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Bank Saint Petersburg 9M2013 IFRS Results
All information for the investors is available on the Bank’s web site: https://www.bspb.ru/en/investors/
Contact information:
E-mail: ir@bspb.ru
Phone: +7 812 332 78 36

2
 Healthy loan book growth 15% YTD
 incl. retail loan portfolio (mortgage, car and consumer loans)
growth 61% YTD
 Record revenues* for 3Q RUB 4.5 bn 13% y-o-y
 Robust trading income
 USD 200 mln of new capital raised
 IFRS treatment of Investment securities available-for-sale disposal
results in a one-off RUB 586 mln income increase with no impact
on equity

•

* Revenues calculation: net gains from investment securities available-for-sale are excluded from revenues as one-off

3
In RUB bn

Jan. 1, 2013

Oct. 1, 2013

YTD

Oct. 1, 2012

Jul. 1, 2013

Oct. 1, 2013

Total assets

351.37

403.36

+14.80%

317.24

374.25

403.36

+7.78% +27.15%

Gross Loans

246.50

283.98

+15.20%

246.89

269.18

283.98

+5.50%

+15.02%

Customer Deposits*

228.04

262.37

+15.05%

224.71

248.61

262.37

+5.53%

+16.76%

Total Capital

48.89

53.93

+10.32%

46.21

51.62

53.93

+4.48% +16.71%

9M 2012

9M 2013

3Q 2012

2Q 2013

3Q 2013

q-o-q

y-o-y

Net Interest Income

8.88

9.55

+7.58%

2.92

3.16

3.40

+7.69%

+16.64%

Net Fee and
Commission Income

1.64

1.88

+14.16%

0.61

0.63

0.65

+3.18%

+7.01%

Revenues**

11.08

12.72

+14.83%

4.00

4.08

4.51

+10.35% +12.61%

Net Income

0.93

3.62

+288.69%

0.69

0.92

1.61

+74.69% +132.74%

9M 2012

9M 2013

3Q 2012

2Q 2013

3Q 2013

Net Interest Margin

3.91%

3.74%

-0.17 PP

3.75%

3.76%

3.73%

-0.03 PP -0.02 PP

Cost/Income Ratio

46.47%

40.72%

-5.75 PP

43.50%

44.18%

38.65%

-5.53 PP -4.85 PP

ROAE

3.10%

11.20%

+8.10 PP

6.92%

8.97%

14.64%

+5.67 PP +7.72 PP

•
•

q-o-q

q-o-q

* Customer deposits are calculated as a sum of customer accounts and promissory notes (other debt securities in issue)
** Revenues calculation: net gains from investment securities available-for-sale are excluded from revenues as one-off

y-o-y

y-o-y

4
•
•

* Provisions for FY 2012 reduced by the gain from disposal of investment property;
Revenues calculation: net gains from investment securities available-for-sale are excluded from revenues as one-off

5
4281

5166

5419

• Upward trend in Net interest income despite
pressure on margin
• Trading income contributes to strong revenues
• 5% costs growth y-o-y

* Property tax is excluded from other administrative and operating expenses and included in expenses related to premises and equipment.

6
* Provisions for 3Q 2012 reduced by the gain from disposal of investment property;
Revenues calculation: net gains from investment securities available-for-sale are excluded from revenues as one-off

7
• Record revenues
• Healthy trading income for five quarters in a row
• NIM flat
• One-off gain from the sale of the Moscow Exchange

shares in the amount of RUB 586 mln contributes to
strong net income with no impact on equity

* Property tax is excluded from other administrative and operating expenses and included in expenses related to premises and equipment.

8
Average interest rate

Average balance

Contribution to NIM change:

Contribution to NIM change:

Due from banks

-5 bp

Corresponded accounts with other banks

-8 bp

Amounts receivable under reverse repo

-3 bp

Loans and advances to customers

+24 bp

Amounts receivable under reverse repo

+4 bp

Due to banks

+6 bp

Due to banks

-23 bp

Retail term deposits

+5 bp

Retail term deposits

-12 bp

Corporate term deposits

+4 bp

Corporate term deposits

+9 bp

Other debt securities issued

-3 bp

Total

+7 bp

Total

-9 bp
Other factors: -1 bp

9
• Loans/Deposits Ratio close to targeted 100%

* Average assets: loans, due from banks, securities portfolio, correspondent accounts
** Average liabilities: due to banks, customer accounts including current accounts, debt securities in issue

10


Retail loans 89% growth y-o-y, 15% growth q-o-q*



Large customer base: over 1.3 mln retail customers



Number of cards issued – 781,600

Consumer loans:


Impressive growth on the basis of the Bank's own customer
base providing a low risk profile

Internet banking:


Successful internet bank platform – 231,160 users



Top-3 Internet-Bank in Russia (Internet Banking Rank 2013
by Markswebb Rank & Report)

Mortgages:




•

BSPB ranked 3d among all banks and 1st among
the privately-owned banks in St. Petersburg mortgage
lending market
BSPB share in new mortgage lending in St.Petersburg
during 9M 2013 – 19%

* Retail loans include mortgages, car and consumer loans

11
284 bn

Loans granted
in 2011-2013

69%

197 bn

284 bn

standard
157 bn

Corporate
168 bn

11 bn
Retail 29 bn
Loans granted
before 2011

31%

87 bn

impaired
not past due1%
overdue 2%

standard 20%
57 bn

Corporate
81 bn
Retail 6 bn

55%

24 bn

impaired
not past due 5%
overdue 4%

• In 2011-2013 loan portfolio considerably renewed (69% new loans)
• Major part of problem loans (RUB 24 bn) relate to “old” loan
portfolio
• Smaller tickets growth continues

12
• Gross loan portfolio growth in 9M 2013 of 15.2%
• Cost-of-Risk in line with the guidance and going down
• Overdue Loans: Corporate – 6.8%; Retail – 3.5%
• RUB 1.0 bn of the loan portfolio written off in 9M 2013
• Technical shift between two categories of loans with
no impact on provision charge (several formerly fully
provisioned loans turned into “overdue” category)

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
Overdue loans and impaired not past due loans include the whole principle of loan at least one day overdue or impaired

13
Due from banks 0.5%
Amounts under
reverse repo 3.7%
Fixed and other assets
6.4%

Trading shares
0.06%
Trading bonds
13.7%

Corporate shares 0.06%
Corporate Eurobonds 4.6%

Other 0.7%
Capital markets
6.2%

Cash 11.3%

Shareholders’
equity
11.4%

Securities portfolio
14.3%

Trading bonds pledged
under sale and
repurchase agreements
86.2%

Due to banks
16.6%

Customer accounts
(individuals)
29.8%

Corporate bonds 83.9%

Municipal bonds 8.8%
Federal loan bonds (OFZ) 2.6%

Loans and advances
to customers
63.8%

Customer accounts
(corporates)
35.2%

• Conservative approach to risk: approximately 95% of the debt
securities belong to the CBR Lombard list

• Average duration of the securities portfolio is 1.4 years
• Approximately 80% of assets and liabilities represented in RUB

* Trading securities portfolio includes trading securities and trading securities pledged under sale and repurchase agreements

14
•

414,8
338.1
276.8
218.6

354.5

In October 2013, Bank placed 5.5-year USD 100 mln
subordinated eurobonds, which expected to
contribute 0.8 PP to Total CAR

•

Capital adequacy ratio (N1) as at 1 October 2013 was
12.2 per cent, in full compliance with CBR
requirement of 10% minimum

15
New strategy 2014-2017
The principal strategic goal for 2014-2017 is to build an efficient bank with a scaleable business model

E-banking: growing
importance of remote selfservice banking channels

Higher loan portfolio
profitability with due
account for the cost of risk
Increasing non-interest income
and the share of demand deposits

Operating efficiency

Distribution network
transformation

RoE ≥
15%

Standardization of
internal reports for better
workflow management

Developing
process management
competencies for mass sales
of standard products.
Standardisation, optimisation
and automation of processes
in the mass segments

Moderate growth appetite

Moderate risk appetite

Efficiency

Scaleability
 ROAE 15%+

 Loan portfolio growth 10-11% p.a.

 Cost of Risk 130bp

 Retail loans growth 30% p.a.

 NIM 4%+

 Share of loans to individuals in gross loans 20% in 2017

 Cost-to-Income ratio 40%

 Tier 1 capital adequacy ratio 10%+

* New Strategy 2014-2017 was approved by the Supervisory Board on November 26, 2013

16
 Loan portfolio growth 15-16%

 ROAE 10%

 Retail loans growth ca. 70%

 Cost of Risk 160-170 bp

 Share of loans to individuals in the loan book 13%

 NIM 3,7-3,8%
 Costs growth 6-7%
 Cost-to-Income ratio 40%

 Loan portfolio growth 12%

 ROAE 12-15%

 Retail loans growth 30%

 Cost of Risk 150-160 bp

 Share of loans to individuals in the loan book 14%

 NIM 4%

 Costs growth 10%
 Cost-to-Income ratio 40%

17
18

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Bank Saint Petersburg 9M2013 IFRS Results

  • 2. All information for the investors is available on the Bank’s web site: https://www.bspb.ru/en/investors/ Contact information: E-mail: ir@bspb.ru Phone: +7 812 332 78 36 2
  • 3.  Healthy loan book growth 15% YTD  incl. retail loan portfolio (mortgage, car and consumer loans) growth 61% YTD  Record revenues* for 3Q RUB 4.5 bn 13% y-o-y  Robust trading income  USD 200 mln of new capital raised  IFRS treatment of Investment securities available-for-sale disposal results in a one-off RUB 586 mln income increase with no impact on equity • * Revenues calculation: net gains from investment securities available-for-sale are excluded from revenues as one-off 3
  • 4. In RUB bn Jan. 1, 2013 Oct. 1, 2013 YTD Oct. 1, 2012 Jul. 1, 2013 Oct. 1, 2013 Total assets 351.37 403.36 +14.80% 317.24 374.25 403.36 +7.78% +27.15% Gross Loans 246.50 283.98 +15.20% 246.89 269.18 283.98 +5.50% +15.02% Customer Deposits* 228.04 262.37 +15.05% 224.71 248.61 262.37 +5.53% +16.76% Total Capital 48.89 53.93 +10.32% 46.21 51.62 53.93 +4.48% +16.71% 9M 2012 9M 2013 3Q 2012 2Q 2013 3Q 2013 q-o-q y-o-y Net Interest Income 8.88 9.55 +7.58% 2.92 3.16 3.40 +7.69% +16.64% Net Fee and Commission Income 1.64 1.88 +14.16% 0.61 0.63 0.65 +3.18% +7.01% Revenues** 11.08 12.72 +14.83% 4.00 4.08 4.51 +10.35% +12.61% Net Income 0.93 3.62 +288.69% 0.69 0.92 1.61 +74.69% +132.74% 9M 2012 9M 2013 3Q 2012 2Q 2013 3Q 2013 Net Interest Margin 3.91% 3.74% -0.17 PP 3.75% 3.76% 3.73% -0.03 PP -0.02 PP Cost/Income Ratio 46.47% 40.72% -5.75 PP 43.50% 44.18% 38.65% -5.53 PP -4.85 PP ROAE 3.10% 11.20% +8.10 PP 6.92% 8.97% 14.64% +5.67 PP +7.72 PP • • q-o-q q-o-q * Customer deposits are calculated as a sum of customer accounts and promissory notes (other debt securities in issue) ** Revenues calculation: net gains from investment securities available-for-sale are excluded from revenues as one-off y-o-y y-o-y 4
  • 5. • • * Provisions for FY 2012 reduced by the gain from disposal of investment property; Revenues calculation: net gains from investment securities available-for-sale are excluded from revenues as one-off 5
  • 6. 4281 5166 5419 • Upward trend in Net interest income despite pressure on margin • Trading income contributes to strong revenues • 5% costs growth y-o-y * Property tax is excluded from other administrative and operating expenses and included in expenses related to premises and equipment. 6
  • 7. * Provisions for 3Q 2012 reduced by the gain from disposal of investment property; Revenues calculation: net gains from investment securities available-for-sale are excluded from revenues as one-off 7
  • 8. • Record revenues • Healthy trading income for five quarters in a row • NIM flat • One-off gain from the sale of the Moscow Exchange shares in the amount of RUB 586 mln contributes to strong net income with no impact on equity * Property tax is excluded from other administrative and operating expenses and included in expenses related to premises and equipment. 8
  • 9. Average interest rate Average balance Contribution to NIM change: Contribution to NIM change: Due from banks -5 bp Corresponded accounts with other banks -8 bp Amounts receivable under reverse repo -3 bp Loans and advances to customers +24 bp Amounts receivable under reverse repo +4 bp Due to banks +6 bp Due to banks -23 bp Retail term deposits +5 bp Retail term deposits -12 bp Corporate term deposits +4 bp Corporate term deposits +9 bp Other debt securities issued -3 bp Total +7 bp Total -9 bp Other factors: -1 bp 9
  • 10. • Loans/Deposits Ratio close to targeted 100% * Average assets: loans, due from banks, securities portfolio, correspondent accounts ** Average liabilities: due to banks, customer accounts including current accounts, debt securities in issue 10
  • 11.  Retail loans 89% growth y-o-y, 15% growth q-o-q*  Large customer base: over 1.3 mln retail customers  Number of cards issued – 781,600 Consumer loans:  Impressive growth on the basis of the Bank's own customer base providing a low risk profile Internet banking:  Successful internet bank platform – 231,160 users  Top-3 Internet-Bank in Russia (Internet Banking Rank 2013 by Markswebb Rank & Report) Mortgages:   • BSPB ranked 3d among all banks and 1st among the privately-owned banks in St. Petersburg mortgage lending market BSPB share in new mortgage lending in St.Petersburg during 9M 2013 – 19% * Retail loans include mortgages, car and consumer loans 11
  • 12. 284 bn Loans granted in 2011-2013 69% 197 bn 284 bn standard 157 bn Corporate 168 bn 11 bn Retail 29 bn Loans granted before 2011 31% 87 bn impaired not past due1% overdue 2% standard 20% 57 bn Corporate 81 bn Retail 6 bn 55% 24 bn impaired not past due 5% overdue 4% • In 2011-2013 loan portfolio considerably renewed (69% new loans) • Major part of problem loans (RUB 24 bn) relate to “old” loan portfolio • Smaller tickets growth continues 12
  • 13. • Gross loan portfolio growth in 9M 2013 of 15.2% • Cost-of-Risk in line with the guidance and going down • Overdue Loans: Corporate – 6.8%; Retail – 3.5% • RUB 1.0 bn of the loan portfolio written off in 9M 2013 • Technical shift between two categories of loans with no impact on provision charge (several formerly fully provisioned loans turned into “overdue” category) 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 Overdue loans and impaired not past due loans include the whole principle of loan at least one day overdue or impaired 13
  • 14. Due from banks 0.5% Amounts under reverse repo 3.7% Fixed and other assets 6.4% Trading shares 0.06% Trading bonds 13.7% Corporate shares 0.06% Corporate Eurobonds 4.6% Other 0.7% Capital markets 6.2% Cash 11.3% Shareholders’ equity 11.4% Securities portfolio 14.3% Trading bonds pledged under sale and repurchase agreements 86.2% Due to banks 16.6% Customer accounts (individuals) 29.8% Corporate bonds 83.9% Municipal bonds 8.8% Federal loan bonds (OFZ) 2.6% Loans and advances to customers 63.8% Customer accounts (corporates) 35.2% • Conservative approach to risk: approximately 95% of the debt securities belong to the CBR Lombard list • Average duration of the securities portfolio is 1.4 years • Approximately 80% of assets and liabilities represented in RUB * Trading securities portfolio includes trading securities and trading securities pledged under sale and repurchase agreements 14
  • 15. • 414,8 338.1 276.8 218.6 354.5 In October 2013, Bank placed 5.5-year USD 100 mln subordinated eurobonds, which expected to contribute 0.8 PP to Total CAR • Capital adequacy ratio (N1) as at 1 October 2013 was 12.2 per cent, in full compliance with CBR requirement of 10% minimum 15
  • 16. New strategy 2014-2017 The principal strategic goal for 2014-2017 is to build an efficient bank with a scaleable business model E-banking: growing importance of remote selfservice banking channels Higher loan portfolio profitability with due account for the cost of risk Increasing non-interest income and the share of demand deposits Operating efficiency Distribution network transformation RoE ≥ 15% Standardization of internal reports for better workflow management Developing process management competencies for mass sales of standard products. Standardisation, optimisation and automation of processes in the mass segments Moderate growth appetite Moderate risk appetite Efficiency Scaleability  ROAE 15%+  Loan portfolio growth 10-11% p.a.  Cost of Risk 130bp  Retail loans growth 30% p.a.  NIM 4%+  Share of loans to individuals in gross loans 20% in 2017  Cost-to-Income ratio 40%  Tier 1 capital adequacy ratio 10%+ * New Strategy 2014-2017 was approved by the Supervisory Board on November 26, 2013 16
  • 17.  Loan portfolio growth 15-16%  ROAE 10%  Retail loans growth ca. 70%  Cost of Risk 160-170 bp  Share of loans to individuals in the loan book 13%  NIM 3,7-3,8%  Costs growth 6-7%  Cost-to-Income ratio 40%  Loan portfolio growth 12%  ROAE 12-15%  Retail loans growth 30%  Cost of Risk 150-160 bp  Share of loans to individuals in the loan book 14%  NIM 4%  Costs growth 10%  Cost-to-Income ratio 40% 17
  • 18. 18