CREDIT BANK OF MOSCOW announces its RAS financials for 1Q2016

28.04.2016

<p>CREDIT BANK OF MOSCOW has reported its results for 1Q2016 in accordance with Russian Accounting Standards (RAS).</p> <p>The Bank's <b>net income</b> for the 3 months of 2016 amounted to RUB 509 mln. <b>Interest income</b> rose by 51.9% to RUB 28.2 bln. As the interest expense grew by just 35.4%, RUB 9.8 bln of <b>net interest income</b> (before provisions) was generated. <b>Provisions for loans impairment</b> grew by 15.3% yoy to RUB 6.9 bln as a result of the loan portfolio growth and the Bank's conservative approach to provisioning in the unfavourable macroeconomic environment.</p> <p>The <b>net fee income</b> for 1Q2016 amounted to RUB 1.8 bln which is 14.2% more than one year ago. <b>Operating income</b> (before provisions) increased by 41.5% to RUB 11.8 bln.</p> <p>The Bank's <b>total assets</b> as of 1 April 2016 reached RUB 1,348.2 bln, a 13.4% growth ytd. CREDIT BANK OF MOSCOW is ranked 11th by total assets among Russian banks (Banki.ru) and is one of the 5 largest privately-owned banks.</p> <p>The Bank's <b>gross loan portfolio</b> expanded by 13.5% and reached RUB 964.5 bln, of which RUB 846.7 bln are attributable to corporate loans and RUB 117.8 bln to retail loans.</p> <p>The Bank's <b>total liabilities</b> grew by 14.5% ytd mainly due to expansion of interbank and corporate deposits. <b>Corporate deposits</b> increased by 4.4% to RUB 823.8 bln, <b>retail deposits</b> rose by 0.85% to RUB 199.8 bln. <b>Deposits by credit institutions</b> amounted to RUB 170.2 bln.</p> <p><b>Total capital</b> calculated in accordance with Basel III standards as of 1 April 2016 was RUB 147.5 bln, minus 4.5% ytd. Capital adequacy ratios were as follows: N1.1 — 7.5%, N1.2 — 7.5%, N1.0 — 14.0%.</p> <p>The Bank’s branch network consists of 65 offices and 21 stand-alone cash desks in and around Moscow. Its network of payment banking devices counts 946 ATMs and over 5,400 payment terminals.</p>