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CREDIT BANK OF MOSCOW announced its 2014 annual IFRS financials on 28 April, 2015

EquityStory.RS, LLC-News: CREDIT BANK OF MOSCOW / Key word(s):
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CREDIT BANK OF MOSCOW announced its 2014 annual IFRS financials on 28
April, 2015

30.04.2015 / 11:40

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CREDIT BANK OF MOSCOW announced its 2014 annual IFRS financials on 28
April, 2015

Key results

- Net income amounted to RUB 5,569 mln ($99.0 mln).

- Net interest margin grew to 5.8% vs 5.2% in 2013

- Return on equity and return on assets were 10.1% and 1.1% respectively.

- Assets expanded by 28.8% to RUB 584,839 mln ($10,395.6 mln).

- Gross loan portfolio before provisions rose 24.0% to RUB 394,191 mln
($7,006.8 mln).

- The share of non-performing loans (90+ days) in the gross loan
portfolio grew to 2.3% in 2014 compared to 1.3% in 2013.

- Loan loss provisions grew from 2.8% to 4.1%.

- Customer accounts and deposits rose 21.8% to RUB 334,852 mln ($5,952.0
mln).

- Equity increased by 18.4% to RUB 59,987 mln ($1,066.3 mln).

- Basel III capital increased by 27.1% to RUB 90,339 mln ($1,605.8 mln),
with the capital adequacy ratio of 15.8%, and Tier I ratio of 10.5%.

- Cost-to-income ratio remained sustainably low at 33.7%.


Key financial results


Balance sheet 2014,RUB mln 2013,RUB mln change,%

Assets 584,839 454,202 +28.8%
Liabilities 524,852 403,544 +30.1%
Equity 59,987 50,658 +18.4%
Capital (Basel) 90,339 71,064 +27.1%
Gross loan portfolio before
provisions 394,191 317,860 +24.0%
Key financial ratios, %
Basel capital adequacy ratio (CAR) 15.8% 14.8%
90+ NPL ratio (before provisions) 2.3% 1.3%
Loan-loss provisions / Gross loans 4.1% 2.8%
Net loans / deposits 112.9% 112.4%

Income statement 2014,RUB mln 2013,RUB mln change,%

Net interest income 25,808 17,380 +48.5%
(before provisions)
Fee and commission income 9,102 7,205 +26.3%
Net income 5,569 8,880 -37.3%
Key financial ratios, %
Net interest margin (NIM) 5.8% 5.2%
Cost-to-income ratio (CTI) 33.7% 31.2%
Return on equity (ROAE) 10.1% 20.1%
Return on assets (ROAA) 1.1% 2.4%


Total assets grew by 28.8% to RUB 584.8 bln in 2014, of which cash and cash
equivalents represented 20.3% as a result of the Bank's conservative
liquidity management policy amid the market turbulence in late 2014

Gross loan portfolio (before provisions) stands at RUB 394.2 bln, 24.0%
more than at 2013YE. The corporate loan book grew by 20.9% to RUB 265.9