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

VTB Bank, the parent company of VTB Group, today publishes its unaudited consolidated IFRS results for November 2017 and the 11 months ended 30 November 2017.

Income Statement

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

*     Net interest income was RUB 37.8 billion in November 2017, up 12.2% year-on-year, and RUB 420.5 billion in 11M 2017, up 11.2% year-on-year. Net interest margin was 4.0% 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 7.6 billion in November 2017 and RUB 82.6 billion 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 claims amounted to RUB 14.7 billion in November 2017 and RUB 144.3 billion in 11M 2017, up 31.3% and down 18.6% year-on-year, respectively;

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

Statement of Financial Position

*     Total assets amounted to RUB 12,945.1 billion as of 30 November 2017, up 2.8% year-to-date and up 2.2% in November 2017. Gross loans and advances to customers grew 2.0% year-to-date and 0.4% in November 2017, reaching RUB 9,680.3 billion as of 30 November 2017. 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 2017 and by 1.1% in November 2017;

*     The NPL ratio was 6.1% of total gross loans as of 30 November 2017, down 30 bps year-to-date. The NPL coverage ratio was 105.1% at 30 November 2017 (31 December 2016: 104.6%);

*     Total customer deposits grew 22.7% year-to-date and 2.9% in November 2017, reaching RUB 9,016.4 billion as of 30 November 2017. Deposits from legal entities grew 28.6% in 11M 2017 and 3.4% in November 2017, while deposits from individuals were up 14.2% in 11M 2017 and up 2.1% in November 2017;

*     Debt securities issued amounted to RUB 328.9 billion at 30 November 2017, down 17.7% year-to-date;

*     The loans-to-deposits ratio was 100.4% as of 30 November 2017 (31 December 2016: 120.5%);

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