Otkritie Financial Corporation Bank

OFCB's npls (as % of loans) fell 27.0% to 23.2% in 2018

By Helgi Analytics - November 05, 2019

Otkritie Financial Corporation Bank's non-performing loans reached 23.2% of total loans at the end of 2018, down from 31.8% compa...

OFCB's net profit rose 108% to RUB 35.1 bil in 2018

By Helgi Analytics - November 05, 2019

Otkritie Financial Corporation Bank made a net profit of RUB 35.1 bil under revenues of RUB 107 bil in 2018, up 108% and 64.2% respec...

OFCB's net profit rose 108% to RUB 35.1 bil in 2018

By Helgi Analytics - November 05, 2019

Otkritie Financial Corporation Bank made a net profit of RUB 35.1 bil under revenues of RUB 107 bil in 2018, up 108% and 64.2% respec...

Profit Statement 2016 2017 2018
Net Interest Income RUB bil 34.8 46.0 73.2
Fee Income (As % Of Revenues) % 11.1 24.8 15.4
Other Income RUB bil 68.0 3.03 17.2
Total Revenues RUB bil 116 65.1 107
Staff Cost RUB bil 21.4 22.1 31.1
Operating Profit RUB bil 67.1 3.33 23.9
Provisions RUB bil 36.7 457 2.76
Net Profit RUB bil 3.59 -426 35.1
Balance Sheet 2016 2017 2018
Interbank Loans RUB bil 151 203 298
Customer Loans RUB bil 1,829 716 523
Debt Securities RUB bil 454 1,159 1,028
Total Assets RUB bil 2,703 2,515 2,199
Shareholders' Equity RUB bil 232 151 316
Interbank Borrowing RUB bil 1,060 621 253
Customer Deposits RUB bil 1,187 870 854
Issued Debt Securities RUB bil 155 61.5 70.8
Ratios 2016 2017 2018
ROE % 1.60 -222 15.0
ROA % 0.118 -16.3 1.49
Costs (As % Of Assets) % 1.60 2.37 3.52
Costs (As % Of Income) % 42.0 94.9 77.6
Capital Adequacy Ratio % 17.4 4.25 13.1
Net Interest Margin % 1.15 1.76 3.10
Loans (As % Of Deposits) % 154 82.3 61.2
NPLs (As % Of Loans) % 8.57 31.8 23.2
Provisions (As % Of NPLs) % 65.5 103 95.4
Growth Rates 2016 2017 2018
Total Revenue Growth % 13.0 -43.7 64.2
Operating Cost Growth % 8.63 27.2 34.3
Operating Profit Growth % 16.4 -95.0 620
Net Profit Growth % -72.0 -11,962 -108
Customer Loan Growth % -28.7 -60.8 -27.0
Total Asset Growth % -19.6 -6.94 -12.6
Customer Deposit Growth % -5.46 -26.7 -1.82
Shareholders' Equity Growth % 7.39 -34.7 108
Employees 16,904 17,000 ...

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summary Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                            
Net Interest Income RUB bil ... ... ... ... ... ...                   31.4 40.7 65.6 49.9 34.8    
Total Revenues RUB bil ... ... ... ... ... ...                   44.5 53.2 80.6 102 116    
Operating Profit RUB bil ... ... ... ... ... ...                   23.1 30.4 29.2 57.7 67.1    
Net Profit RUB bil ... ... ... ... ... ...                   12.6 14.9 7.08 12.8 3.59    
balance sheet                                            
Interbank Loans RUB bil ... ... ... ... ... ...                   112 24.7 35.7 62.9 151    
Customer Loans RUB bil ... ... ... ... ... ...                   591 879 1,785 2,566 1,829    
Debt Securities RUB bil ... ... ... ... ... ...                   121 236 364 478 454    
Total Assets RUB bil                               900 1,379 2,596 3,364 2,703    
Shareholders' Equity RUB bil ... ... ... ... ... ...                   90.4 139 158 216 232    
Interbank Borrowing RUB bil ... ... ... ... ... ...                   214 257 1,042 1,631 1,060    
Customer Deposits RUB bil ... ... ... ... ... ...                   472 781 1,023 1,256 1,187    
Issued Debt Securities RUB bil ... ... ... ... ... ...                   115 189 306 233 155    
ratios                                            
ROE % ... ... ... ... ... ...                   15.1 13.0 4.76 6.87 1.60    
ROA % ... ... ... ... ... ...                   1.61 1.31 0.356 0.431 0.118    
Costs (As % Of Assets) % ... ... ... ... ... ...                   2.74 2.00 2.59 1.50 1.60    
Costs (As % Of Income) % ... ... ... ... ... ...                   48.1 42.8 63.8 43.6 42.0    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ... ...         16.3 14.4 12.4 15.7 17.4    
Net Interest Margin % ... ... ... ... ... ...                   4.02 3.57 3.30 1.68 1.15    
Interest Income (As % Of Revenues) % ... ... ... ... ... ...                   70.6 76.5 81.4 48.8 30.1    
Fee Income (As % Of Revenues) % ... ... ... ... ... ...                   17.8 16.9 16.4 11.4 11.1    
Staff Cost (As % Of Total Cost) % ... ... ... ... ... ... ... ... ... ... ...         54.5 53.4 35.8 46.1 44.1    
Equity (As % Of Assets) % ... ... ... ... ... ...                   10.0 10.1 6.08 6.42 8.58    
Loans (As % Of Deposits) % ... ... ... ... ... ...                   125 113 174 204 154    
Loans (As % Assets) % ... ... ... ... ... ...                   65.6 63.8 68.8 76.3 67.7    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ... ... ...         3.98 2.88 2.63 5.05 8.57    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... ... ...         89.8 125 84.3 70.3 65.5    
income statement Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                            
Interest Income RUB bil ... ... ... ... ... ...                   66.7 97.8 152 240 209    
Interest Cost RUB bil ... ... ... ... ... ...                   35.2 57.1 86.6 190 174    
Net Interest Income RUB bil ... ... ... ... ... ...                   31.4 40.7 65.6 49.9 34.8    
Net Fee Income RUB bil ... ... ... ... ... ...                   7.94 8.99 13.2 11.7 12.9    
Other Income RUB bil ... ... ... ... ... ...                   5.15 3.49 1.79 40.8 68.0    
Total Revenues RUB bil ... ... ... ... ... ...                   44.5 53.2 80.6 102 116    
Staff Cost RUB bil ... ... ... ... ... ... ... ... ... ... ...         11.7 12.1 18.4 20.6 21.4    
Depreciation RUB bil ... ... ... ... ... ...       ... ...         0.796 1.57 2.57 3.00 2.89    
Other Cost RUB bil ... ... ... ... ... ...                   8.93 9.04 30.5 21.1 24.3    
Operating Cost RUB bil ... ... ... ... ... ...                   21.4 22.8 51.4 44.7 48.5    
Operating Profit RUB bil ... ... ... ... ... ...                   23.1 30.4 29.2 57.7 67.1    
Provisions RUB bil ... ... ... ... ... ...                   5.89 9.39 21.8 49.2 36.7    
Extra and Other Cost RUB bil ... ... ... ... ... ...                   -1.03 -1.13 0 0 28.1    
Pre-Tax Profit RUB bil ... ... ... ... ... ...                   18.3 22.2 7.32 8.47 2.26    
Tax RUB bil ... ... ... ... ... ...                   3.24 4.89 1.86 2.06 0.760    
Minorities RUB bil ... ... ... ... ... ...                   2.44 2.40 -1.20 -6.23 -2.09    
Net Profit RUB bil ... ... ... ... ... ...                   12.6 14.9 7.08 12.8 3.59    
growth rates                                            
Net Interest Income Growth % ... ... ... ... ... ... ...                 11.9 29.7 61.1 -23.9 -30.3    
Net Fee Income Growth % ... ... ... ... ... ... ...                 30.4 13.2 46.8 -11.6 10.3    
Total Revenue Growth % ... ... ... ... ... ... ...                 21.2 19.6 51.5 27.1 13.0    
Operating Cost Growth % ... ... ... ... ... ... ... ... ... ... ... ...       22.9 6.43 126 -13.1 8.63    
Operating Profit Growth % ... ... ... ... ... ... ...                 19.6 31.7 -4.23 97.9 16.4    
Pre-Tax Profit Growth % ... ... ... ... ... ... ...                 17.5 21.6 -67.0 15.7 -73.3    
Net Profit Growth % ... ... ... ... ... ... ...                 25.7 18.5 -52.5 81.5 -72.0    
market share                                            
Market Share in Revenues % ... ... ... ... ... ... ...                 1.12 1.17 1.34 1.53 0.882   ...
Market Share in Net Profit % ... ... ... ... ... ... ...                 1.59 2.05 1.45 15.1 0.547 ... ...
Market Share in Employees % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1.78 1.87 ... ... ...
Market Share in Branches % ... ... ... ... ... ... ... ... ... ... ... ... ...     0.697 0.879 1.16 1.35 1.23   ...
balance sheet Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                            
Cash RUB bil ... ... ... ... ... ...                   58.1 206 264 184 111    
Interbank Loans RUB bil ... ... ... ... ... ...                   112 24.7 35.7 62.9 151    
Customer Loans RUB bil ... ... ... ... ... ...                   591 879 1,785 2,566 1,829    
Retail Loans RUB bil ... ... ... ... ... ... ... ... ... ... ...         91.7 182 209 201 150    
Mortgage Loans RUB bil ... ... ... ... ... ... ... ... ... ... ...         38.2 54.7 69.0 76.3 71.6    
Consumer Loans RUB bil ... ... ... ... ... ... ... ... ... ... ...         47.1 111 125 112 78.7    
Corporate Loans RUB bil ... ... ... ... ... ... ... ... ... ... ...         471 623 839 862 817    
Debt Securities RUB bil ... ... ... ... ... ...                   121 236 364 478 454    
Fixed Assets RUB bil ... ... ... ... ... ...                   14.4 21.7 19.0 27.7 26.4    
Total Assets RUB bil                               900 1,379 2,596 3,364 2,703    
Shareholders' Equity RUB bil ... ... ... ... ... ...                   90.4 139 158 216 232    
Of Which Minority Interest RUB bil ... ... ... ... ... ...                   15.7 33.1 26.6 31.5 0    
Liabilities RUB bil ... ... ... ... ... ...                   810 1,240 2,438 3,148 2,471    
Interbank Borrowing RUB bil ... ... ... ... ... ...                   214 257 1,042 1,631 1,060    
Customer Deposits RUB bil ... ... ... ... ... ...                   472 781 1,023 1,256 1,187    
Retail Deposits RUB bil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 267 302 479 521    
Corporate Deposits RUB bil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 515 721 777 666    
Sight Deposits RUB bil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 187 218 222 237    
Term Deposits RUB bil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 586 799 1,019 951    
Issued Debt Securities RUB bil ... ... ... ... ... ...                   115 189 306 233 155    
Other Liabilities RUB bil ... ... ... ... ... ...                   9.67 12.0 67.7 27.9 69.0    
asset quality                                            
Non-Performing Loans RUB bil ... ... ... ... ... ... ... ... ... ... ...         24.4 26.3 48.0 130 166    
Gross Loans RUB bil ... ... ... ... ... ... ... ... ... ... ...         612 912 1,825 2,567 1,937    
Total Provisions RUB bil ... ... ... ... ... ... ... ... ... ... ...         21.9 32.8 40.4 91.2 109    
growth rates                                            
Customer Loan Growth % ... ... ... ... ... ... ...                 31.9 48.9 103 43.8 -28.7    
Retail Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ...       53.7 98.7 14.6 -3.53 -25.4    
Mortgage Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ...       32.7 43.1 26.0 10.6 -6.20    
Consumer Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ...       72.2 136 12.0 -10.4 -29.5    
Corporate Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ...       15.4 32.2 34.6 2.72 -5.25    
Total Asset Growth % ...                             35.9 53.2 88.2 29.6 -19.6    
Shareholders' Equity Growth % ... ... ... ... ... ... ...                 19.4 54.2 13.3 36.9 7.39    
Customer Deposit Growth % ... ... ... ... ... ... ...                 23.3 65.7 30.9 22.8 -5.46    
Retail Deposit Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 13.1 58.6 8.91    
Corporate Deposit Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 40.1 7.77 -14.3    
market share                                            
Market Share in Customer Loans % ... ... ... ... ... ...                   1.98 2.47 3.93 5.22 3.91   ...
Market Share in Corporate Loans % ... ... ... ... ... ... ... ... ... ... ... ... ...     2.54 2.95 3.06 2.84 2.98   ...
Market Share in Retail Loans % ... ... ... ... ... ... ... ... ... ... ...         0.822 1.52 1.60 1.67 1.25   ...
Market Share in Consumer Loans % ... ... ... ... ... ... ... ... ... ... ...         1.19 1.83 1.84 1.89 1.39   ...
Market Share in Mortgage Loans % ... ... ... ... ... ... ... ... ... ... ...         1.92 2.07 1.95 1.92 1.59   ...
Market Share in Total Assets % ... ... ... ... ... ... ...                 1.93 2.54 3.55 4.37 3.66   ...
Market Share in Customer Deposits % ... ... ... ... ... ... ...                 2.30 3.28 3.25 3.35 3.38   ...
Market Share in Retail Deposits % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1.57 1.63 2.06 2.15   ...
Market Share in Corporate Deposits % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 4.75 4.24 4.09 4.07   ...
ratios Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                            
ROE % ... ... ... ... ... ...                   15.1 13.0 4.76 6.87 1.60    
ROA % ... ... ... ... ... ...                   1.61 1.31 0.356 0.431 0.118    
Costs (As % Of Assets) % ... ... ... ... ... ...                   2.74 2.00 2.59 1.50 1.60    
Costs (As % Of Income) % ... ... ... ... ... ...                   48.1 42.8 63.8 43.6 42.0    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ... ...         16.3 14.4 12.4 15.7 17.4    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ...         10.8 10.2 8.30 10.6 12.0    
Net Interest Margin % ... ... ... ... ... ...                   4.02 3.57 3.30 1.68 1.15    
Interest Spread % ... ... ... ... ... ... ...                 3.48 3.01 2.95 1.25 0.689    
Asset Yield % ... ... ... ... ... ...                   8.53 8.59 7.66 8.05 6.90    
Cost Of Liabilities % ... ... ... ... ... ... ...                 5.05 5.57 4.71 6.81 6.21    
Interest Income (As % Of Revenues) % ... ... ... ... ... ...                   70.6 76.5 81.4 48.8 30.1    
Fee Income (As % Of Revenues) % ... ... ... ... ... ...                   17.8 16.9 16.4 11.4 11.1    
Other Income (As % Of Revenues) % ... ... ... ... ... ...                   11.6 6.56 2.22 39.9 58.8    
Cost Per Employee USD per month ... ... ... ... ... ... ... ... ... ... ... ... ...     1,885 1,776 1,937 1,636 1,580   ...
Cost Per Employee (Local Currency) RUB per month ... ... ... ... ... ... ... ... ... ... ... ... ...     58,556 56,573 90,679 109,307 105,463   ...
Staff Cost (As % Of Total Cost) % ... ... ... ... ... ... ... ... ... ... ...         54.5 53.4 35.8 46.1 44.1    
Equity (As % Of Assets) % ... ... ... ... ... ...                   10.0 10.1 6.08 6.42 8.58    
Loans (As % Of Deposits) % ... ... ... ... ... ...                   125 113 174 204 154    
Loans (As % Assets) % ... ... ... ... ... ...                   65.6 63.8 68.8 76.3 67.7    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ... ... ...         3.98 2.88 2.63 5.05 8.57    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... ... ...         89.8 125 84.3 70.3 65.5    
Provisions (As % Of Loans) % ... ... ... ... ... ... ... ... ... ... ...         3.71 3.73 2.27 3.56 5.95    
Cost of Provisions (As % Of Loans) % ... ... ... ... ... ...                   1.13 1.28 1.64 2.26 1.67    
other data Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                            
Branches ... ... ... ... ... ... ... ... ... ... ... ... ...     297 380 481 500 416   ...
Employees ... ... ... ... ... ... ... ... ... ... ... ... ...     16,591 17,890 16,904 15,705 16,904   ...
ATMs ... ... ... ... ... ... ... ... ... ... ... ... ...     1,825 2,670 3,700 3,200 3,000   ...
Clients mil ... ... ... ... ... ... ... ... ... ... ... ... ...     ... ... 3.20 3.59 ... ... ...
Sight (As % Of Customer Deposits) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 23.9 21.3 17.7 19.9    

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OFCB's net interest income rose 59.2% to RUB 73.2 bil in 2018

By Helgi Analytics - November 05, 2019

Otkritie Financial Corporation Bank generated total banking revenues of RUB 107 bil in 2018, up 64.2% 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 116 ...

OFCB's net interest income rose 59.2% to RUB 73.2 bil in 2018

By Helgi Analytics - November 05, 2019

Otkritie Financial Corporation Bank generated total banking revenues of RUB 107 bil in 2018, up 64.2% 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 116 ...

OFCB's net interest margin rose 76.3% to 3.10% in 2018

By Helgi Analytics - November 05, 2019

Otkritie Financial Corporation Bank's net interest margin amounted to 3.10% in 2018, up from 1.76% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 6.31% in 2009 and an all time low of 1.15% in 2016. ...

OFCB's capital adequacy ratio rose 209% to 13.1% in 2018

By Helgi Analytics - November 05, 2019

Otkritie Financial Corporation Bank's capital adequacy ratio reached 13.1% at the end of 2018, up from 4.25% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 22.6% in 2009 and an all time low of 4.25% in 2017. The ...

OFCB's corporate loans fell 50.7% to RUB 423 bil in 2018

By Helgi Analytics - November 05, 2019

Otkritie Financial Corporation Bank's loans reached RUB 607 bil in the 2018, down from RUB 1,065 bil compared to the previous year. Historically, the bank’s loans reached an all time high of RUB 2,567 bil in 2015 and an all time low of RUB 180 bil in 2009. ...

OFCB's customer loan growth rose 55.6% to -27.0% in 2018

By Helgi Analytics - November 05, 2019

Otkritie Financial Corporation Bank's customer loan growth reached -27.0% in 2018, up from -60.8% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 130% in 2005 and an all time low of -60.8% in 2017. In the l...

OFCB's retail loan growth rose 207% to 12.4% in 2018

By Helgi Analytics - November 05, 2019

Otkritie Financial Corporation Bank's retail loans reached RUB 149 bil at the end of 2018, up 12.4% compared to the previous year. In the last decade, the average annual loan growth amounted to 0%. Overall, retail loans accounted for 28.6% of the bank's loa...

OFCB's mortgage loans rose 15.7% to RUB 69.2 bil in 2018

By Helgi Analytics - November 05, 2019

Otkritie Financial Corporation Bank's mortgage loans reached RUB 69.2 bil in 2017, down 3.37% compared to the previous year. Russian banking sector provided mortgage loans of RUB 5,187 bil in 2017, up 15.5% when compared to the last year. Otkritie Financi...

OFCB's total revenues rose 64.2% to RUB 65.1 bil in 2018

By Helgi Analytics - November 05, 2019

Otkritie Financial Corporation Bank generated total banking revenues of RUB 65.1 bil in 2017, down 43.7% compared to the previous year. Russian banking sector banking sector generated total revenues of RUB 10,903,149 mil in 2017, down 16.9% when compa...

OFCB's total revenues rose 64.2% to RUB 65.1 bil in 2018

By Helgi Analytics - November 05, 2019

Otkritie Financial Corporation Bank generated total banking revenues of RUB 65.1 bil in 2017, down 43.7% compared to the previous year. Russian banking sector banking sector generated total revenues of RUB 10,903,149 mil in 2017, down 16.9% when compa...

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Otkritie Financial Corporation Bank (formerly Nomos Bank) is a Russia-based private commercial bank. The Group offers corporate and retail banking products and services, including loans, deposits, and credit cards; SME, trade, and structured finance; leasing; and factoring. The Bank also provides investment banking services comprising advisory and brokerage services, such as proprietary research, equity and derivatives transactions, fixed income sales and trading, and corporate finance. At the end of 2013, the Bank serviced some 3.2 million retail and over 18,600 corporate clients through a network of 809 branches with a help of nearly 18,000 employees. The Bank was incorporated in 1992 and is headquartered in Moscow, the Russian Federation.

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Finance

Otkritie Financial Corporation Bank has been growing its revenues and asset by 21.3% and 23.0% a year on average in the last 10 years. Its loans and deposits have grown by 10.8% and 22.1% a year during that time and loans to deposits ratio reached 61.2% at the end of 2018. The company achieved an average return on equity of -12.3% 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 77.6% in 2018, compared to 52.7% average in the last decade.

Equity represented 14.4% of total assets or 60.4% of loans at the end of 2018. Otkritie Financial Corporation Bank's non-performing loans were 23.2% of total loans while provisions covered some 95.4% of NPLs at the end of 2018.