VTB Group announces IFRS results for April and first 4 months of 2018

31.05.2018

VTB Bank, the parent company of VTB Group, today publishes its unaudited consolidated IFRS results for April 2018 and the 4 months ended 30 April 2018.

Income Statement

• Net profit was RUB 67.6 billion (91.5% increase year-on-year) in 4M 2018 and RUB 12.1 billion (57.1% increase year-on-year) in April 2018 versus net profit of RUB 35.3 billion in 4M 2017 and RUB 7.7 billion in April 2017. Net operating income before provisions grew 12.0% year-on-year in 4M 2018 and 33.9% year-on-year in April 2018;
• Net interest income was RUB 156.5 billion in 4M 2018, up 4.1% year-on-year, and RUB 40.2 billion in April 2018, up 7.8% year-on-year. Net interest margin was 4.1% in 4M 2018 and 4.1% in April 2018 unchanged versus 4M 2017 and April 2017, respectively;
• Net fee and commission income was RUB 30.4 billion in 4M 2018 and RUB 8.5 billion in April 2018, up 15.6% and 28.8% year-on-year, respectively;
• Total provision charges for impairment of debt financial assets and for impairment of other assets, credit related commitments and legal claims amounted to RUB 46.9 billion in 4M 2018 and RUB 26.2 billion in April 2018, down 21.4% and up 89.9% year-on-year, respectively. Cost of risk was 1.5% in 4M 2018 and 3.4% in April 2018 versus 1.8% in 4M 2017 and 1.8% in April 2017;
• Staff costs and administrative expenses amounted to RUB 83.0 billion in 4M 2018 and RUB 19.9 billion in April 2018, up 1.0% and down 3.4% year-on-year, respectively. Cost-to-income ratio was 38.9% in 4M 2018 and 32.7% in April 2018 versus 43.3% in 4M 2017 and 45.2% in April 2017.

Statement of Financial Position

• Total assets amounted to RUB 13,627.0 billion as of 30 April 2018, up 3.9% in April and 5.2% year-to-date (31 March 2018: RUB 13,109.4 billion; 01 January 2018: RUB 12,947.4 billion). Gross loans and advances to customers grew 0.6% in April and 1.7% year-to-date (30 April 2018: RUB 10,013.1 billion; 31 March 2018: RUB 9,952.8 billion; 01 January 2018: RUB 9,841.1 billion). Gross loans to legal entities increased by 0.1% in April and by 0.7% year-to-date, while gross loans to individuals increased by 2.1% in April and by 4.8% year-to-date;
• NPL ratio was 7.6% of total gross loans as of 30 April 2018, up 50 bps month-on-month and 70 bps year-to-date. As of 30 April 2018 NPL coverage ratio was 104.3% (31 March 2018: 105.8%, 01 January 2018: 107.9%);
• Total customer deposits grew 1.8% in April and 3.9% year-to-date, reaching RUB 9,497.9 billion as of 30 April 2018. Deposits from legal entities grew 0.4% in April and 0.2% year-to-date, while deposits from individuals grew 3.7% in April and 9.4% year-to-date;
• Loan-to-deposit ratio was 97.1% as of 30 April 2018 (31 March 2018: 98.7%, 01 January 2018: 99.6%);
• As of 30 April 2018, Tier 1 CAR was 12.7% (31 March 2018: 12.7%, 01 January 2018: 12.6%), and total CAR was 14.4% (31 March 2018: 14.5%, 01 January 2018: 14.4%).