VTB Bank

Earnings Release • Sep 28, 2017

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JSC VTB Bank (VTBR)

VTB Group announces IFRS results for August and 8 months of 2017

28-Sep-2017 / 08:57 CET/CEST

Dissemination of a Regulatory Announcement, transmitted by EQS Group.

The issuer is solely responsible for the content of this announcement.

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VTB Group announces IFRS results for August and 8 months of 2017

VTB Bank, the parent company of VTB Group, today publishes its unaudited consolidated IFRS results for August 2017 and the 8 months ended 31 August 2017.

Income Statement

*     Net profit was RUB 68.7 billion (3 times increase year-on-year) in 8M 2017 and RUB 1.0 billion in August 2017 versus net profit of RUB 26.4 billion in 8M 2016 and RUB 8.5 billion in August 2016;

*     Net interest income was RUB 307.1 billion in 8M 2017, up 11.3% year-on-year, and RUB 40.2 billion in August 2017, up 19.6% year-on-year. The growth of net interest income was driven by expansion of net interest margin (4.1% in 8M 2017 and 4.2% in August 2017 versus 3.7% in 8M 2016 and 3.6% in August 2016);

*     Net fee and commission income was RUB 60.0 billion in 8M 2017 and RUB 9.1 billion in August 2017, up 20.5% and 54.2% 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 110.6 billion in 8M 2017 and RUB 18.6 billion in August 2017, down 21.9% and up 26.5% year-on-year, respectively. Cost of risk including credit related commitments was 1.6% in 8M 2017 and 2.1% in August 2017 versus 2.0% in 8M 2016 and 1.7% in August 2016;

*     Staff costs and administrative expenses amounted to RUB 164.4 billion in 8M 2017 and RUB 22.4 billion in August 2017, up 7.7% and 15.5% year-on-year, respectively. Cost-to-income ratio was 44.9% in 8M 2017 and 52.8% in August 2017 versus 47.2% in 8M 2016 and 46.3% in August 2016.

Statement of Financial Position

*     Total assets amounted to RUB 12,752.1 billion as of 31 August 2017, up 1.3% year-to-date. Gross loans and advances to customers grew 1.0% in 8M 2017. Gross loans to legal entities contracted by 1.8% in 8M 2017, while gross loans to individuals increased by 10.4% in 8M 2017;

*     The NPL ratio was 6.5% of total gross loans as of 31 August 2017, up 10 bps year-to-date. The NPL coverage ratio was 103.8% at 31 August 2017 (31 December 2016: 104.6%);

*     Total customer deposits grew 18.2% year-to-date, reaching RUB 8,682.9 billion as of 31 August 2017. Deposits from legal entities grew 24.2% in 8M 2017, while deposits from individuals were up 9.6% in 8M 2017;

*     Debt securities issued amounted to RUB 339.9 billion at 31 August 2017, down 14.9% year-to-date;

*     The loans-to-deposits ratio was 103.0% as of 31 August 2017 (31 December 2016: 120.5%);

*     As of 31 August 2017, Tier 1 CAR was 13.0% (31 December 2016: 12.9%), and total CAR was 14.6% (31 December 2016: 14.6%).

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Attachment

Document title: VTB Group 8M 2017 IFRS Unaudited Financial Highlights

Document: http://n.eqs.com/c/fncls.ssp?u=LVQKQMWSFY

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ISIN:	US46630Q2021
Category Code:	MSCM
TIDM:	VTBR
LEI Code:	253400V1H6ART1UQ0N98
Sequence No.:	4662

End of Announcement	EQS News Service

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613823  28-Sep-2017