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Fact sheet
CBM at a glance, key figures
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21.08.2017

CREDIT BANK OF MOSCOW demonstrates strong IFRS results for 1H2017

Key results

  • Net income increased by97.5% yoy toRUB 10.0 bln ($169.4 mln).
  • Return onequity and return onassets were 18.5% and 1.3% respectively.
  • Net interest margin was 2.9%.
  • Net interest income aspercentage ofaverage RWA was 4.3% .
  • Assets amounted toRUB 1.6 trln ($26.4 bln).
  • Gross loan portfolio rose 14.1% ytd toRUB 760.8 bln ($12.9 bln).
  • Ratio ofNPLs (90+ days) togross loan portfolio reduced from 2.3% asatend-2016 to1.9%.
  • Cost ofrisk (COR) decreased from 4.6% asatend-2016 to2.1%.
  • Customer deposits grew by16.6% in1H2017 toRUB 804.1 bln ($13.6 bln).
  • Equity increased by49.3% toRUB 154.4 bln ($2.6 bln).
  • Basel III capital grew by46.2% toRUB 233.6 bln ($3.4 bln), with the capital adequacy ratio of21.8%, and Tier Iratio of14.3%.
  • Cost-to-income ratio was 29.2%.

Balance sheet 1H2017, RUB bln 2016, RUB bln change, %
Assets 1 588,0 1 568,0 +1,3%
Liabilities 1 434,6 1 464,6 -2,0%
Equity 154,4 103,4 +49,3%
Capital (Basel III) 233,6 159,8 +46,2%
Gross loan portfolio 760,8 666,7 +14,1%
Key financial ratios, %
Basel capital adequacy ratio (CAR) 21,8% 14,7%
90+ NPL ratio (before provisions) 1,9% 2,3%
Cost of risk (COR) 2,1% 4,6%
Provisioning ratio 5,6% 6,0%
Net loans / deposits 89,3% 90,9%

Income statement 6M 2017, RUB bln 6M 2016, RUB bln change, %
Net interest income (before provisions) 20,7 20,5 +1,2%
Fee and commission income 8,0 6,3 +27,0%
Net income 10,0 5,1 +97,5%
Key financial ratios, %
Net interest margin (NIM) 2,9% 3,5%
Net interest income as percentage of average RWA (NII/ARWA) 4,3% 4,5%
Cost-to-income ratio (CTI) 29,2% 22,5%
Return on equity (ROAE) 18,5% 10,7%
Return on assets (ROAA) 1,3% 0,8%

Key financial indicators

The net income for 1H2017 increased byalmost 2 times yoy toRUB 10.0 bln. This was driven byfee income growth, which isapriority for the Bank, and improving quality ofits loan portfolio, which resulted inlower provisioning.

The net interest margin for 1H2017 was 2.9% ashighly liquid assets represented asignificant percentage ofthe Banksbalance sheet. The net interest income aspercentage ofaverage RWA was 4.3%. The Banksinterest margin indicators are inline with market trends.

The operating income (before provisions) for 1H2017 decreased by1.3% toRUB 28.7 bln. The operating expense increased by28.1% toRUB 8.3 bln asthe Bank expands its business. The Banksoperational efficiency remained atahigh level, aswitnessed bythe traditionally low cost-to-income (CTI) ratio which was 29.2% inthe reporting period.

The gross loan portfolio grew by14.1% ytd toRUB 760.8 bln, owing tothe corporate loan portfolio expanding by17.3% toRUB 663.9 bln mainly due toloans issued tohigh-quality large caps. The retail loan portfolio shrank bymoderate 3.6% toRUB 96.9 bln in1H2017, which reflects the Bankscautious approach toretail lending. The share ofcorporate loans inthe total loan portfolio grew from 84.9% asatend-2016 to87.3%. The ratio ofnon-performing loans (NPL90+) decreased by0.4 ppto1.9%. The improving loan portfolio quality was also evidenced byareduction inthe cost ofrisk to2.1% inthe reporting period from 4.6% asatend-2016. The NPL90+ coverage ratio increased from 263.3% asatend-2016 to302.9% asat1H2017.

The total assets amounted toRUB 1,588.0 bln asat1H2017.

The customer deposits increased by16.6% in1H2017 toRUB 804.1 bln, which is56.1% ofthe Banks total liabilities. The ratio ofloans after provisions todeposits was 89.3%.

The Basel III capital adequacy ratio grew from 14.7% asatend-2016 to21.8% in1H2017. The tier Icapital ratio rose from 9.4% to14.3%. The Bankstotal capital according tothe Basel III standards increased by46.2% in1H2017 toRUB 233.6 bln, mainly due toUSD 600 mln and USD 700 mln subordinated Eurobonds placed inApril and May which were factored intier 2 and tier 1 capital calculations, respectively.

Infrastructure development

Asof30 June 2017, CREDIT BANK OFMOSCOW had 96 offices, 24 stand-alone cash desks, 1,063 ATMs and 5,945 payment terminals (31 December 2016: 91, 24, 1,026 and 5,725 respectively).


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2007-2017 . General license 1978 issued by the Bank of Russia on 06 May 2016.