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CREDIT BANK OF MOSCOW publishes its RAS results for 1Q2018

25.04.2018

The Bank’s net income for the first 3 months of 2018 was RUB 1.9 bln.

The net interest income (before provisions) earned in the first quarter of 2018 grew by 14.8% yoy to RUB 11.9 bln due to the growth of interest income from lending by 25.9% to RUB 32.3 bln.

Total assets were RUB 1.8 tln as at 1 April 2018.

The total corporate and retail loan portfolio, including repos, was stable and stood at RUB 1,596 bln, of which RUB 1,501.4 bln or 94.1% is attributable to corporate loans and RUB 94.6 bln or 5.9% to retail loans.

Customer deposits were RUB 1,040.5 bln, with retail deposits rising by 5.8% ytd to RUB 301.5 bln. Corporate deposits increased by 7.0% in the last month to RUB 739.0 bln.

Capital adequacy ratios as of 1 April 2018 strengthened materially compared to the 1st January and reached: N1.1 — 9.3%, N1.2 — 12.8%, N1.0 — 21.8%.

The total capital calculated in accordance with Basel III was RUB 250.1 bln.

In the first quarter of 2018, the Bank successfully placed a USD 500 mln senior Eurobond issue via its special purpose vehicle CBOM Finance p.l.c., and signed an up to USD 400 mln syndicated facility agreement with lenders from 10 countries of Europe, North America, Middle East and Asia. Thus the Bank, for a second year in a row, maintains its leadership among Russian financial institutions in terms of the size and number of international borrowings.

The cost of those borrowings was the lowest ever achieved by the Bank in the relevant international markets and the Eurobond coupon rate was the lowest among all the then outstanding 5-year Eurobonds issued by Russian privately-owned banks.