Bank VTB : VTB Group announces IFRS results for November and 11 months of 2017

VTB Group announces IFRS results for November and 11months of2017

VTB Bank, the parent company of VTB Group, today publishes its unaudited consolidated IFRS resultsforNovember2017 and the 11months ended 30November2017.

Income Statement

*     Net profit was RUB 7.9billionin November2017(+5.3% year-on-year) and RUB 98.8 billion (+117.1% year-on-year) in 11M 2017 versus net profit of RUB 7.5billion in November2016 and RUB 45.5 billion in11M 2016;

*     Net interest income was RUB 37.8billion in November2017, up 12.2% year-on-year, and RUB420.5 billion in 11M 2017, up 11.2% year-on-year. Net interest margin was4.0% in November 2017 and 4.1% in 11M 2017 versus 3.7% in November 2016 and 3.7% in 11M 2016;

*     Net fee and commission income was RUB 7.6billion in November2017 and RUB 82.6billion in 11M 2017, up 2.7% and 17.2% year-on-year, respectively;

*     Total provision charges for impairment of debt financial assets and for impairment of other assets, credit related commitments and legal claimsamounted to RUB 14.7billion in November2017 and RUB 144.3 billion in 11M 2017, up31.3% anddown 18.6%year-on-year, respectively;

*     Staff costs and administrative expenses amounted to RUB 20.8 billion in November2017 and RUB 228.4 billion in11M 2017, up 15.6%and 9.3%year-on-year, respectively. Cost-to-income ratio was 44.6% in November2017and 45.2% in 11M 2017 versus 45.8% in November2016 and 46.9% in 11M 2016.

Statement of Financial Position

*     Total assets amounted to RUB 12,945.1billion as of 30November2017,up 2.8% year-to-date and up 2.2% in November 2017. Gross loans and advances to customers grew2.0% year-to-date and 0.4% in November2017, reaching RUB 9,680.3billion as of 30November2017. Gross loans to legal entities contracted by 1.6% in 11M 2017 and grew 0.2% in November 2017, while gross loans to individuals increased by 14.2% in 11M 2017and by 1.1% in November 2017;

*     The NPL ratio was 6.1% of total gross loans as of30November2017, down30 bps year-to-date. The NPL coverage ratio was 105.1% at 30November2017 (31 December 2016: 104.6%);

*     Total customer deposits grew 22.7% year-to-date and 2.9% in November 2017, reaching RUB 9,016.4billion as of30November2017. Deposits from legal entities grew 28.6% in 11M 2017and 3.4% in November 2017, while deposits from individuals were up14.2% in 11M 2017 and up 2.1% in November 2017;

*     Debt securities issued amounted to RUB 328.9 billion at 30November2017, down 17.7% year-to-date;

*     The loans-to-deposits ratio was 100.4% as of 30November2017 (31 December 2016: 120.5%);

*     As of 30November 2017,Tier 1 CAR was 13.1%(31 December 2016: 12.9%), and total CAR was 14.6% (31 December 2016: 14.6%).