency in service delivery
Loan portfolio development…
RUB bln
152
28
124
Q2'12
RUB bln
Note: all loans are gross loans
Retail loans
Corporate loans
151
… funded by customer accounts
156
164
Interest-bearing Deposits
Interest-free Current accounts
167
169
164
163
91
98
Q3'12
Q4'12
131
Q1'13
37
57
53
56
33%
130
67%
Q2'13
151
48
101
33
152
51
31
34
103
107
110
113
Q2'12
Q3'12
Q4'12
Q1'13
Q2'13
22%
78%
11
13. Who are our SMEs?
What is our SME Definitions
Segment
Large business
Medium-size and small businesses
Micro businesses
Total credit exposure, RUB mln
> 750
30 - 750
6 - 30
Food processing – factories manufacturing different types of
high-quality food and beverages.
Local retailer chains – small chains of handy stores “Close-toHouse” style for daily shopping located in dormitory area with
high density of population.
Car stores – range of car parts and accessories, new and used
economy class cars most popular in the regions, where people
give strong preference to repairing their engines themselves.
Clothes factories – small-scale production of clothing and
apparel.
13
14. Corporate business
…with 63% of loans less than RUB 0.75 bln
issued to 98% of clients
Corporate lending – focus on SMEs…
SME
Large corporates
2
1
45
1
46
2
41
RUB bln
Administrations
51
* as of June 30, 2013
75%
80%
Share of portfolio
Share of clients
70%
60%
50%
83
77
77
2.6 – outgrew
SME bracket and
moved to large
corps
Q4 2012
Q1 2013
20%
10%
12%
9%
Q2 2013
Current Accounts
+2,2%
60
RUB bln
62
30-100 mln
up to 30 mln
100-750 mln
more than 750 mln
FX Corporate
64,3
65,0
61,8
63,8
4,3
4,3
59,7
57,5
59,5
01.08.13
01.09.13
01.10.13
5,0
35
36
24
25
26
26
26
Q2'12
Q3'12
Q4'12
Q1'13
Q2'13
4,4
4,6
61,0
30
* under RAS
RUR Corporate
66,0
55
36
32
10%
…mostly nominated in RUB
62
56
13%
2%
0%
Corporate funding...
Term Deposits
37%
30%
78
+8.8 new loans
-11.4 repayment
Q3 2012
42%
40%
60,6
01.06.13
01.07.13
6.7%
58%
42%
14
15. Conservative risk profile
Credit policy sticks to reliable collateral…
….providing mostly working capital…
*as of June 30, 2013
RUB bln
Loan amount
Collateral value
*as of June 30, 2013
Average LTV:
55%*
112
Corporate portfolio
71%
30,1%
24,4%
56
56
54
16,9%
13,5%
29
14
3
4
Real
Estate
Government
guarantees
Equipment
& Vehicle
Guarantees
*Guarantees are not taken into account
12
Other
collateral&
blank
3,2%
up to 30 days
31-90
days
Transport
Agriculture
Construction
*as of June 30, 2013
Other
1 - 2 years
> 2 years
South regions
24%
4%
7%
Manufacturing
RUB
130.2 bln
13%
37%
39%
28%
11%
Other regions
Moscow Oblast
1%
North-West regions
RUB
130.2 bln
2%
Wholesale &
retail trade
181 - 365
days
*as of June 30, 2013
8% 4%
9%
91-180
days
… and regional diversification
…maintaining industry…
Real estate
11,9%
27
14%
Administrations
Moscow
15
16. Retail lending – promising segment
Retail loan book growth (IFRS)
Mortgages
Consumer and car loans
Retail loans maturity
RUB bln
Credit cards
2,1
2,1
8,4
20,8
Q3'12
2,1
2,1
8,5
8,7
22,8
22,3
Q4'12
Q1'13
Enhanced
cross-selling to
existing clients
9,8
Introduction of
new mortgage
programme in
March’13
*as of June 30, 2013
Primarily mortgages under state-related
agency JSC “AHML” standards
Retail portfolio
High-margin consumer loans to
customers with apparent cash-flow
–management of corporate clients
84,2%
24,9
11,9%
1,0%
Q2'13
2,9%
up to 90 days
91-365 days
Mortgage securitization as a source of long-term
funding for loan portfolio expansion
Securitization 1
> 2 years
Rates on retail loans
Securitization 2
Rub 4.1 billion in
December 2011
1 - 2 years
Rub 4.0 billion in
April 2013
Consumer loans, RUB
Mortgages, RUB
25
Credit cards, RUB
20
15
Class A with 8.95%
coupon rate and Baa2
rating from Moody’s
Class A with 8.95%
coupon rate and Baa3
rating from Moody’s
We plan to continue expanding retail loan portfolio, that was
an important lending growth driver during recent years
10
Particular focus is on mortgages as the most perspective
segment with gradual widening of consumer lending
5
01.07.10
01.01.11
01.07.11
01.01.12
01.07.12
01.01.13
01.07.13
16
17. Card business – sales force of retail business
Business strategy…
…generates strong fee income
*as of June 30, 2013
Corporate
clients
Retail
clients
Interest
3%
14%
22%
18%
- Self-service
transactions via
ATMs, Internet-bank,
mobile bank
- Credit cards
- Payrolls
- Acquiring
…developing anchor card product - payrolls
Q3 2012
Q4 2012
Q1 2013
Q2 2013
13,500
14,000
14,200
14,200
1,360,845
1,381,959
1,360,308
1,331,515
Credit
cards
45,471
46,646
48,297
50,470
ATMs
812
819
838
844
Payrolls
Debit cards
70%
82%
22%
acquiring
cash operations
Visa and Mastercard
self-service
39%
Fees &
commissions
payrolls
1
Key points
- Payrolls is one of the key tools for retail client base
growth with strong potential – 63,400 of existing
corporate clients with 17,000 installed “Internet-client”
systems and only 14,200 payrolls
- Offering cards to existing corporate clients: credit cards
for owners, top and mid-level managers and specialists,
debit cards for personnel
- Pushing cross-sales within retail customer segment
17
19. Sound position on capital, liquidity and market risks
Balance sheet structure
Capital position enhanced by subordination
Tier 1
Tier 1 + Tier 2
14,2%
RUB bln
14,8%
14,9%
14,6%
13,2%
12,1%
11,6%
Assets
*as of June 30, 2013
Liabilities
80
70
12,3%
11,9%
11,8%
11,7%
60
50
11.0%
MIN
40
30
20
10
0
Q2 2012
Q3 2012
Q4 2012
Q1 2013
Q2 2013
01.09.2013
Demand and less
than 1 month
CAR (N1)
under CBR rules
From 1 to 6
months
FX structure
Assets
From 6 to 12
months
More than 1 year
Interest rate risk
*as of June 30, 2013
Liabilities
RUB bln
*as of June 30, 2013
80
Interest-earning assets
Interest-bearing liabilities
70
60
16
82%
18%
5
81%
19%
30
50
40
30
17
Loans
Due from banks&Securities
Cash&Other assets
4
2
Deposits
Due to banks&Securities
Other liabilities
20
10
0
Demand and less
than 1 month
From 1 to 6
months
From 6 to 12
months
More than 1 year
19
20. Credit quality management
NPLs dynamics
Annualized cost of risk
NPLs, RUB*mln
Provisions, % of total portfolio
NPLs, % of total portfolio
9,40%
9,52%
9,09%
Charges to provisions to avg gross loans, QoQ
Charges to provisions to avg gross loans, YtD
10,35%
10,28%
10,13%
9,54%
9,41%
3,12%
2,86%
9,02%
2,46%
2,24%
8,08%
1,83%
1,65%
12 297
14 251
14 102
16 879
Q3 2012
Q4 2012
Q1 2013
Q2 2013
1,17%
17 270
Q2 2012
2,79%
2,46%
2,06%
Q2 2012
Q3 2012
Q4 2012
Q1 2013
Q2 2013
* NPL includes the whole principal of loans at least one day overdue either on
principal or interest as well as not overdue loans with signs of impairment
NPLs dynamic in different segments: Q2’13 stable with some FX revaluation
SMEs
Large corporates
+ Rub 344 mln new NPLs
- Rub 177 mln recoveries
Retail
+ Rub 131 mln new NPLs
no recoveries
+ Rub 207 mln new NPLs
- Rub 114 mln recoveries
17,6%
16,2%
13,2%
10,4%
10,5%
10,5%
9,8%
10,6%
12,2%
10,0%
9,9%
9,8%
9,2%
10,0%
8 120
7 841
7 765
7 772
7 939
Q2 2012
Q3 2012
Q4 2012
Q1 2013
Q2 2013
12,2%
10,1%
13,3%
14,1%
11,9%
3,6%
3,5%
3,5%
2,7%
3,1%
2,7%
777
965
892
8,0%
3 400
5 445
5 445
8 098
8 229
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
NPLs, RUB mln
Provisions, % of total portfolio
3,6%
3,7%
3,0%
3,0%
1 009
1 102
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
NPLs, % of total portfolio
20
15
21. Credit quality summary
as of 30.06.2013
Gross loans, including
Current loans
Large
corporates
SMEs
50,801
83.8%
Past-due but not impaired, of
them
RUB mln
Mortgages
79,364
90.0%
Other
retail
24,867
98.1%
11,905
94.6%
Total
166,937
89.7%
Provisions
to NPLs
Ratio
98%
-
0.1%
1.2%
1.3%
0.3%
Less than 90 days
-
0.1%
0.4%
1.2%
0.2%
Over 90 days
-
0.8%
0.1%
0.1%
0.7%
4.0%
10.0%
Provisions
to 90 days+
NPLs
0.4%
1.9%
123%
Impaired, of them
-
16.2%
9.9%
Less than 90 days
5.5%
0.5%
Over 90 days
10.7%
9.4%
0.7%
3.6%
8.1%
16.2%
10.0%
1.9%
5.3%
10.3%
-14.1%
-10.6%
-2.9%
-5.2%
Total NPLs
Provisions
Net Loans
43,617
70,975
-
24,139
11,288
-10.1% Rescheduled
Loans
150,019
5.1%
the whole amount of loans with principal overdue for more than 1 day as
NPL - well as loans with any delay in interest payments.
21
22. How we address credit quality challenges
Key challenges
•
Our response
Large corporates proved to be the segment with
the
highest
risk-profile,
requiring
heavy
provisioning during recent quarters
Q3 2012
Q4 2012
-32 -67
-67
-337
Q1 2013
-101 -66
Q2 2013
-90 -125
-352
• To reduce concentration the cap for credit exposure
to any new single borrower was cut from 15% to 10%
of equity, on a group of borrowers – from 25% to 15%
• Exposure to Top-20 Largest groups of borrowers
shall not exceed 210% of Capital
• The bank established a new division to centralize
work with collateral with the following objectives:
- Review and appraisal of collaterized property
- Expertise of third-party appraisal
- Regular monitoring of collateral portfolio
-679
Stage 1 (August 2013)
-818
-1 075
Charges on large corps
Charges on SMEs
Primary expertise for borrowers with
exposure above Rub 150 mln
Monitoring of collateral on Top-20
borrowers
Charges on retail
Stage 2 (October 2013)
•
Workout of bad loans could take several years
including all the legal issues, overtake and sale of
collateral. Adequate appraisal and liquidity of
collateralized property become
crucial
to
smoothen the procedure
Primary expertise for borrowers with
exposure above Rub 100 mln
Monitoring of collateral on borrowers
with exposure above Rub 150 mln
Stage 3 (January 2014)
Primary expertise and monitoring of collateral for borrowers with exposure above
Rub 100 mln
22
24. Financial highlights
RUB mln
Q2’13
Q1’13
Q-o-Q
1H13
1H12
Y-o-Y
Net Interest Income
2,237
2,180
2.6%
4,417
4,411
0.1%
Net fee and commission income
1,215
1,107
9.8%
2,322
2,417
-3.9%
155
143
8.4%
298
178
67.4%
3,667
3,490
5.1%
7,157
7,175
-0.3%
Operating expenses
(2,135)
(2,091)
2.1%
(4,226)
(4,180)
1.1%
Charges to provisions including
(1,309)
(964)
35.8%
(2,273)
(1,502)
51.3%
- provisions for loan impairment
(1,290)
(985)
31.0%
(2,275)
(1,188)
91.5%
- provisions for impairment of
other assets
(19)
21
-
2
(314)
-
Net profit
188
333
-43.5%
521
1,204
-56.7%
Trading Income
Total operating income b.p.
24
25. NIM stabilized due to interest income growth
Net interest income improvement
Deposit costs raised on the back of gradual repricing
Interest Income
Interest Expenses
2 262
Corporate term deposits
Yields on corporate loans
2 253
2 394
2 180
Retail term deposits
Yields on retail loans
2 237
14,9%
4 263
4 461
4 451
4 646
15,4%
14,9%
14,7%
10,8%
10,9%
11,3%
10,6%
10,9%
7,2%
4 118
14,9%
7,6%
6,7%
7,4%
7,7%
6,4%
6,4%
6,5%
Q4 2012
Q1 2013
Q2 2013
6,1%
-1 856
-2 010
-2 067
-2 271
-2 409
5,8%
Q2 2012
Q3 2012
Q4 2012
Q1 2013
Q2 2013
Q2 2012
Q3 2012
NIM decomposition
Spread dynamics
Interest Spread
Yield on earning assets (net)
Cost of funds
11,2%
11,4%
11,7%
6,7%
6,7%
7,1%
4,4%
4,7%
Q2 2012
Q3 2012
11,2%
4,9%
5,0%
Q4 2012
Q1 2013
Q2 2013
Deposits
Other
-0,05%
-0,19%
Base effect
-0,07%
6,5%
4,6%
+0,35%
11,5%
6,3%
Loans
4,8%
4,6%
4,7%
4,2%
Q2 2012
Q3 2012
Q4 2012
4,2%
Q1 2013
Q2 2013
25
26. Fees and commissions in focus
Fee income rebound
New developments in remote banking
RUB mln
1 291
125
Payrolls
314
1 320
123
326
+9.8%
136
1 107
355
Options to be introduced in 2013:
1 215
105
322
Settlements
373
375
376
• Adding new types of documents
316
304
384
397
415
317
Other rev.
97
58% of active clients use remote banking.
73% of them used more convenient and safe
Internet bank as of July 2013, up from 42% in the
YE2012.
352
1 324
Cards
Cash
transactions
• Deposit opening
• More flexibility in managing operations
422
191
203
192
174
178
Cards
-79
Other exp. -17
-85
-19
-100
-93
-110
-50
-22
-40
Q3 2012
Q4 2012
Q1 2013
Q2 2013
Q2 2012
Corporate business:
Low-cost fee generating products deliver 32% of total
operating income adding stability to revenue base
Retail and bank card business synergy:
“Vbank with you” Internet/mobile bank for retail
clients with new functions coming in H2 2013 –
H1 2014:
• Deposit management
• Payments to any recipient via Internet
• New partnership agreements
• Remote sales – tailored decisions for clients
26
27. Cost optimization
Strict control over operating expenses
RUB mln
2 421
2 138
2 091
2 051
Personnel expenses – main burden on C-I-R
2 135
H1’13
4% 7%
6%
4%
5%
3% RUB 4.2 bln
8%
Q2'12
Q3'12
Q4'12
Q1'13
62%
Q2'13
Operating structure optimization pilots of H1’13
• Centralization of Internet-Bank client support
service
Release of IT and Security administrators from unusual
excessive functions
• Uniting cashier and teller functions
Speed up of processing client applications
• Automation of Internet-Client payments processing
1 manager can process same number of payments like
2 managers before the pilot introduction
• FRAUD-analysis and payment controller function for
pilot branch moved to HQ
• New road map for retail offices
Staff costs
*as of June 30, 2013
Administrative expenses
Taxes other than income tax
Contributions to the State Deposit
Insurance Agency
Depreciation of premises, equipment and
amortisation of intangible assets
Other costs relating to premises,
equipment and intelligible assets
Rent
Other
Pilots on centralization to be implemented
within next 12M
• HR documentation handling
• Security Administrators function
• Accounts opening
• Establishing IT Help Desk/Service Desk
• Fixed cash collection routs planning
• Credit middle and back office
• Work with orders and requests of Federal Bailiffs
Service and Federal Tax Service
• FX control
• Handling payroll services
27
30. Capital structure
Share price on MICEX
Shareholding structure:
Structure as of 13.05.2013
Shares
Roubles
100 000
Chairman
31%
41%
Other
management
More than 8,000
individuals and 1,000
companies are among
our shareholders with
professional investors
owning more than 36%
1 800
10 000
1 440
1 000
1 080
720
10
28%
100
360
0
1
1.10.12
1.12.12
1.2.13
1.4.13
Volume
1.6.13
1.8.13
1.10.13
Last price
As per MICEX data
Volumes of trading (shares)
Major shareholders
SHAREHOLDER
STAKE IN EQUITY
Dmitry L. Orlov (Chairman of the Board of Directors)
30.70%
18.65%
H1 2012
H2 2012
H1 2013
H2 2013
Moscow Exchange
974,600
2,017,159
565,361
607,579
316,065
OTC
Otar L. Margania (Member of the Board of Directors)
H2 2011
2,141,597
873,225
1,421,277
100,610
65,341
Total
3,119,452
2,894,069
1,993,938
712,089
381,406
*Volume growth associated with strategic deals
JPM International Consumer Holding Inc.
Total
9.37%
58.72%
2Q 2013 Price to
Book Value
(P/BV)
0.5
2Q 2013 Price to
Earnings
(P/E)
13.1
30
31. High standards of corporate governance
MANAGEMENT STRUCTURE
System of control
GENERAL
MEETING OF
SHAREHOLDERS
AUDITOR
PricewaterhouseCoopers
Audit commission
BOARD OF DIRECTORS
12 members
9 are non-executive
6 independent
HR and Compensation
Committee
- Timely information provision to
investors
- Full disclosure on web-site
- Quarterly IFRS financial reporting
with web-cast presentations
- Financial reports under IFRS
audited from 1991
- Solid and professional team
V.Bank has
the Best
Corporate
Governance in
Russia, 2013
CHAIRMAN OF THE
MANAGEMENT BOARD
Audit committee
Internal Control
and Audit Service
Risk Management
Mr. Alexander Dolgopolov
MANAGEMENT BOARD
11 members
4 Deputy Chairmen
Andrey
Shalimov
was
awarded for
the Best IR
in 2012
The arrows represent the authorities to appoint or elect
the relevant Bank’s bodies and the External Auditor
Continuing excellent reputation recognition:
V.Bank was
awarded as
the Bank of the
Year in Russia
in 2010
Dmitry Orlov is included
in top10 of the best bank’s
managers 2009
The most
shareholder
transparent bank
in Russia – 2006,
2007, 2008
31
32. Investment Summary
SOUND STRATEGY
BUSINESS STRENGTHS
Over 20 years in Top-30 Russian banks amid
changing competitive landscape
Loyal clientele due to strong relationships with the
customers
Successfully passed through all crises (1993-94,1998,
2004, 2008)
60% of client base is concentrated in perspective
Moscow Oblast
Business model generating solid fees & commissions
(40% of revenue)
Corporate business focused on high-profitable
SME, retail – on mortgages with growing consumer
lending share
Organic growth in core regions and client segments
Focus on operating efficiency
One of the most transparent FI in Russia – Best
Corporate Governance by World Finance in 2013,
leaders of Information Transparency to Shareholders
by S&P in 2008, 2007, 2006
Management Board (11 members) with long-term
banking experience; the Board of Directors headed by
Chairman with 40 years in Soviet and Russian
banking systems
Positive track-record of communication with investors
HIGH STANDARDS
Broad product line based on advanced IT-solutions
and remote banking services
Russian economy slowdown
Ongoing pressure on lending rates driven by state banks
Still high potential credit risk
Limited demand from key client sector – SME
Financial markets turbulence
Still high potential credit risk
Competitive landscape for Russian banks
Operating model optimization project realization
CURRENT CHALLENGES
32
33. Investor Relations contacts
Yulia Vinogradova, Advisor to the Chairman
Yu.Vinogradova@voz.ru
Elena Mironova, Deputy head of IR
E.Mironova@voz.ru
Maria Gorbunova, IR specialist
M.Gorbunova@voz.ru
Download contacts:
+7 495 620 90 71
investor@voz.ru
http://www.vbank.ru/en/investors
Follow us on Twitter:
www.twitter.com/vbank_IR
Download presentation:
33
34. Disclaimer
Some of the information in this presentation may contain projections or other forward-looking statements regarding future events or the future financial
performance of Bank Vozrozhdenie (the Bank). Such forward-looking statements are based on numerous assumptions regarding the Bank’s present and
future business strategies and the environment in which the Bank will operate in the future.
The Bank cautions you that these statements are not guarantees of future performance and involve risks, uncertainties and other important factors that we
cannot predict with certainty. Accordingly, our actual outcomes and results may differ materially from what we have expressed or forecasted in the
forward-looking statements. These forward-looking statements speak only as at the date of this presentation and are subject to change without notice. We
do not intend to update these statements to make them conform with actual results.
The Bank is not responsible for statements and forward-looking statements including the following information:
- assessment of the Bank’s future operating and financial results as well as forecasts of the present value of future cash flows and related factors;
- economic outlook and industry trends;
- the Bank’s anticipated capital expenditures and plans relating to expansion of the Bank’s network and development of the new services;
- the Bank’s expectations as to its position on the financial market and plans on development of the market segments within which the Bank operates;
- the Bank’s expectations as to regulatory changes and assessment of impact of regulatory initiatives on the Bank’s activity.
Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from those
expressed or implied by these forward-looking statements. These risks, uncertainties and other factors include:
- risks relating to changes in political, economic and social conditions in Russia as well as changes in global economic conditions;
- risks related to Russian legislation, regulation and taxation;
- risks relating to the Bank’s activity, including the achievement of the anticipated results, levels of profitability and growth, ability to create and meet
demand for the Bank’s services including their promotion, and the ability of the Bank to remain competitive.
Many of these factors are beyond the Bank’s ability to control and predict. Given these and other uncertainties the Bank cautions not to place undue
reliance on any of the forward-looking statements contained herein or otherwise.
The Bank does not undertake any obligations to release publicly any revisions to these forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable laws.
34
