Russian Agricultural Bank

RAB's net profit fell 48.1% yoy to RUB 0.513 bil in 1Q2019

By Helgi Analytics - August 17, 2019

Russian Agricultural Bank made a net profit of RUB 0.513 bil under revenues of RUB 23.5 bil in the first quarter of 2019, down 48.1% ...

RAB's net interest margin fell 14.2% yoy to 2.09% in 1Q2019

By Helgi Analytics - August 17, 2019

Russian Agricultural Bank's net interest margin amounted to 2.09% in the first quarter of 2019, up from 1.67% when compared to t...

RAB's customer loan growth rose 76.1% yoy to 12.4% in 1Q2019

By Helgi Analytics - August 17, 2019

Russian Agricultural Bank's customer loan growth reached 12.4% in 2019-03-31, up from 7.05% compared to the previous year. ...

Profit Statement 2016 2017 2018
Net Interest Income RUB bil 56.5 63.3 67.4
Fee Income (As % Of Revenues) % 18.8 20.9 21.2
Other Income RUB bil 6.02 13.3 12.5
Total Revenues RUB bil 77.0 96.8 101
Staff Cost RUB bil 25.5 26.8 27.1
Operating Profit RUB bil 29.9 49.3 42.8
Provisions RUB bil 86.5 64.7 58.6
Net Profit RUB bil -58.2 -19.5 1.56
Balance Sheet 2016 2017 2018
Interbank Loans RUB bil 55.5 25.9 38.7
Customer Loans RUB bil 1,618 1,766 1,958
Debt Securities RUB bil 269 356 609
Total Assets RUB bil 2,463 2,889 3,115
Shareholders' Equity RUB bil 165 190 152
Interbank Borrowing RUB bil 78.6 52.8 172
Customer Deposits RUB bil 1,578 2,204 2,421
Issued Debt Securities RUB bil 623 415 332
Ratios 2016 2017 2018
ROE % -32.3 -11.0 0.911
ROA % -2.42 -0.727 0.052
Costs (As % Of Assets) % 1.96 1.78 1.95
Costs (As % Of Income) % 61.2 49.1 57.8
Capital Adequacy Ratio % 10.0 15.5 15.2
Net Interest Margin % 2.35 2.36 2.25
Loans (As % Of Deposits) % 103 80.1 80.9
NPLs (As % Of Loans) % 20.5 17.9 19.2
Provisions (As % Of NPLs) % 51.2 57.7 76.6
Growth Rates 2016 2017 2018
Total Revenue Growth % 101 25.7 4.86
Operating Cost Growth % -1.72 0.866 23.5
Operating Profit Growth % -412 64.9 -13.1
Net Profit Growth % -38.2 -66.6 -108
Customer Loan Growth % -0.474 9.14 10.9
Total Asset Growth % 4.86 17.3 7.81
Customer Deposit Growth % 32.6 39.7 9.87
Shareholders' Equity Growth % -15.9 15.7 -20.3
Employees 27,236 27,000 ...

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summary Unit 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 ...                     56.4 65.4 60.0 23.9 56.5    
Total Revenues RUB bil ...                     81.3 83.7 74.9 38.4 77.0    
Operating Profit RUB bil ...                     24.8 27.0 5.63 -9.58 29.9    
Net Profit RUB bil ...                     0.365 0.840 -47.4 -94.1 -58.2    
balance sheet                                    
Interbank Loans RUB bil ...                     45.9 43.1 34.0 61.1 55.5    
Customer Loans RUB bil ...                     1,071 1,261 1,416 1,626 1,618    
Debt Securities RUB bil ...                     154 184 266 415 269    
Total Assets RUB bil ...                     1,429 1,671 1,916 2,348 2,463    
Shareholders' Equity RUB bil ...                     198 228 198 196 165    
Interbank Borrowing RUB bil ...                     136 150 286 97.3 78.6    
Customer Deposits RUB bil ...                     557 722 762 1,190 1,578    
Issued Debt Securities RUB bil ...                     519 555 640 850 623    
ratios                                    
ROE % ...                     0.206 0.395 -22.3 -47.8 -32.3    
ROA % ...                     0.027 0.054 -2.64 -4.42 -2.42    
Costs (As % Of Assets) % ...                     4.16 3.66 3.86 2.25 1.96    
Costs (As % Of Income) % ...                     69.5 67.7 92.5 125 61.2    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ...   16.1 18.0 13.0 11.7 10.0    
Net Interest Margin % ...                     4.16 4.22 3.34 1.12 2.35    
Interest Income (As % Of Revenues) % ...                     69.4 78.1 80.0 62.4 73.4    
Fee Income (As % Of Revenues) % ...                     7.75 9.99 11.8 31.6 18.8    
Staff Cost (As % Of Total Cost) % ...                     39.6 42.7 36.6 49.4 54.2    
Equity (As % Of Assets) % ...                     13.9 13.6 10.3 8.34 6.68    
Loans (As % Of Deposits) % ...                     192 175 186 137 103    
Loans (As % Assets) % ...                     74.9 75.5 73.9 69.2 65.7    
NPLs (As % Of Loans) % ... ... ... ... ...             27.0 25.9 26.0 22.9 20.5    
Provisions (As % Of NPLs) % ... ... ... ... ...             30.8 32.2 34.0 43.4 51.2    
income statement Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                    
Interest Income RUB bil ...                     136 153 161 196 241    
Interest Cost RUB bil ...                     79.5 87.2 101 173 184    
Net Interest Income RUB bil ...                     56.4 65.4 60.0 23.9 56.5    
Net Fee Income RUB bil ...                     6.30 8.36 8.82 12.1 14.4    
Other Income RUB bil ...                     18.6 9.95 6.14 2.30 6.02    
Total Revenues RUB bil ...                     81.3 83.7 74.9 38.4 77.0    
Staff Cost RUB bil ...                     22.4 24.2 25.3 23.7 25.5    
Depreciation RUB bil ...                     1.30 1.93 2.02 2.12 2.21    
Other Cost RUB bil ...                     32.8 30.5 42.0 22.1 19.4    
Operating Cost RUB bil ...                     56.5 56.7 69.3 47.9 47.1    
Operating Profit RUB bil ...                     24.8 27.0 5.63 -9.58 29.9    
Provisions RUB bil ...                     26.6 27.0 55.9 90.4 86.5    
Extra and Other Cost RUB bil ...                     -2.61 -0.538 0 -0.344 1.36    
Pre-Tax Profit RUB bil ...                     0.820 0.539 -50.3 -99.7 -58.0    
Tax RUB bil ...                     0.676 -0.190 -2.34 -5.44 0.993    
Minorities RUB bil ...                     -0.221 -0.111 -0.523 -0.073 -0.731    
Net Profit RUB bil ...                     0.365 0.840 -47.4 -94.1 -58.2    
Dividends RUB bil                       0.131 0.255 0.255 ... ...    
growth rates                                    
Net Interest Income Growth % ... ...                   5.22 15.8 -8.23 -60.1 136    
Net Fee Income Growth % ... ...                   49.9 32.7 5.52 37.5 19.1    
Total Revenue Growth % ... ...                   30.3 2.95 -10.4 -48.8 101    
Operating Cost Growth % ... ...                   43.1 0.363 22.3 -30.8 -1.72    
Operating Profit Growth % ... ...                   8.34 8.83 -79.1 -270 -412    
Pre-Tax Profit Growth % ... ...                   134 -34.3 -9,425 98.3 -41.8    
Net Profit Growth % ... ...                   -240 130 -5,743 98.6 -38.2    
market share                                    
Market Share in Revenues % ... ... ...                 0.002 0.002 0.001 < 0.001 < 0.001   ...
Market Share in Net Profit % ... ... ...               ... < 0.001 < 0.001 ... ... ... ... ...
Market Share in Employees % ... ... ... ... ... ... ... ... ... ... ... ... ... 3.78 3.43 ... ... ...
Market Share in Bank Cards % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ...
Market Share in Branches % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 3.82   ...
balance sheet Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                    
Cash RUB bil ...                     115 137 114 176 337    
Interbank Loans RUB bil ...                     45.9 43.1 34.0 61.1 55.5    
Customer Loans RUB bil ...                     1,071 1,261 1,416 1,626 1,618    
Retail Loans RUB bil ... ... ... ... ...             200 251 281 297 327    
Mortgage Loans RUB bil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 147 ... ...
Consumer Loans RUB bil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 180 ... ...
Corporate Loans RUB bil ... ... ... ... ...             946 1,113 1,262 1,481 1,446    
Debt Securities RUB bil ...                     154 184 266 415 269    
Fixed Assets RUB bil ...                     24.8 26.4 26.6 23.6 19.2    
Total Assets RUB bil ...                     1,429 1,671 1,916 2,348 2,463    
Shareholders' Equity RUB bil ...                     198 228 198 196 165    
Of Which Minority Interest RUB bil ...                     0.983 1.18 0.332 0.733 -0.004    
Liabilities RUB bil ...                     1,231 1,443 1,718 2,153 2,298    
Interbank Borrowing RUB bil ...                     136 150 286 97.3 78.6    
Customer Deposits RUB bil ...                     557 722 762 1,190 1,578    
Retail Deposits RUB bil ...                     188 249 307 487 613    
Corporate Deposits RUB bil ...                     292 318 354 461 572    
Sight Deposits RUB bil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 550    
Term Deposits RUB bil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1,028    
Issued Debt Securities RUB bil ...                     519 555 640 850 623    
Other Liabilities RUB bil ...                     17.6 16.1 30.4 16.0 18.8    
asset quality                                    
Non-Performing Loans RUB bil ... ... ... ... ...             316 356 404 413 371    
Gross Loans RUB bil ... ... ... ... ...             1,168 1,375 1,554 1,805 1,808    
Total Provisions RUB bil ... ... ... ... ...             97.4 114 137 179 190    
growth rates                                    
Customer Loan Growth % ... ...                   18.5 17.8 12.3 14.8 -0.474    
Retail Loan Growth % ... ... ... ... ... ...           35.4 25.5 12.2 5.60 10.2    
Corporate Loan Growth % ... ... ... ... ... ...           18.8 17.6 13.4 17.3 -2.32    
Total Asset Growth % ... ...                   11.2 16.9 14.7 22.6 4.86    
Shareholders' Equity Growth % ... ...                   26.2 15.1 -13.1 -1.11 -15.9    
Customer Deposit Growth % ... ...                   -8.20 29.5 5.47 56.2 32.6    
Retail Deposit Growth % ... ...                   24.2 32.7 23.1 58.6 26.0    
Corporate Deposit Growth % ... ...                   13.1 8.75 11.2 30.5 24.0    
market share                                    
Market Share in Customer Loans % ...                     0.004 0.004 0.003 0.003 0.003   ...
Market Share in Corporate Loans % ... ... ... ... ... ... ... ... ...     0.005 0.005 0.005 0.005 0.005   ...
Market Share in Retail Loans % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0.003 ... ...
Market Share in Consumer Loans % ... ... ... ... ...             0.003 0.003 0.002 0.003 0.003   ...
Market Share in Mortgage Loans % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0.003 ... ...
Market Share in Total Assets % ... ... ...                 0.003 0.003 0.003 0.003 0.003   ...
Market Share in Customer Deposits % ... ... ...                 0.003 0.003 0.002 0.003 0.004   ...
Market Share in Retail Deposits % ... ... ...                 0.001 0.001 0.002 0.002 0.003   ...
Market Share in Corporate Deposits % ... ... ...                 0.003 0.003 0.002 0.002 0.003   ...
ratios Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                    
ROE % ...                     0.206 0.395 -22.3 -47.8 -32.3    
ROA % ...                     0.027 0.054 -2.64 -4.42 -2.42    
Costs (As % Of Assets) % ...                     4.16 3.66 3.86 2.25 1.96    
Costs (As % Of Income) % ...                     69.5 67.7 92.5 125 61.2    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ...   16.1 18.0 13.0 11.7 10.0    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ...   12.6 13.6 9.90 7.70 6.50    
Net Interest Margin % ...                     4.16 4.22 3.34 1.12 2.35    
Interest Spread % ... ...                   3.28 3.32 2.58 0.299 1.73    
Asset Yield % ...                     10.0 9.85 9.00 9.21 10.0    
Cost Of Liabilities % ... ...                   6.74 6.53 6.42 8.91 8.29    
Payout Ratio % ...                     35.9 30.4 -0.538 ... ...    
Interest Income (As % Of Revenues) % ...                     69.4 78.1 80.0 62.4 73.4    
Fee Income (As % Of Revenues) % ...                     7.75 9.99 11.8 31.6 18.8    
Other Income (As % Of Revenues) % ...                     22.8 11.9 8.19 5.99 7.81    
Cost Per Employee USD per month ...                     1,691 1,740 1,255 1,027 1,170   ...
Cost Per Employee (Local Currency) RUB per month ...                     52,529 55,446 58,729 68,640 78,150   ...
Staff Cost (As % Of Total Cost) % ...                     39.6 42.7 36.6 49.4 54.2    
Equity (As % Of Assets) % ...                     13.9 13.6 10.3 8.34 6.68    
Loans (As % Of Deposits) % ...                     192 175 186 137 103    
Loans (As % Assets) % ...                     74.9 75.5 73.9 69.2 65.7    
NPLs (As % Of Loans) % ... ... ... ... ...             27.0 25.9 26.0 22.9 20.5    
Provisions (As % Of NPLs) % ... ... ... ... ...             30.8 32.2 34.0 43.4 51.2    
Provisions (As % Of Loans) % ... ... ... ... ...             9.09 9.07 9.71 11.0 11.7    
Cost of Provisions (As % Of Loans) % ...                     2.69 2.32 4.18 5.95 5.33    
other data Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                    
Branches ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1,298    
Employees ...                     35,458 36,349 35,945 28,772 27,236   ...
ATMs ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 3,503 ... ...
Clients mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ...
Payment Cards '000 ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ...
Sight (As % Of Customer Deposits) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 34.9    

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RAB's Cost of Risk fell 28.0% yoy to 1.08% in 1Q2019

By Helgi Analytics - August 23, 2019

Russian Agricultural Bank's Cost of Risk (loan loss provisions as % of total assets) amounted to 1.08% in the first quarter of 2019, down from 2.06% when compared to the previous quarter. Historically, the bank’s cost of risk reached an all time high of 3.03% in...

RAB's net interest income fell 4.26% yoy to RUB 16.7 bil in 1Q2019

By Helgi Analytics - August 17, 2019

Russian Agricultural Bank generated total banking revenues of RUB 23.5 bil in the first quarter of 2019, down 4.23% when compared to the same period of last year and 5.28% when compared to the previous quarter. Historically, the bank’s revenues containing of ...

RAB's equity (as % of assets) rose 20.9% yoy to 4.60% in 1Q2019

By Helgi Analytics - October 7, 2019

Russian Agricultural Bank's Equity reached 13.0% of total assets in the 1Q2019, down from 13.1% for the previous year. As a share of net customer loans, the ratio amounted to 21.0% at the end of the first quarter of 2019. ...

RAB's net interest margin fell 5.05% to 2.25% in 2018

By Helgi Analytics - August 17, 2019

Russian Agricultural Bank's net interest margin amounted to 2.25% in 2018, down from 2.36% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 11.4% in 2003 and an all time low of 1.12% in 2015. The av...

RAB's net profit rose 108% to RUB 1.56 bil in 2018

By Helgi Analytics - August 17, 2019

Russian Agricultural Bank made a net profit of RUB 1.56 bil under revenues of RUB 101 bil in 2018, up 108% and 4.86% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of RUB 4.35 bil in 2007 and an all time low of ...

RAB's npls (as % of loans) rose 7.15% to 19.2% in 2018

By Helgi Analytics - August 17, 2019

Russian Agricultural Bank's non-performing loans reached 19.2% of total loans at the end of 2018, up from 17.9% compared to the previous year. Historically, the NPL ratio hit an all time high of 27.0% in 2012 and an all time low of 1.78% in 2006. Provision ...

RAB's net interest income rose 6.52% to RUB 67.4 bil in 2018

By Helgi Analytics - August 17, 2019

Russian Agricultural Bank generated total banking revenues of RUB 101 bil in 2018, up 4.86% 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 101 bil in 201...

RAB's capital adequacy ratio fell 1.94% to 15.2% in 2018

By Helgi Analytics - August 17, 2019

Russian Agricultural Bank's capital adequacy ratio reached 15.2% at the end of 2018, down from 15.5% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 18.0% in 2013 and an all time low of 10.0% in 2016. The Tier 1 r...

RAB's customer loan growth rose 19.0% to 10.9% in 2018

By Helgi Analytics - August 17, 2019

Russian Agricultural Bank's customer loan growth reached 10.9% in 2018, up from 9.14% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 253% in 2006 and an all time low of -0.474% in 2016. In the last decade,...

RAB's customer deposits rose 9.87% to RUB 2,204 bil in 2018

By Helgi Analytics - September 6, 2018

Russian Agricultural Bank's customer deposits reached RUB 2,204 bil in 2017, up 39.7% compared to the previous year. Russian banking sector accepted customer deposits of RUB 37,471 bil in 2017, up 6.51% when compared to the last year. Russian Agricultural...

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Russian Agricultural Bank is a Russia-based state-owned bank. The Bank provides commercial and retail banking services to agribusiness and rural population in the Russian Federation. The products and services include bank accounts, debit cards, currency exchange, deposit boxes, lending and investment services among others. Apart from the traditional banking services, the Bank executes the Russian Government's financial policy in the Russian agricultural industry and implements the State Program on Agribusiness Development. At the end of 2013, the Bank had a branch network of 78 regional branches and approximately 1,500 additional offices and employed more than 36,500 employees. The Bank was founded in 2000 and is based in Moscow, the Russian Federation

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Finance

Russian Agricultural Bank has been growing its revenues and asset by 4.87% and 15.9% a year on average in the last 10 years. Its loans and deposits have grown by 15.8% and 31.7% a year during that time and loans to deposits ratio reached 80.9% at the end of 2018. The company achieved an average return on equity of -11.1% in the last decade with net profit growing -2.73% a year on average. In terms of operating efficiency, its cost to income ratio reached 57.8% in 2018, compared to 69.9% average in the last decade.

Equity represented 4.87% of total assets or 7.75% of loans at the end of 2018. Russian Agricultural Bank's non-performing loans were 19.2% of total loans while provisions covered some 76.6% of NPLs at the end of 2018.