Commercial Bank Victoria

CBV's total revenues fell 42.4% to BGN 2.27 mil in 2017

By Helgi Analytics - September 20, 2018

Commercial Bank Victoria generated total banking revenues of BGN 2.27 mil in 2017, down 42.4% compared to the previous year. ...

CBV's customer deposits fell 0.958% to BGN 90.3 mil in 2017

By Helgi Analytics - September 3, 2018

Commercial Bank Victoria's customer deposits reached BGN 90.3 mil in 2017, down 0.958% compared to the previous year. Bulgarian...

CBV's customer loans fell 36.8% to BGN 27.5 mil in 2017

By Helgi Analytics - September 3, 2018

Commercial Bank Victoria's customer loans reached BGN 27.5 mil in 2017, down 36.8% compared to the previous year. Bulgarian ban...

Profit Statement 2015 2016 2017
Net Interest Income BGN mil 3.29 1.98 1.90
Fee Income (As % Of Revenues) % 4.40 4.57 7.49
Other Income BGN mil 2.20 1.79 0.201
Total Revenues BGN mil 5.75 3.94 2.27
Operating Profit BGN mil -4.75 -2.19 -3.28
Provisions BGN mil 4.58 1.04 1.84
Net Profit BGN mil -9.31 -5.57 -5.15
Balance Sheet 2015 2016 2017
Customer Loans BGN mil 59.4 43.5 27.5
Debt Securities BGN mil 11.3 12.3 12.8
Total Assets BGN mil 167 129 123
Shareholders' Equity BGN mil 10.9 36.3 31.6
Interbank Borrowing BGN mil 0 0 0
Customer Deposits BGN mil 155 91.2 90.3
Issued Debt Securities BGN mil 0 0 0
Ratios 2015 2016 2017
ROE % -58.0 -23.6 -15.2
ROA % -5.14 -3.77 -4.10
Costs (As % Of Assets) % 5.80 4.15 4.41
Costs (As % Of Income) % 183 156 244
Net Interest Margin % 1.82 1.34 1.51
Loans (As % Of Deposits) % 38.4 47.7 30.4
Growth Rates 2015 2016 2017
Total Revenue Growth % -54.3 -31.4 -42.4
Operating Cost Growth % -34.5 -41.5 -9.59
Operating Profit Growth % 37.5 -53.9 49.5
Net Profit Growth % -37.7 -40.1 -7.59
Customer Loan Growth % -51.6 -26.9 -36.8
Total Asset Growth % -14.3 -23.0 -4.35
Customer Deposit Growth % -9.23 -41.1 -0.958
Shareholders' Equity Growth % -48.3 232 -12.9

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summary Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Net Interest Income BGN mil         18.0 14.6 11.9 11.8 3.29    
Total Revenues BGN mil         20.6 17.9 14.5 12.6 5.75    
Operating Profit BGN mil         -0.548 -2.86 -3.95 -3.45 -4.75    
Net Profit BGN mil         -11.3 -17.3 -14.7 -14.9 -9.31    
balance sheet                      
Customer Loans BGN mil         460 338 297 123 59.4    
Debt Securities BGN mil         0.441 11.3 11.3 11.4 11.3    
Total Assets BGN mil         557 523 407 195 167    
Shareholders' Equity BGN mil         60.9 42.4 36.1 21.2 10.9    
Interbank Borrowing BGN mil         0 0 0 0 0    
Customer Deposits BGN mil         492 476 368 171 155    
Issued Debt Securities BGN mil         0 0 0 0 0    
ratios                      
ROE %         -18.7 -33.5 -37.3 -52.2 -58.0    
ROA %         -2.02 -3.20 -3.15 -4.96 -5.14    
Costs (As % Of Assets) %         3.79 3.85 3.96 5.32 5.80    
Costs (As % Of Income) %         103 116 127 127 183    
Net Interest Margin %         3.23 2.70 2.56 3.91 1.82    
Interest Income (As % Of Revenues) %         87.5 81.3 82.4 93.7 57.3    
Fee Income (As % Of Revenues) %         9.60 11.9 14.0 8.50 4.40    
Equity (As % Of Assets) %         10.9 8.12 8.85 10.9 6.55    
Loans (As % Of Deposits) %         93.6 71.1 80.7 72.0 38.4    
Loans (As % Assets) %         82.7 64.7 72.8 63.0 35.6    
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Interest Income BGN mil         31.8 24.6 22.4 16.8 5.18    
Interest Cost BGN mil         13.8 10.0 10.4 5.06 1.89    
Net Interest Income BGN mil         18.0 14.6 11.9 11.8 3.29    
Net Fee Income BGN mil         1.98 2.13 2.03 1.07 0.253    
Other Income BGN mil         0.606 1.22 0.526 -0.272 2.20    
Total Revenues BGN mil         20.6 17.9 14.5 12.6 5.75    
Depreciation BGN mil         2.50 2.20 2.08 1.85 0.970    
Operating Cost BGN mil         21.1 20.8 18.4 16.0 10.5    
Operating Profit BGN mil         -0.548 -2.86 -3.95 -3.45 -4.75    
Provisions BGN mil         10.7 14.5 10.8 9.45 4.58    
Extra and Other Cost BGN mil         -0.020 -0.015 -0.022 2.03 -0.014    
Pre-Tax Profit BGN mil         -11.3 -17.3 -14.7 -14.9 -9.32    
Tax BGN mil         -0.010 -0.022 -0.031 0.005 -0.010    
Minorities BGN mil         0 0 0 0 0    
Net Profit BGN mil         -11.3 -17.3 -14.7 -14.9 -9.31    
growth rates                      
Net Interest Income Growth % ...       -17.4 -19.2 -18.1 -1.36 -72.0    
Net Fee Income Growth % ...       16.7 7.94 -4.97 -47.4 -76.3    
Total Revenue Growth % ...       -17.1 -13.0 -19.2 -13.3 -54.3    
Operating Cost Growth % ...       0.318 -1.78 -11.3 -13.1 -34.5    
Operating Profit Growth % ...       -115 422 38.1 -12.6 37.5    
Pre-Tax Profit Growth % ...       52.3 53.7 -15.1 1.68 -37.6    
Net Profit Growth % ...       52.7 53.6 -15.2 1.93 -37.7    
market share                      
Market Share in Revenues %         0.524 0.469 0.391 0.322 0.139    
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                      
Cash BGN mil         56.2 132 60.8 27.1 59.4    
Customer Loans BGN mil         460 338 297 123 59.4    
Debt Securities BGN mil         0.441 11.3 11.3 11.4 11.3    
Fixed Assets BGN mil         35.2 13.8 11.5 9.32 8.28    
Total Assets BGN mil         557 523 407 195 167    
Shareholders' Equity BGN mil         60.9 42.4 36.1 21.2 10.9    
Of Which Minority Interest BGN mil         0 0 0 0 0    
Liabilities BGN mil         496 480 371 174 156    
Interbank Borrowing BGN mil         0 0 0 0 0    
Customer Deposits BGN mil         492 476 368 171 155    
Issued Debt Securities BGN mil         0 0 0 0 0    
Other Liabilities BGN mil         0 0 0 0 0    
growth rates                      
Customer Loan Growth % ...       2.50 -26.4 -12.4 -58.6 -51.6    
Total Asset Growth % ...       -0.452 -6.08 -22.1 -52.2 -14.3    
Shareholders' Equity Growth % ...       2.71 -30.3 -15.0 -41.3 -48.3    
Customer Deposit Growth % ...       -0.907 -3.16 -22.8 -53.6 -9.23    
market share                      
Market Share in Customer Loans %         0.849 0.608 0.531 0.238 0.117    
Market Share in Total Assets %         0.926 0.810 0.584 0.278 0.219    
Market Share in Customer Deposits %         0.920 0.822 0.585 0.266 0.232    
ratios Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                      
ROE %         -18.7 -33.5 -37.3 -52.2 -58.0    
ROA %         -2.02 -3.20 -3.15 -4.96 -5.14    
Costs (As % Of Assets) %         3.79 3.85 3.96 5.32 5.80    
Costs (As % Of Income) %         103 116 127 127 183    
Net Interest Margin %         3.23 2.70 2.56 3.91 1.82    
Interest Spread % ...       2.93 2.50 2.36 3.73 1.72    
Asset Yield %         5.70 4.56 4.81 5.59 2.87    
Cost Of Liabilities % ...       2.77 2.06 2.45 1.86 1.15    
Interest Income (As % Of Revenues) %         87.5 81.3 82.4 93.7 57.3    
Fee Income (As % Of Revenues) %         9.60 11.9 14.0 8.50 4.40    
Other Income (As % Of Revenues) %         2.94 6.82 3.63 -2.17 38.3    
Equity (As % Of Assets) %         10.9 8.12 8.85 10.9 6.55    
Loans (As % Of Deposits) %         93.6 71.1 80.7 72.0 38.4    
Loans (As % Assets) %         82.7 64.7 72.8 63.0 35.6    
Cost of Provisions (As % Of Loans) %         2.36 3.62 3.39 4.50 5.03    

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CBV's net interest margin rose 13.0% to 1.51% in 2017

By Helgi Analytics - September 3, 2018

Commercial Bank Victoria's net interest margin amounted to 1.51% in 2017, up from 1.34% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 4.18% in 2010 and an all time low of 1.34% in 2016. The avera...

CBV's net profit rose 7.59% to BGN -5.15 mil in 2017

By Helgi Analytics - September 3, 2018

Commercial Bank Victoria made a net profit of BGN -5.15 mil under revenues of BGN 2.27 mil in 2017, up 7.59% and -42.4% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of BGN -1.37 mil in 2007 and an all time low o...

CBV's net interest income fell 3.85% to BGN 1.90 mil in 2017

By Helgi Analytics - September 3, 2018

Commercial Bank Victoria generated total banking revenues of BGN 2.27 mil in 2017, down 42.4% 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 BGN 24.9 mil in ...

CBV's customer loan growth fell 36.9% to -36.8% in 2017

By Helgi Analytics - September 3, 2018

Commercial Bank Victoria's customer loan growth reached -36.8% in 2017, down from -26.9% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 105% in 2008 and an all time low of -58.6% in 2014. In the last decad...

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Finance

Commercial Bank Victoria has been growing its revenues and asset by -43.5% and -14.2% a year on average in the last 3 years. Its loans and deposits have grown by -39.3% and -19.1% a year during that time and loans to deposits ratio reached 30.4% at the end of 2017. The company achieved an average return on equity of -32.3% in the last three years with net profit growing -29.9% a year on average. In terms of operating efficiency, its cost to income ratio reached 244% in 2017, compared to 194% average in the last three years.

Equity represented 25.7% of total assets or 115% of loans at the end of 2017. Commercial Bank Victoria's non-performing loans were of total loans while provisions covered some of NPLs at the end of 2017.