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Credit Bank of Moscow

Credit Bank of Moscow's net profit rose 6,761% yoy to RUB 12,940 mil in 4Q2020

By Helgi Analytics - March 24, 2021

Credit Bank of Moscow made a net profit of RUB 12,940 mil under revenues of RUB 24,111 mil in the fourth quarter of 2020, up 6% and ...

Credit Bank of Moscow's net interest margin fell 0.287% yoy to 2.28% in 4Q2020

By Helgi Analytics - March 24, 2021

Credit Bank of Moscow's net interest margin amounted to 2.28% in the fourth quarter of 2020, up from 2.11% when compared to the ...

Credit Bank of Moscow's customer deposits rose 13.1% yoy to RUB 1,084,320 mil in 3Q2018

By Helgi Analytics - March 24, 2021

Credit Bank of Moscow's customer deposits reached RUB 1,084,320 mil in 2018-09-30, up 12.8% compared to the previous year. Russ...

Profit Statement 2018 2019 2020
Net Interest Income RUB mil 48,415 45,283 59,248
Net Fee Income RUB mil 12,346 11,534 15,438
Other Income RUB mil 1,696 -12,447 7,677
Total Revenues RUB mil 62,457 44,370 82,363
Staff Cost RUB mil 12,290 14,167 13,877
Operating Profit RUB mil 40,680 26,140 60,996
Provisions RUB mil 2,221 6,821 18,908
Net Profit RUB mil 27,150 12,231 30,463
Balance Sheet 2018 2019 2020
Interbank Loans RUB mil 1,204,760 400,834 824,560
Customer Loans RUB mil 709,045 788,655 1,009,160
Investments RUB mil 93,327 237,198 320,047
Total Assets RUB mil 2,145,930 2,423,500 2,916,460
Shareholders' Equity RUB mil 191,173 210,432 234,496
Interbank Borrowing RUB mil 561,196 680,698 734,928
Customer Deposits RUB mil 1,242,110 1,339,540 1,737,230
Issued Debt Securities RUB mil 127,104 168,549 171,465
Ratios 2018 2019 2020
ROE % 14.7 6.09 13.7
ROA % 1.35 0.535 1.14
Costs (As % Of Assets) % 1.08 0.798 0.800
Costs (As % Of Income) % 34.9 41.1 25.9
Capital Adequacy Ratio % 21.9 21.2 ...
Net Interest Margin % 2.40 1.98 2.22
Loans (As % Of Deposits) % 57.1 58.9 58.1
NPLs (As % Of Loans) % 1.62 3.58 ...
Provisions (As % Of NPLs) % 260 137 ...
Valuation 2018 2019 2020
Market Capitalisation USD mil 2,019 2,605 2,470
Number Of Shares mil 27,080 27,487 29,830
Share Price RUB 5.17 5.88 6.14
Price/Earnings (P/E) 5.16 13.2 6.02
Price/Book Value (P/BV) 0.732 0.768 0.781
Dividend Yield % 2.13 ... ...
Earnings Per Share (EPS) RUB 1.00 0.445 1.02
Book Value Per Share RUB 7.06 7.66 7.86
Dividend Per Share RUB 0.110 ... ...

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summary Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                              
Net Interest Income RUB mil                 25,808 29,289 40,299 45,280 48,415    
Total Revenues RUB mil                 30,594 41,652 61,904 64,953 62,457    
Operating Profit RUB mil                 20,654 30,013 46,170 47,530 40,680    
Net Profit RUB mil                 5,708 1,761 11,198 20,855 27,150    
balance sheet                              
Interbank Loans RUB mil                 7,019 282,066 449,661 882,926 1,204,760    
Customer Loans RUB mil                 378,014 593,065 626,535 768,676 709,045    
Investments RUB mil ... ... ...           61,550 155,521 82,414 74,496 93,327    
Total Assets RUB mil                 584,839 1,208,200 1,567,970 1,888,190 2,145,930    
                                 
Shareholders' Equity RUB mil                 59,988 92,339 103,401 177,589 191,173    
Interbank Borrowing RUB mil                 65,897 88,705 628,794 636,474 561,196    
Customer Deposits RUB mil                 334,852 898,692 689,496 915,624 1,242,110    
Issued Debt Securities RUB mil                 118,621 121,155 137,203 145,767 127,104    
ratios                              
ROE % ...               10.3 2.31 11.4 14.8 14.7    
ROA % ...               1.10 0.196 0.807 1.21 1.35    
Costs (As % Of Assets) % ...               1.91 1.30 1.13 1.01 1.08    
Costs (As % Of Income) %                 32.5 27.9 25.4 26.8 34.9    
Capital Adequacy Ratio %   ...             15.8 16.5 14.7 23.4 21.9   ...
Net Interest Margin % ...               4.97 3.27 2.90 2.62 2.40    
Interest Income (As % Of Revenues) %                 84.4 70.3 65.1 69.7 77.5    
Fee Income (As % Of Revenues) %                 23.8 18.4 18.0 19.3 19.8    
Staff Cost (As % Of Total Cost) %                 53.7 47.4 48.9 54.6 56.4    
Equity (As % Of Assets) %                 10.3 7.64 6.59 9.41 8.91    
Loans (As % Of Deposits) %                 113 66.0 90.9 84.0 57.1    
Loans (As % Assets) %                 64.6 49.1 40.0 40.7 33.0    
NPLs (As % Of Loans) % ... ...             2.30 5.15 2.29 2.41 1.62   ...
Provisions (As % Of NPLs) % ... ...             178 114 263 254 260   ...
valuation                              
Market Capitalisation USD mil ... ... ... ... ... ... ... ... ... 1,244 1,677 2,231 2,019    
Number Of Shares mil ...               14,468 17,430 23,880 24,450 27,080    
Share Price RUB ... ... ... ... ... ... ... ... ... 3.80 4.30 4.74 5.17    
Earnings Per Share (EPS) RUB ...               0.395 0.101 0.469 0.853 1.00    
Book Value Per Share RUB ...               4.15 5.30 4.33 7.26 7.06    
Dividend Per Share RUB ... ... ...           0 0 0 0 0.110 ... ...
Price/Earnings (P/E) ... ... ... ... ... ... ... ... ... 37.6 9.17 5.56 5.16    
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... ... 0.717 0.993 0.653 0.732    
Dividend Yield % ... ... ... ... ... ... ... ... ... 0 0 0 2.13 ... ...
Earnings Per Share Growth % ... ...             -42.8 -74.4 364 81.9 17.5    
Book Value Per Share Growth % ... ...             7.43 27.8 -18.3 67.7 -2.81    
income statement Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                              
Interest Income RUB mil                 58,109 89,211 113,398 126,959 137,933    
Interest Cost RUB mil                 32,301 59,922 73,099 81,679 89,518    
Net Interest Income RUB mil                 25,808 29,289 40,299 45,280 48,415    
Net Fee Income RUB mil                 7,285 7,651 11,147 12,508 12,346    
Fee Income RUB mil                 9,102 9,369 13,394 15,510 15,829    
Fee Expense RUB mil                 1,818 1,718 2,247 3,002 3,483    
Other Income RUB mil                 -2,498 4,712 10,458 7,165 1,696    
Total Revenues RUB mil                 30,594 41,652 61,904 64,953 62,457    
Staff Cost RUB mil                 5,335 5,519 7,700 9,516 12,290    
Depreciation RUB mil ... ...             530 618 1,481 1,863 1,051    
Other Cost RUB mil ... ...             4,075 5,502 6,553 6,044 8,436    
Operating Cost RUB mil                 9,940 11,639 15,734 17,423 21,777    
Operating Profit RUB mil                 20,654 30,013 46,170 47,530 40,680    
Provisions RUB mil                 11,645 26,036 29,783 18,597 2,221    
Extra and Other Cost RUB mil                 1,818 1,718 2,247 1,926 3,483    
Pre-Tax Profit RUB mil                 7,191 2,259 14,140 27,007 34,976    
Tax RUB mil                 1,483 498 2,942 6,152 7,826    
Minorities RUB mil                 0 0 0 0 0    
Net Profit RUB mil                 5,708 1,761 11,198 20,855 27,150    
Net Profit Avail. to Common RUB mil                 5,708 1,761 11,198 20,855 27,150    
Dividends RUB mil ... ... ...           0 0 0 0 2,979 ... ...
growth rates                              
Net Interest Income Growth % ...               48.5 13.5 37.6 12.4 6.92    
Net Fee Income Growth % ...               13.4 5.04 45.7 12.2 -1.30    
Total Revenue Growth % ...               18.5 36.1 48.6 4.93 -3.84    
Operating Cost Growth % ...               22.4 17.1 35.2 10.7 25.0    
Operating Profit Growth % ...               16.8 45.3 53.8 2.95 -14.4    
Pre-Tax Profit Growth % ...               -37.0 -68.6 526 91.0 29.5    
Net Profit Growth % ...               -36.9 -69.1 536 86.2 30.2    
market share                              
Market Share in Revenues %                 0.509 0.623 0.472 0.596 ... ... ...
Market Share in Net Profit %                 1.17 2.07 1.71 4.14 ... ... ...
Market Share in Branches %   ... ...           0.139 0.168 0.268 0.303 ... ... ...
balance sheet Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
balance sheet                              
Cash & Cash Equivalents RUB mil                 122,057 143,951 380,613 99,916 116,874    
Interbank Loans RUB mil                 7,019 282,066 449,661 882,926 1,204,760    
Customer Loans RUB mil                 378,014 593,065 626,535 768,676 709,045    
Retail Loans RUB mil ...               128,273 119,733 100,570 87,711 96,602    
Mortgage Loans RUB mil ... ... ...           19,665 21,559 23,861 20,319 20,679    
Consumer Loans RUB mil ... ... ...           108,607 98,174 76,709 67,392 75,923    
Corporate Loans RUB mil ...               265,918 510,206 566,168 731,105 643,529    
Investments RUB mil ... ... ...           61,550 155,521 82,414 74,496 93,327    
Property and Equipment RUB mil                 7,399 7,004 21,278 7,866 7,182    
Intangible Assets RUB mil ... ... ...           443 355 314 484 417    
Goodwill RUB mil ... ... ...           301 0 0 0 0    
Total Assets RUB mil                 584,839 1,208,200 1,567,970 1,888,190 2,145,930    
                                 
Shareholders' Equity RUB mil                 59,988 92,339 103,401 177,589 191,173    
Of Which Minority Interest RUB mil                 0 0 0 0 0    
Liabilities RUB mil                 524,852 1,115,860 1,464,570 1,710,600 1,954,750    
Interbank Borrowing RUB mil                 65,897 88,705 628,794 636,474 561,196    
Customer Deposits RUB mil                 334,852 898,692 689,496 915,624 1,242,110    
Sight Deposits RUB mil ...               29,810 37,714 54,601 116,669 52,885    
Term Deposits RUB mil ...               305,042 839,093 616,622 ... ... ... ...
Issued Debt Securities RUB mil                 118,621 121,155 137,203 145,767 127,104    
Other Liabilities RUB mil                 5,481 7,311 9,075 12,737 24,344    
asset quality                              
Non-Performing Loans RUB mil ... ...             9,068 32,439 15,269 19,761 11,954   ...
Gross Loans RUB mil ...               394,191 629,939 666,738 818,816 740,131    
Risk-Weighted Assets RUB mil ... ...             527,038 986,281 1,085,390 1,174,570 1,358,380   ...
Total Provisions RUB mil ...               16,176 36,874 40,203 50,140 31,086    
growth rates                              
Customer Loan Growth % ...               22.4 56.9 5.64 22.7 -7.76    
Retail Loan Growth % ... ...             31.1 -6.66 -16.0 -12.8 10.1    
Mortgage Loan Growth % ... ... ... ...         25.4 9.63 10.7 -14.8 1.77    
Consumer Loan Growth % ... ... ... ...         32.2 -9.61 -21.9 -12.1 12.7    
Corporate Loan Growth % ... ...             20.9 91.9 11.0 29.1 -12.0    
Total Asset Growth % ...               28.8 107 29.8 20.4 13.6    
Shareholders' Equity Growth % ...               18.4 53.9 12.0 71.7 7.65    
Customer Deposit Growth % ...               21.8 168 -23.3 32.8 35.7    
market share                              
Market Share in Customer Loans %                 0.832 1.21 1.34 1.58 1.27 ... ...
Market Share in Corporate Loans % ... ... ... ...         0.971 1.68 2.07 2.69 ... ... ...
Market Share in Retail Loans % ... ... ...           1.39 1.46 1.21 0.965 ... ... ...
Market Share in Consumer Loans % ...               1.13 1.12 0.931 0.720 ... ... ...
Market Share in Mortgage Loans % ... ... ...           0.557 0.541 0.531 0.392 ... ... ...
Market Share in Total Assets %                 0.801 1.57 2.12 2.43 2.55 ... ...
Market Share in Customer Deposits %                 1.07 2.40 1.96 2.44 2.96 ... ...
ratios Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                               
ROE % ...               10.3 2.31 11.4 14.8 14.7    
ROTE % ... ... ... ...         10.4 2.32 11.5 14.9 14.8    
ROE (@ 15% of RWA) % ... ... ...           7.80 1.55 7.21 12.3 14.3   ...
ROA % ...               1.10 0.196 0.807 1.21 1.35    
Return on Loans % ...               1.66 0.363 1.84 2.99 3.67    
Operating Profit (As % of RWA) % ... ... ...           4.23 3.97 4.46 4.21 3.21   ...
Costs (As % Of Assets) % ...               1.91 1.30 1.13 1.01 1.08    
Costs (As % Of Income) %                 32.5 27.9 25.4 26.8 34.9    
Costs (As % Of Loans) % ...               2.89 2.40 2.58 2.50 2.95    
Costs (As % Of Loans & Deposits) % ...               1.53 1.06 1.12 1.16 1.20    
Capital Adequacy Ratio %   ...             15.8 16.5 14.7 23.4 21.9   ...
Tier 1 Ratio % ...               10.5 9.20 9.40 15.0 14.1   ...
Net Interest Margin % ...               4.97 3.27 2.90 2.62 2.40    
Interest Spread % ...               4.23 2.65 2.50 2.20 1.95    
Asset Yield % ...               11.2 9.95 8.17 7.35 6.84    
Revenues (As % of RWA) % ... ... ...           6.27 5.50 5.98 5.75 4.93   ...
Cost Of Liabilities % ...               6.96 7.30 5.67 5.14 4.88    
Payout Ratio % ... ... ...           0 0 0 0 11.0 ... ...
Interest Income (As % Of Revenues) %                 84.4 70.3 65.1 69.7 77.5    
Fee Income (As % Of Revenues) %                 23.8 18.4 18.0 19.3 19.8    
Other Income (As % Of Revenues) %                 -8.17 11.3 16.9 11.0 2.72    
Staff Cost (As % Of Total Cost) %                 53.7 47.4 48.9 54.6 56.4    
Equity (As % Of Assets) %                 10.3 7.64 6.59 9.41 8.91    
Equity (As % Of Loans) %                 15.9 15.6 16.5 23.1 27.0    
Loans (As % Of Deposits) %                 113 66.0 90.9 84.0 57.1    
Loans (As % Assets) %                 64.6 49.1 40.0 40.7 33.0    
NPLs (As % Of Loans) % ... ...             2.30 5.15 2.29 2.41 1.62   ...
Provisions (As % Of NPLs) % ... ...             178 114 263 254 260   ...
Provisions (As % Of Loans) % ...               4.28 6.22 6.42 6.52 4.38    
Cost of Provisions (As % Of Loans) % ...               3.39 5.36 4.88 2.67 0.301    
other data Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                               
Branches   ... ...           58.0 62.0 91.0 100 132   ...
ATMs ... ... ... ... ... ... ... ... ... ... ... 1,143 1,204   ...
ATMs (As % of Bank Branches) % ... ... ... ... ... ... ... ... ... ... ... 1,143 912   ...
Employees   ... ... ... ... ... ... ... ... ... 4,804 ... ... ... ...
Employees Per Bank Branch   ... ... ... ... ... ... ... ... ... 52.8 ... ... ... ...
Cost Per Employee USD per month   ... ... ... ... ... ... ... ... ... 2,001 ... ... ... ...
Cost Per Employee (Local Currency) RUB per month   ... ... ... ... ... ... ... ... ... 133,575 ... ... ... ...
customer breakdown Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                               
Customers mil ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
                                 
Market Value per Customer (Local Currency) RUB ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Revenue per Customer (Local Currency) RUB ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Net Profit per Customer (Local Currency) RUB ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Loan per Customer (Local Currency) RUB ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Deposit per Customer (Local Currency) RUB ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Market Value per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Revenue per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Net Profit per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Loan per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Deposit per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ...  

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Credit Bank of Moscow's customer loans fell 15.6% yoy to RUB 660,860 mil in 3Q2018

By Helgi Analytics - March 24, 2021

Credit Bank of Moscow's customer loans reached RUB 660,860 mil in 2018-09-30, down 0.899% compared to the previous year. Russian banking sector provided customer loans of RUB 54,055 bil in 2018-09-30, up 5.04% when compared to the last year. Credit Bank o...

Credit Bank of Moscow's corporate loans rose 28.7% yoy to RUB 925,838 mil in 4Q2020

By Helgi Analytics - March 24, 2021

Credit Bank of Moscow's loans reached RUB 1,059,140 mil in the fourth quarter of 2020, up from RUB 1,011,670 mil when compared to the previous quarter and up from RUB 829,195 mil when compared to the same period of last year. Historically, the bank’...

Credit Bank of Moscow's mortgage loans fell 3.13% yoy to RUB 20,223 mil in 2Q2018

By Helgi Analytics - March 24, 2021

Credit Bank of Moscow's mortgage loans reached RUB 20,223 mil in 2018-06-30, up 0.667% compared to the previous year. Russian banking sector provided mortgage loans of RUB 5,758 bil in 2018-06-30, up 5.21% when compared to the last year. Credit Bank of Mo...

Credit Bank of Moscow's npls (as % of loans) fell 16.1% yoy to 3.09% in 3Q2020

By Helgi Analytics - March 24, 2021

Credit Bank of Moscow's non-performing loans reached 3.09% of total loans at the end of 2020-09-30, down from 3.69% compared to the previous year. Historically, the NPL ratio hit an all time high of 5.37% in 2016-03-31 and an all time low of 0.863% in 2011-09-30....

Credit Bank of Moscow's net interest income rose 27.0% yoy to RUB 16,707 mil in 4Q2020

By Helgi Analytics - March 24, 2021

Credit Bank of Moscow generated total banking revenues of RUB 24,111 mil in the fourth quarter of 2020, up 105% when compared to the same period of last year and 22.2% when compared to the previous quarter. Historically, the bank’s revenues containing of inte...

Credit Bank of Moscow's retail loans fell 1.05% yoy to RUB 93,788 mil in 3Q2018

By Helgi Analytics - March 24, 2021

Credit Bank of Moscow's retail loans reached RUB 93,788 mil in the third quarter of 2018, up 4.53% compared to the previous year. Russian banking sector provided retail loans of RUB 14,482 bil in 3Q2018, up 6.39% when compared to the last year. Credit Ban...

Credit Bank of Moscow's capital adequacy ratio fell 9.90% yoy to 18.2% in 3Q2020

By Helgi Analytics - March 24, 2021

Credit Bank of Moscow's capital adequacy ratio reached 18.2% at the end of third quarter of 2020, down from 19.8% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 24.9% in 1Q2018 and an all time low of 11.0% in 4...

Credit Bank of Moscow's consumer loans fell 8.59% yoy to RUB 69,503 mil in 2Q2018

By Helgi Analytics - March 24, 2021

Credit Bank of Moscow's consumer loans reached RUB 69,503 mil in 2018-06-30, up 3.75% compared to the previous year. Russian banking sector provided consumer loans of RUB 7,855 bil in 2018-06-30, up 5.92% when compared to the last year. Credit Bank of Mos...

Credit Bank of Moscow's retail loan growth rose 44.7% yoy to 19.8% in 4Q2020

By Helgi Analytics - March 24, 2021

Credit Bank of Moscow's retail loans reached RUB 131,625 mil at the end of 2020-12-31, up 10.4% compared to the previous year. In the last decade, the average annual loan growth amounted to 0%. Overall, retail loans accounted for 13.0% of the bank's loan bo...

Credit Bank of Moscow's customer loan growth rose 149% yoy to 28.0% in 4Q2020

By Helgi Analytics - March 24, 2021

Credit Bank of Moscow's customer loan growth reached 28.0% in 2020-12-31, up from 11.2% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 56.9% in 2015-12-31 and an all time low of -15.6% in 2018-09-30. In th...

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Finance

Credit Bank of Moscow has been growing its revenues and asset by 25.3% and 33.2% a year on average in the last 10 years. Its loans and deposits have grown by 25.5% and 33.9% a year during that time and loans to deposits ratio reached 58.1% at the end of 2020. The company achieved an average return on equity of 13.1% in the last decade with net profit growing 26.0% a year on average. In terms of operating efficiency, its cost to income ratio reached 25.9% in 2020, compared to 33.4% average in the last decade.

Equity represented 8.04% of total assets or 23.2% of loans at the end of 2020. Credit Bank of Moscow's non-performing loans were of total loans while provisions covered some of NPLs at the end of 2020.

Valuation

Credit Bank of Moscow stock traded at per share at the end of 2020 resulting in a market capitalization of . Over the previous three years, stock price rose by 0% or 0% a year on average. That’s compared to an average ROE of 11.5% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 6.02x and price to book value (PBV) of 0.781x in 2020.