Gazprombank releases financial results for 1Q2017, with net income at RUB 7.3 bln in accordance with IFRS
Moscow, May, 30, 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 three months of 2017 and as of 31 March 2017.
“The Group successfully started operating in 2017, reporting net income in the first quarter, expanding its resource base and maintaining asset quality. The Bank continues to monitor operating expenses and retains its interest margin.”, Deputy Chairman of the Management Board Mr. Alexander Sobol said.
Bank GPB (JSC) key financial indicators for 1Q2017 are as follows:
• Net income totaled RUB 7.3 bn.
• ROE and ROA stood at 5.9% and 0.6%, respectively.
• Quarterly net interest margin comprised 2.8%.
• Quarterly Cost of Risk stood at 0.4% compared to 0.6% in 1Q2016.
• The Group’s cost-to-income ratio rose to 54.1% compared to 45.3% in 1Q2016.
• Assets increased to RUB 5,282.1 bn.
• The total loan portfolio amounted to RUB 3,381.4 bn.
• The share of non-performing loans (overdue 90+ days and defaulted loans) in the total loan portfolio decreased to 2.9% as at 31 March 2017.
• The provisioning ratio remained stable at 7.5%.
• Customer accounts increased to RUB 3,765.4 bn, up by 13.0% in the first 3 months of 2017, while the loans-to-deposit ratio decreased to 89.8% as at 31 March 2017.
• The Group’s Basel I total capital decreased during the quarter to RUB 615.8 bn, the total capital adequacy ratio stood at 13.5%, the Tier-1 capital adequacy ratio amounted to 10.1%.
“The Group successfully started operating in 2017, reporting net income in the first quarter, expanding its resource base and maintaining asset quality. The Bank continues to monitor operating expenses and retains its interest margin.”, Deputy Chairman of the Management Board Mr. Alexander Sobol said.
Bank GPB (JSC) key financial indicators for 1Q2017 are as follows:
• Net income totaled RUB 7.3 bn.
• ROE and ROA stood at 5.9% and 0.6%, respectively.
• Quarterly net interest margin comprised 2.8%.
• Quarterly Cost of Risk stood at 0.4% compared to 0.6% in 1Q2016.
• The Group’s cost-to-income ratio rose to 54.1% compared to 45.3% in 1Q2016.
• Assets increased to RUB 5,282.1 bn.
• The total loan portfolio amounted to RUB 3,381.4 bn.
• The share of non-performing loans (overdue 90+ days and defaulted loans) in the total loan portfolio decreased to 2.9% as at 31 March 2017.
• The provisioning ratio remained stable at 7.5%.
• Customer accounts increased to RUB 3,765.4 bn, up by 13.0% in the first 3 months of 2017, while the loans-to-deposit ratio decreased to 89.8% as at 31 March 2017.
• The Group’s Basel I total capital decreased during the quarter to RUB 615.8 bn, the total capital adequacy ratio stood at 13.5%, the Tier-1 capital adequacy ratio amounted to 10.1%.
