CREDIT BANK OF MOSCOW summarized its preliminary 2011 results under the Russian Accounting Standards (RAS)
07.02.2012
CREDIT BANK OF MOSCOW announces preliminary results for 2011 under the Russian Accounting Standards (RAS).
The Bank’s net income in 2011 amounted to RUB 2.128bln exceeding 2010 net income by 70%.
Total assets of the Bank increased in 2011 by RUB 67bln and reached RUB 230bln as of January 1, 2012 (41% growth). According to "Interfax-100. Banks in Russia. Key performance indicators for 2011”, CBM is 21st by assets (compared to 26 in 2010 ranking).
The loan portfolio of CBM before impairment provisions expanded by 58% in 2011 and reached RUB 165.7bln as of the reporting date. Corporate loan portfolio grew by 57% to RUB 135.9bln, retail loan portfolio - by 63% to RUB 29.8bln. During 2011 the total amount of the Bank’s liabilities increased by 40% to RUB 212.5bln. The amount of deposits by corporate clients reached RUB 55.7bln, exceeding the previous year results by 60%. Term deposits by corporate clients amounted to RUB 37.7bln (103% growth). The amount of deposits by individuals increased by 68% to RUB 84.2bln.
Last year the Bank continued to diversify its funding base. Volume of issued bonds increased by 86%, their outstanding balance amounted to RUB 20.4bln as of January 1, 2012.
In 2011, CBM has been actively developing its relationships with foreign financial institutions. In July 2011 the Bank issued Eurobonds in the amount of US$200mln. In August 2011 the Black Sea Trade and Development Bank (BSTDB) granted US$30mln credit facility to the Bank for small and medium-sized entities financing. In November 2011 CBM raised a syndicated loan for the total amount of US$131mln, which was organized by the International Finance Corporation (IFC). The Bank became more active in trade finance segment: 457 deals for the total amount of US$822mln were carried out through CBM in 2011, which exceeds previous year's results by more than twofold.
As at the end-2011 CBM’s branch network included 60 branches and 13 cash offices in Moscow and Moscow region. The number of points of the Bank’s presence increased by 10 compared to 2010. CBM’s branch network is one of the most effective, according to RBC Rating. The Bank is ranked 6th among Top50 banks by loans per point of presence, 8th by deposit portfolio per point of presence and 9th by net assets per point of presence (as of October 1, 2011).
The number of the Bank’s ATMs increased from 402 (2010 year) to 604. The network of payment terminals increased by more than two times during the year - from 1737 up to 4014 devices. CBM is #1 in Moscow and #2 in Russia in the ranking of banks by the number of proprietary cash-in payment terminals as of July 1, 2011 (RBC Rating). The Bank is also ranked 9th by the number of proprietary ATMs in Moscow (RBC Rating) as of July 1, 2011.
The Bank retains leading position in cash collection segment. CBM serves not only its own branch network and its clients, but also provides collection services to other financial institutions and their customers. During 2011 the number of cash collection points increased by 1685 and reached 6483. 26 new cash collection itineraries were put in place bringing their total number to 122. According to a survey made by Interfax-CEA in July 2011, CREDIT BANK OF MOSCOW is number 3 in the metropolitan cash collection market, its volume being second to such specialized carriers as Rosinkas and Inkahran. On the national scale, CBM ranks 4th largest cash collectors.
Background details
CREDIT BANK OF MOSCOW was founded in 1992. It holds general license No. 1978 issued by the Bank of Russia.
The Bank ranks the 21st among Russia's largest banks (INTERFAX-100).
CREDIT BANK OF MOSCOW is a universal credit and financial institution, providing a full range of banking services.
CBM's total assets under RAS were RUB 230 bln as of 2011 year-end. The Bank’s balance income in 2011 went up by 70% compared to 2010 and reached RUB 2.128 bln.
The Bank focuses on Moscow and the Moscow Region. The Bank’s branch network includes 60 branches, more than 600 ATMs and 4000 payment terminals.
Since 2004 the Bank has been admitted to the Deposit Insurance System.
CREDIT BANK OF MOSCOW’s sole shareholder is “ROSSIUM Concern”, LLC. The Bank’s ultimate beneficial owner is Mr. Roman Ivanovich Avdeev.