Gazprombank releases financial results for 9M2017, with net income at RUB 32.9 bn in accordance with IFRS
Moscow, August, 29, 2017 - Gazprombank (Joint Stock Company) (hereinafter, Bank GPB (JSC) or the Bank) published interim financial results prepared in accordance with International Financial Reporting Standards (IFRS) for the first six months (FSM) of 2017 as of 30 June 2017.
“The GPB Group increased its net income in the first six months of 2017, retaining net interest margin and expanding interest income, and also enhanced its retail operations. The additional issue of the Bank’s ordinary shares, which was over in the summer of 2017, strengthened its capital adequacy ratios and revealed additional opportunities for the Group to further expand its business”, Deputy Chairman of the Management Board, Mr. Alexander Sobol, said.
Bank GPB (JSC) key financial indicators for 1H2017 / as at 30 June 2017:
• Net income totalled RUB 26.2 bn compared to RUB 14.2 bn in 1H2016.
• ROE and ROA stood at 10.2% and 1.0%, respectively.
• FSM net interest margin comprised 3.1% compared to 2.9% in 1H2016.
• Net commission income amounted to RUB 7.5 bn in 1H2017 compared to RUB 6.7 bn in 1H2016.
• Cost of Risk stood at 0.3% compared to 0.9% in 1H2016.
• Cost-to-income ratio reached 47.2% compared to 42.8% in 1H2016.
• Assets increased to RUB 5,184.4 bn. (RUB 4,879.2 bn as at year-end 2016).
• The total loan portfolio amounted to RUB 3,490.3 bn compared to RUB 3,503.9 bn as at year-end 2016.
• The share of non-performing loans (NPL) (overdue 90+ days and defaulted loans) in the total loan portfolio increased to 3.3% as at 30 June 2017 compared to 3.0% as at year-end 2016.
• The provisioning ratio decreased from 7.3% to 6.3% in 1H2017.
• Customer accounts amounted to RUB 3,566.1 bn as at 30 June 2017 compared to RUB 3,330.8 bn as at year-end 2016, while the loans-to-deposit ratio stood at 97.9% as at 30 June 2017.
• Basel I total capital increased to RUB 694.9 bn as at 30 June 2017, the total capital adequacy ratio stood at 14.6%, the Tier-1 capital adequacy ratio amounted to 11.1%.
“The GPB Group increased its net income in the first six months of 2017, retaining net interest margin and expanding interest income, and also enhanced its retail operations. The additional issue of the Bank’s ordinary shares, which was over in the summer of 2017, strengthened its capital adequacy ratios and revealed additional opportunities for the Group to further expand its business”, Deputy Chairman of the Management Board, Mr. Alexander Sobol, said.
Bank GPB (JSC) key financial indicators for 1H2017 / as at 30 June 2017:
• Net income totalled RUB 26.2 bn compared to RUB 14.2 bn in 1H2016.
• ROE and ROA stood at 10.2% and 1.0%, respectively.
• FSM net interest margin comprised 3.1% compared to 2.9% in 1H2016.
• Net commission income amounted to RUB 7.5 bn in 1H2017 compared to RUB 6.7 bn in 1H2016.
• Cost of Risk stood at 0.3% compared to 0.9% in 1H2016.
• Cost-to-income ratio reached 47.2% compared to 42.8% in 1H2016.
• Assets increased to RUB 5,184.4 bn. (RUB 4,879.2 bn as at year-end 2016).
• The total loan portfolio amounted to RUB 3,490.3 bn compared to RUB 3,503.9 bn as at year-end 2016.
• The share of non-performing loans (NPL) (overdue 90+ days and defaulted loans) in the total loan portfolio increased to 3.3% as at 30 June 2017 compared to 3.0% as at year-end 2016.
• The provisioning ratio decreased from 7.3% to 6.3% in 1H2017.
• Customer accounts amounted to RUB 3,566.1 bn as at 30 June 2017 compared to RUB 3,330.8 bn as at year-end 2016, while the loans-to-deposit ratio stood at 97.9% as at 30 June 2017.
• Basel I total capital increased to RUB 694.9 bn as at 30 June 2017, the total capital adequacy ratio stood at 14.6%, the Tier-1 capital adequacy ratio amounted to 11.1%.
