Bank Saint Petersburg earned RUB 2.4 bn, doubling RAS net income in 1Q2020
Bank Saint Petersburg summarized its performance for 1Q 2020 under RAS (non-сonsolidated financials calculated in accordance with BSPB`s internal methodology based on RAS).
Financial highlights for 1Q 2020:
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- Net Income for 1Q 2020 amounted to RUB 2.4 bn (+103.0% compared with 1Q 2019); |
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- Net Interest Income for 1Q 2020 amounted to RUB 6.3 bn (+20.3% compared with 1Q 2019); |
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- Net Fee and Commission Income for 1Q 2020 amounted to RUB 1.8 bn (+25.1% compared with 1Q 2019); |
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- Loans to corporates in 1Q 2020 increased by 9.8% and amounted to RUB 328.8 bn; |
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- Tier 1 capital adequacy ratio (N1.2) as at April 1, 2020 amounted to 10.4%, the total capital adequacy ratio (N1.0) amounted to 13.5%; |
Bank Saint Petersburg is ranked 14th in terms of assets and 14th in terms of retail deposits among the Russian banks (Interfax ranking). As at April 1, 2020, the Bank provides services to 2 154 000 individuals and 50 000 corporates; the number of cards issued by the Bank is 1 538 000; the Bank’s ATM network comprised of 810 ATMs. At present Internet Bank is used by 1 333 000 clients.
Results summary for 1Q 2020
Net Interest Income for 1Q 2020 amounted to RUB 6.3 bn (+20.3% compared with 1Q 2019).
Net Fee and Commission Income for 1Q 2020 increased by 25.1% compared with 1Q 2019 and amounted to RUB 1.8 bn. Net Trading income for 1Q 2020 amounted to RUB 2.4 bn. Revenues for 1Q 2020 amounted to RUB 10.9 bn (+69.9% compared with 1Q 2019).
Operating expenses for 1Q 2020 amounted to RUB 4.3 bn (+20.0% compared with 1Q 2019).
Net Income for 1Q 2020 amounted to RUB 2.4 bn and increased by 103.0% compared with 1Q 2019.
Bank’s assets amounted to RUB 665.1 bn as at April 1, 2020 (-0.3 % compared with January 1, 2020).
Liabilities. As at April 1, 2020, customer deposits totalled RUB 434.4 bn (+4.5% compared with January 1, 2020; +0.3% net of ForEx revaluation). The corporate customer deposits amounted to RUB 180.8 bn (+6.7% compared with January 1, 2020; +2.6% net of ForEx revaluation). Retail customer deposits amounted to RUB 253.6 bn (+2.9% compared with January 1, 2020; -1.2% net of ForEx revaluation).
As at April 1, 2020, the Bank’s total capital calculated under the CBR regulations (Basel III) amounted to RUB 83.2 bn (+1.7% compared with January 1, 2020). As a result, the Tier 1 capital adequacy ratio (N1.2) as at April 1, 2020 amounted to 10.4% (required regulatory minimum is 6.0%) and the total capital adequacy ratio (N1.0) as at April 1, 2020 amounted to 13.5% (required regulatory minimum is 8.0%).
Loan portfolio totalled RUB 427.4 bn as at April 1, 2020 (+8.0% compared with January 1, 2020; +3.7% net of ForEx revaluation). Corporate loan portfolio amounted to RUB 328.8 bn (+9.8% compared with January 1, 2020; +4.1% net of ForEx revaluation). Loans to individuals amounted to RUB 98.6 bn (+2.6% compared with January 1, 2020; +2.6% net of ForEx revaluation). As at April 1, 2020, the share of the overdue loans amounted to 5.2%.