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CREDIT BANK OF MOSCOW reports its RAS results for 9Q2016

10.11.2016

The Bank's net income for the 9 months of 2016 was RUB 2.0 bln. Operating income (before provisions) increased by 45.0% yoy to RUB 43.3 bln mainly due to the growth of interest income from corporate and retail lending.

Interest income grew by 31.4% yoy to RUB 84.8 bln. Interest expense increased by just 21.8%. Loss provisions grew to RUB 24.3 bln, and net interest income after provisions amounted to RUB 7.6 bln, having risen by 11% yoy.

The Bank's total assets increased by 8.1% ytd to RUB 1,282.2 bln, of which 83.4% represent net loans to customers and 9.6% investments in securities. CREDIT BANK OF MOSCOW is ranked 9th by total assets among Russian banks (Banki.ru) and is a top 3 privately-owned bank.

The Bank's loan portfolio before impairment provisions expanded by 24.4% ytd and reached RUB 1,056.4 bln, of which RUB 946.0 bln or 89.6% are attributable to the corporate loan portfolio, and RUB 110.4 bln or 10.4% to the retail loan portfolio.

The Bank's total liabilities grew slightly to RUB 1,199.2 bln. Corporate deposits decreased by 11.8% to RUB 695.8 bln, retail deposits increased by 12.3% to RUB 222.5 bln. Liabilities to credit institutions rose by almost 3.9 times to RUB 221.6 bln.

Total capital calculated in accordance with Basel III was RUB 141.8 bln as of 1 October 2016, minus 6.1% ytd due to devaluation of FX-nominated subordinated loans as a result of rouble appreciation and their amortisation. Capital adequacy ratios in 1H2016 were: N1.1 — 7.6%, N1.2 — 7.6%, N1.0 — 13.87%.