Bank Of Moscow

BoM's mortgage loans rose 44.2% to RUB 69.0 bil in 2014

By Helgi Analytics - November 29, 2018

Bank Of Moscow's mortgage loans reached RUB 69.0 bil in 2014, up 44.2% compared to the previous year. Russian banking sector pr...

BoM's customer loans rose 20.6% to RUB 1,096 bil in 2014

By Helgi Analytics - September 5, 2018

Bank Of Moscow's customer loans reached RUB 1,096 bil in 2014, up 20.6% compared to the previous year. Russian banking sector p...

BoM's retail deposits rose 18.7% to RUB 270 bil in 2014

By Helgi Analytics - November 29, 2018

Bank Of Moscow's retail deposits reached RUB 270 bil in 2014, up 18.7% compared to the previous year. Russian banking sector ac...

Profit Statement 2012 2013 2014
Net Interest Income RUB bil 39.5 59.8 62.4
Net Fee Income RUB bil 6.31 8.29 12.1
Other Income RUB bil 19.9 27.9 22.1
Total Revenues RUB bil 65.7 96.0 96.6
Staff Cost RUB bil 13.7 18.4 22.3
Operating Profit RUB bil 24.7 38.2 38.7
Provisions RUB bil -15.0 -7.13 37.6
Net Profit RUB bil 28.4 37.7 2.30
Balance Sheet 2012 2013 2014
Interbank Loans RUB bil 168 163 509
Customer Loans RUB bil 650 909 1,096
Debt Securities RUB bil 343 400 318
Total Assets RUB bil 1,293 1,629 2,129
Shareholders' Equity RUB bil 189 216 188
Interbank Borrowing RUB bil 366 477 950
Customer Deposits RUB bil 464 616 632
Issued Debt Securities RUB bil 220 229 169
Ratios 2012 2013 2014
ROE % 16.1 18.6 1.14
ROA % 2.41 2.58 0.122
Costs (As % Of Assets) % 3.48 3.95 3.08
Costs (As % Of Income) % 62.4 60.2 59.9
Capital Adequacy Ratio % 14.0 13.1 10.2
Net Interest Margin % 3.36 4.09 3.32
Loans (As % Of Deposits) % 140 148 174
NPLs (As % Of Loans) % 4.34 2.27 2.87
Provisions (As % Of NPLs) % 595 836 710
Valuation 2012 2013 2014
Market Capitalisation (End Of Period) USD mil ... 6,181 3,735
Share Price (End Of Period) RUB ... 748 835
Price/Earnings (P/E) ... 5,383 98,632
Price/Book Value (P/BV) ... 940 1,209
Earnings Per Share (EPS) RUB ... 0.139 0.008
Book Value Per Share RUB ... 0.795 0.690

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summary Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014
income statement                  
Net Interest Income RUB bil     28.4 31.3 39.6 23.8 39.5    
Total Revenues RUB bil     34.4 49.8 54.1 189 65.7    
Operating Profit RUB bil     11.4 32.2 19.3 144 24.7    
Net Profit RUB bil     6.98 0.717 -69.8 24.6 28.4    
balance sheet                  
Interbank Loans RUB bil     74.3 50.7 79.5 159 168    
Customer Loans RUB bil     517 558 506 534 650    
Debt Securities RUB bil     51.0 114 147 255 343    
Total Assets RUB bil     801 825 849 1,060 1,293    
Shareholders' Equity RUB bil     67.7 84.5 37.0 163 189    
Interbank Borrowing RUB bil     215 212 145 44.0 366    
Customer Deposits RUB bil     407 428 543 419 464    
Issued Debt Securities RUB bil     91.7 92.2 115 414 220    
ratios                  
ROE %     12.0 0.943 -115 24.6 16.1    
ROA %     1.05 0.088 -8.33 2.58 2.41    
Costs (As % Of Assets) %     3.47 2.17 4.16 4.71 3.48    
Costs (As % Of Income) %     67.0 35.4 64.4 23.8 62.4    
Capital Adequacy Ratio %     13.9 18.2 8.10 33.6 14.0    
Net Interest Margin %     4.27 3.85 4.73 2.49 3.36    
Interest Income (As % Of Revenues) %     82.4 62.8 73.2 12.6 60.2    
Fee Income (As % Of Revenues) %     4.24 11.0 10.1 3.12 9.60    
Staff Cost (As % Of Total Cost) %     34.4 42.1 27.2 22.2 33.4    
Equity (As % Of Assets) %     8.44 10.2 4.35 15.4 14.6    
Loans (As % Of Deposits) %     127 130 93.1 127 140    
Loans (As % Assets) %     64.5 67.6 59.5 50.4 50.3    
NPLs (As % Of Loans) %     15.6 14.3 21.9 5.45 4.34    
Provisions (As % Of NPLs) % ... ... ... 50.3 104 594 595    
valuation                  
Market Capitalisation (End Of Period) USD mil ... ... ... ... ... ... ...    
Number Of Shares (Average) mil ... ... ... ... ... ... ...    
Share Price (End Of Period) RUB ... ... ... ... ... ... ...    
Earnings Per Share (EPS) RUB ... ... ... ... ... ... ...    
Book Value Per Share RUB ... ... ... ... ... ... ...    
Price/Earnings (P/E) ... ... ... ... ... ... ...    
Price/Book Value (P/BV) ... ... ... ... ... ... ...    
Earnings Per Share Growth % ... ... ... ... ... ... ... ...  
Book Value Per Share Growth % ... ... ... ... ... ... ... ...  
income statement Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014
income statement                  
Interest Income RUB bil     61.6 82.3 77.2 58.9 90.1    
Interest Cost RUB bil     33.2 51.0 37.6 35.1 50.6    
Net Interest Income RUB bil     28.4 31.3 39.6 23.8 39.5    
Net Fee Income RUB bil     1.46 5.48 5.46 5.89 6.31    
Other Income RUB bil     4.60 13.0 9.06 159 19.9    
Total Revenues RUB bil     34.4 49.8 54.1 189 65.7    
Staff Cost RUB bil     7.94 7.43 9.50 9.98 13.7    
Depreciation RUB bil     0.687 0.848 1.95 1.99 2.43    
Other Cost RUB bil     14.5 9.36 23.4 33.0 24.9    
Operating Cost RUB bil     23.1 17.6 34.9 45.0 41.0    
Operating Profit RUB bil     11.4 32.2 19.3 144 24.7    
Provisions RUB bil     8.97 30.8 106 121 -15.0    
Extra and Other Cost RUB bil     -5.85 0.159 -0.962 -8.58 4.89    
Pre-Tax Profit RUB bil     8.25 1.25 -85.3 31.4 34.9    
Tax RUB bil     1.27 0.535 -15.5 6.81 6.57    
Minorities RUB bil     0 0 < 0.001 < 0.001 -0.065    
Net Profit RUB bil     6.98 0.717 -69.8 24.6 28.4    
growth rates                  
Net Interest Income Growth % ...   48.8 10.2 26.7 -39.9 65.9    
Net Fee Income Growth % ...   -66.0 275 -0.374 7.84 7.12    
Total Revenue Growth % ...   23.7 44.6 8.73 248 -65.1    
Operating Cost Growth % ...   64.5 -23.6 97.7 28.9 -8.86    
Operating Profit Growth % ...   -17.8 183 -40.0 645 -82.8    
Pre-Tax Profit Growth % ...   -37.5 -84.8 -6,910 -137 11.0    
Net Profit Growth % ...   -21.5 -89.7 -9,828 -135 15.3    
market share                  
Market Share in Revenues %     1.32 1.79 2.15 5.41 1.66    
Market Share in Net Profit %     1.69 0.603 ... 3.63 3.59    
Market Share in Employees % ... ... ... ... ... ... ... ...  
balance sheet Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014
balance sheet                  
Cash RUB bil     134 79.9 77.1 72.6 77.2    
Interbank Loans RUB bil     74.3 50.7 79.5 159 168    
Customer Loans RUB bil     517 558 506 534 650    
Retail Loans RUB bil     88.1 70.7 66.4 65.3 89.5    
Mortgage Loans RUB bil     30.9 27.5 26.3 21.5 19.6    
Consumer Loans RUB bil     57.1 43.2 40.1 43.9 69.9    
Corporate Loans RUB bil     410 513 575 714 780    
Debt Securities RUB bil     51.0 114 147 255 343    
Fixed Assets RUB bil     19.3 17.3 16.0 20.5 33.9    
Total Assets RUB bil     801 825 849 1,060 1,293    
Shareholders' Equity RUB bil     67.7 84.5 37.0 163 189    
Of Which Minority Interest RUB bil     0.326 0.245 0.429 0.244 0.157    
Liabilities RUB bil     734 741 813 897 1,104    
Interbank Borrowing RUB bil     215 212 145 44.0 366    
Customer Deposits RUB bil     407 428 543 419 464    
Retail Deposits RUB bil     151 177 182 163 184    
Corporate Deposits RUB bil     161 184 220 194 148    
Issued Debt Securities RUB bil     91.7 92.2 115 414 220    
Other Liabilities RUB bil     20.6 8.88 8.91 20.9 53.3    
asset quality                  
Non-Performing Loans RUB bil     80.7 86.0 143 43.0 38.1    
Gross Loans RUB bil     517 601 654 789 877    
Total Provisions RUB bil ... ... ... 43.3 149 255 227    
growth rates                  
Customer Loan Growth % ...   46.9 8.05 -9.40 5.54 21.8    
Retail Loan Growth % ...   154 -19.8 -6.03 -1.62 37.0    
Mortgage Loan Growth % ...   78.5 -11.2 -4.33 -18.4 -8.90    
Consumer Loan Growth % ...   230 -24.4 -7.12 9.35 59.4    
Corporate Loan Growth % ...   46.9 25.2 12.0 24.4 9.13    
Total Asset Growth % ...   51.8 2.97 2.94 24.8 22.0    
Shareholders' Equity Growth % ...   39.2 24.9 -56.3 341 16.0    
Customer Deposit Growth % ...   15.9 5.29 26.9 -22.9 10.8    
Retail Deposit Growth % ...   19.4 17.4 2.34 -10.3 13.1    
Corporate Deposit Growth % ...   28.5 14.4 19.3 -11.6 -23.9    
market share                  
Market Share in Customer Loans %     3.13 3.46 2.61 2.15 2.17    
Market Share in Corporate Loans % ... ... ... ... 4.37 4.40 4.19    
Market Share in Retail Loans % ... ... 1.95 1.69 1.36 1.08 1.22    
Market Share in Consumer Loans %     2.20 1.98 1.63 1.18 1.16    
Market Share in Mortgage Loans % ... ... 2.89 2.72 2.33 1.45 0.979    
Market Share in Total Assets %     2.99 3.04 2.71 2.72 2.77    
Market Share in Customer Deposits %     4.36 3.70 3.88 2.38 2.26    
Market Share in Retail Deposits %     2.59 2.40 1.87 1.39 1.29    
Market Share in Corporate Deposits %     3.26 3.37 3.64 2.32 1.54    
ratios Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014
ratios                  
ROE %     12.0 0.943 -115 24.6 16.1    
ROA %     1.05 0.088 -8.33 2.58 2.41    
Costs (As % Of Assets) %     3.47 2.17 4.16 4.71 3.48    
Costs (As % Of Income) %     67.0 35.4 64.4 23.8 62.4    
Capital Adequacy Ratio %     13.9 18.2 8.10 33.6 14.0    
Tier 1 Ratio %     ... ... ... ... ... ... ...
Net Interest Margin %     4.27 3.85 4.73 2.49 3.36    
Interest Spread % ...   3.79 3.20 4.38 2.07 2.60    
Asset Yield %     9.27 10.1 9.22 6.17 7.66    
Cost Of Liabilities % ...   5.48 6.92 4.84 4.11 5.06    
Interest Income (As % Of Revenues) %     82.4 62.8 73.2 12.6 60.2    
Fee Income (As % Of Revenues) %     4.24 11.0 10.1 3.12 9.60    
Other Income (As % Of Revenues) %     13.4 26.2 16.7 84.2 30.2    
Cost Per Employee USD per month     2.37 1.87 2.54 2.79 2.84    
Cost Per Employee (Local Currency) RUB per month     58.9 59.4 77.2 82.0 88.1    
Staff Cost (As % Of Total Cost) %     34.4 42.1 27.2 22.2 33.4    
Equity (As % Of Assets) %     8.44 10.2 4.35 15.4 14.6    
Loans (As % Of Deposits) %     127 130 93.1 127 140    
Loans (As % Assets) %     64.5 67.6 59.5 50.4 50.3    
NPLs (As % Of Loans) %     15.6 14.3 21.9 5.45 4.34    
Provisions (As % Of NPLs) % ... ... ... 50.3 104 594 595    
Provisions (As % Of Loans) % ... ... ... 7.76 29.4 47.8 34.9    
Cost of Provisions (As % Of Loans) %     2.07 5.72 19.8 23.2 -2.54    
other data Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014
other data                  
Employees     11,233 10,420 10,258 10,139 12,926    

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BoM's npls (as % of loans) rose 26.3% to 2.87% in 2014

By Helgi Analytics - February 22, 2018

Bank Of Moscow's non-performing loans reached 2.87% of total loans at the end of 2014, up from 2.27% compared to the previous year. Historically, the NPL ratio hit an all time high of 21.9% in 2010 and an all time low of 2.27% in 2013. Provision coverage am...

BoM's customer deposits rose 2.63% to RUB 632 bil in 2014

By Helgi Analytics - September 5, 2018

Bank Of Moscow's customer deposits reached RUB 632 bil in 2014, up 2.63% compared to the previous year. Russian banking sector accepted customer deposits of RUB 31,430 bil in 2014, up 31.9% when compared to the last year. Bank Of Moscow accounted for 2.01...

BoM's consumer loans rose 38.9% to RUB 159 bil in 2014

By Helgi Analytics - November 29, 2018

Bank Of Moscow's consumer loans reached RUB 159 bil in 2014, up 38.9% compared to the previous year. Russian banking sector provided consumer loans of RUB 7,801 bil in 2014, up 6.74% when compared to the last year. Bank Of Moscow accounted for 2.14% of al...

BoM's corporate loans rose 19.3% to RUB 1,133 bil in 2014

By Helgi Analytics - March 6, 2018

Bank Of Moscow's loans reached RUB 1,377 bil in the 2014, up from RUB 1,122 bil compared to the previous year. Historically, the bank’s loans reached an all time high of RUB 1,377 bil in 2014 and an all time low of RUB 352 bil in 2007. In the last decad...

BoM's corporate deposits fell 6.89% to RUB 219 bil in 2014

By Helgi Analytics - November 29, 2018

Bank Of Moscow's corporate deposits reached RUB 219 bil in 2014, down 6.89% compared to the previous year. Russian banking sector accepted corporate deposits of RUB 17,008 bil in 2014, up 56.9% when compared to the last year. Bank Of Moscow accounted for ...

BoM's net interest income rose 4.34% to RUB 62.4 bil in 2014

By Helgi Analytics - March 7, 2018

Bank Of Moscow generated total banking revenues of RUB 96.6 bil in 2014, up 0.638% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of RUB 189 bil in 2011 and an ...

BoM's net profit fell 93.9% to RUB 2.30 bil in 2014

By Helgi Analytics - March 7, 2018

Bank Of Moscow made a net profit of RUB 2.30 bil under revenues of RUB 96.6 bil in 2014, up -93.9% and 0.638% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of RUB 37.7 bil in 2013 and an all time low of RUB -...

BoM's total revenues rose 0.638% to RUB 96.6 bil in 2014

By Helgi Analytics - September 5, 2018

Bank Of Moscow generated total banking revenues of RUB 96.6 bil in 2014, up 0.638% compared to the previous year. Russian banking sector banking sector generated total revenues of RUB 6,011,654 mil in 2014, up 32.7% when compared to the last year. ...

BoM's net interest margin fell 18.9% to 3.32% in 2014

By Helgi Analytics - February 23, 2018

Bank Of Moscow's net interest margin amounted to 3.32% in 2014, down from 4.09% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 4.73% in 2010 and an all time low of 2.49% in 2011. The average margi...

BoM's price/earnings (P/E) rose 1,732% to 98,632 in 2014

By Helgi Analytics - February 22, 2018

Bank Of Moscow stock traded at RUB 835 per share at the end 2014 implying a market capitalization of USD 3,735 mil. Since the end of 2009, the stock has appreciated by % implying an annual average growth of 0 %. In absolute terms, the value of the company rose ...

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The Bank Of Moscow is the 5th largest commercial bank in Russia. The Bank offers its financial services to more than 120,000 corporate and over 9 million retail clients. The products and services include bank accounts, debit & credit cards, currency exchange, deposit boxes, lending and investment services among others. The Bank has a network of 281 offices with more than 18,000 persons and covers all major Russian centers from St. Petersburg in the West to Vladivostok in the East. In 2011, following a hostile takeover by VTB Bank, USD 9 bil in fraudulent loans were discovered, and the bank received an unprecedented USD 14 bil bailout. The Bank was founded in 1992 and is based in Moscow, the Russian Federation.

Bank Of Moscow Logo

Finance

Bank Of Moscow has been growing its revenues and asset by 14.2% and 20.9% a year on average in the last 5 years. Its loans and deposits have grown by 14.5% and 8.10% a year during that time and loans to deposits ratio reached 174% at the end of 2014. The company achieved an average return on equity of -10.9% in the last five years with net profit growing 26.3% a year on average. In terms of operating efficiency, its cost to income ratio reached 59.9% in 2014, compared to 54.1% average in the last five years.

Equity represented 8.81% of total assets or 17.1% of loans at the end of 2014. Bank Of Moscow's non-performing loans were 2.87% of total loans while provisions covered some 710% of NPLs at the end of 2014.

Valuation

Bank Of Moscow stock traded at RUB 835 per share at the end of 2014 resulting in a market capitalization of USD 3,735 mil. Over the previous three years, stock price rose by 0% or 0% a year on average. That’s compared to an average ROE of 12.0% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 98,632x and price to book value (PBV) of 1,209x in 2014.