Sovcombank

Sovcombank's npls (as % of loans) fell 24.3% yoy to 1.92% in 1Q2019

By Helgi Analytics - August 20, 2019

Sovcombank's non-performing loans reached 1.92% of total loans at the end of 2019-03-31, down from 2.53% compared to the previous...

Sovcombank's net profit rose 13.0% yoy to RUB 5.68 bil in 1Q2019

By Helgi Analytics - August 20, 2019

Sovcombank made a net profit of RUB 5.68 bil under revenues of RUB 20.0 bil in the first quarter of 2019, up 13% and 48.3% ...

Sovcombank's net interest margin rose 7.32% yoy to 5.79% in 1Q2019

By Helgi Analytics - August 20, 2019

Sovcombank's net interest margin amounted to 5.79% in the first quarter of 2019, down from 6.16% when compared to the previous q...

Profit Statement 2016 2017 2018
Net Interest Income RUB bil 28.6 34.2 49.7
Fee Income (As % Of Revenues) % 27.1 31.2 26.4
Other Income RUB bil 5.75 5.59 6.15
Total Revenues RUB bil 47.2 57.9 75.8
Staff Cost RUB bil 7.96 13.4 19.6
Operating Profit RUB bil 32.6 33.6 41.1
Provisions RUB bil 4.69 4.44 8.80
Net Profit RUB bil 33.6 29.6 17.4
Balance Sheet 2016 2017 2018
Interbank Loans RUB bil 0.384 9.34 48.5
Customer Loans RUB bil 238 266 541
Debt Securities RUB bil 292 354 226
Total Assets RUB bil 565 689 967
Shareholders' Equity RUB bil 63.9 85.4 114
Interbank Borrowing RUB bil 188 194 191
Customer Deposits RUB bil 276 359 599
Issued Debt Securities RUB bil 25.9 37.9 39.4
Ratios 2016 2017 2018
ROE % 73.6 39.6 17.5
ROA % 6.50 4.71 2.10
Costs (As % Of Assets) % 2.83 3.87 4.19
Costs (As % Of Income) % 31.0 42.0 45.8
Capital Adequacy Ratio % 16.0 16.5 13.8
Net Interest Margin % 5.54 5.46 6.00
Loans (As % Of Deposits) % 86.2 74.2 90.4
NPLs (As % Of Loans) % 2.42 2.25 1.79
Provisions (As % Of NPLs) % 130 146 169
Growth Rates 2016 2017 2018
Total Revenue Growth % 64.9 22.7 31.0
Operating Cost Growth % 37.4 66.2 43.0
Operating Profit Growth % 81.2 3.18 22.3
Net Profit Growth % 75.2 -11.9 -41.0
Customer Loan Growth % 36.1 11.7 103
Total Asset Growth % 20.8 22.0 40.3
Customer Deposit Growth % 90.1 29.8 66.9
Shareholders' Equity Growth % 134 33.6 33.5
Employees ... 11,480 15,700

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summary Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                        
Net Interest Income RUB bil ...         7.37 10.7 17.6 18.3 28.6    
Total Revenues RUB bil ...         13.9 18.7 29.8 28.6 47.2    
Operating Profit RUB bil ...         7.91 11.2 17.7 18.0 32.6    
Net Profit RUB bil ...         3.52 3.54 1.05 19.2 33.6    
balance sheet                        
Interbank Loans RUB bil           16.5 2.59 14.9 23.7 0.384    
Customer Loans RUB bil           48.4 60.5 117 175 238    
Debt Securities RUB bil           30.8 44.3 38.1 209 292    
Total Assets RUB bil           94.5 125 202 468 565    
Shareholders' Equity RUB bil           9.20 12.8 11.6 27.3 63.9    
Interbank Borrowing RUB bil           18.1 24.3 63.1 264 188    
Customer Deposits RUB bil           62.6 80.8 118 145 276    
Issued Debt Securities RUB bil           3.58 5.69 8.11 24.2 25.9    
ratios                        
ROE % ...         42.9 32.2 8.56 98.4 73.6    
ROA % ...         4.63 3.23 0.641 5.72 6.50    
Costs (As % Of Assets) % ...         7.88 6.87 7.42 3.18 2.83    
Costs (As % Of Income) % ...         43.1 40.3 40.6 37.2 31.0    
Capital Adequacy Ratio % ... ... ... ... ... ... 16.4 11.6 11.4 16.0    
Net Interest Margin % ...         9.71 9.77 10.8 5.47 5.54    
Interest Income (As % Of Revenues) % ...         53.0 57.2 59.1 64.0 60.7    
Fee Income (As % Of Revenues) % ...         45.1 41.4 31.4 34.0 27.1    
Staff Cost (As % Of Total Cost) % ...         45.2 46.8 48.6 52.3 54.4    
Equity (As % Of Assets) %           9.74 10.3 5.75 5.84 11.3    
Loans (As % Of Deposits) %           77.3 74.9 99.4 120 86.2    
Loans (As % Assets) %           51.2 48.6 57.9 37.4 42.2    
NPLs (As % Of Loans) % ...         7.05 7.89 7.83 4.80 2.42    
Provisions (As % Of NPLs) % ...         110 121 111 112 130    
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                        
Interest Income RUB bil ...         12.7 18.5 30.0 45.0 63.5    
Interest Cost RUB bil ...         5.35 7.83 12.4 26.7 34.8    
Net Interest Income RUB bil ...         7.37 10.7 17.6 18.3 28.6    
Net Fee Income RUB bil ...         6.26 7.74 9.35 9.73 12.8    
Other Income RUB bil ...         0.263 0.257 2.83 0.570 5.75    
Total Revenues RUB bil ...         13.9 18.7 29.8 28.6 47.2    
Staff Cost RUB bil ...         2.71 3.52 5.88 5.57 7.96    
Depreciation RUB bil ...         0.247 0.332 0.414 0.456 0.516    
Other Cost RUB bil ...         3.03 3.67 5.81 4.62 6.15    
Operating Cost RUB bil ...         5.99 7.53 12.1 10.6 14.6    
Operating Profit RUB bil ...         7.91 11.2 17.7 18.0 32.6    
Provisions RUB bil ...         3.73 6.36 11.1 9.02 4.69    
Extra and Other Cost RUB bil ...         -0.281 0.383 5.94 -15.0 -13.8    
Pre-Tax Profit RUB bil ...         4.46 4.43 0.589 23.9 41.7    
Tax RUB bil ...         0.945 0.886 -0.456 4.62 8.04    
Minorities RUB bil ...         0 0 0 0.163 0.049    
Net Profit RUB bil ...         3.52 3.54 1.05 19.2 33.6    
growth rates                        
Net Interest Income Growth % ... ...       29.2 45.1 64.4 4.07 56.5    
Net Fee Income Growth % ... ...       49.1 23.6 20.8 4.04 31.3    
Total Revenue Growth % ... ...       40.3 34.5 59.2 -3.92 64.9    
Operating Cost Growth % ... ...       44.0 25.7 60.8 -12.1 37.4    
Operating Profit Growth % ... ...       37.7 41.2 58.2 1.67 81.2    
Pre-Tax Profit Growth % ... ...       5.80 -0.771 -86.7 3,964 74.0    
Net Profit Growth % ... ...       5.84 0.708 -70.5 1,733 75.2    
market share                        
Market Share in Revenues % ...         0.350 0.413 0.495 0.427 0.359   ...
Market Share in Net Profit % ... ... ...     0.445 0.488 0.215 22.5 5.12   ...
Market Share in Branches % ... ... ... ... ... ... ... ... ... ...   ...
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                        
Cash RUB bil           10.2 11.5 26.5 53.4 24.5    
Interbank Loans RUB bil           16.5 2.59 14.9 23.7 0.384    
Customer Loans RUB bil           48.4 60.5 117 175 238    
Retail Loans RUB bil           45.6 61.7 86.4 68.0 86.3    
Mortgage Loans RUB bil           0.223 0.165 0.406 2.25 3.53    
Consumer Loans RUB bil           45.4 61.5 86.0 65.8 82.8    
Corporate Loans RUB bil           6.86 5.17 41.5 117 160    
Debt Securities RUB bil           30.8 44.3 38.1 209 292    
Fixed Assets RUB bil           2.14 2.63 1.39 2.63 4.96    
Total Assets RUB bil           94.5 125 202 468 565    
Shareholders' Equity RUB bil           9.20 12.8 11.6 27.3 63.9    
Of Which Minority Interest RUB bil           0 0 0 0.217 0.122    
Liabilities RUB bil           85.3 112 190 441 501    
Interbank Borrowing RUB bil           18.1 24.3 63.1 264 188    
Customer Deposits RUB bil           62.6 80.8 118 145 276    
Retail Deposits RUB bil ... ... ...     56.2 74.1 101 130 237    
Corporate Deposits RUB bil ... ... ...     6.47 6.68 16.3 15.6 39.8    
Sight Deposits RUB bil ... ... ...     5.41 5.78 15.2 9.74 29.7    
Term Deposits RUB bil ... ... ...     57.2 75.0 102 136 247    
Issued Debt Securities RUB bil           3.58 5.69 8.11 24.2 25.9    
Other Liabilities RUB bil           1.01 0.952 1.39 6.53 11.2    
asset quality                        
Non-Performing Loans RUB bil ...         3.70 5.27 10.0 8.90 5.95    
Gross Loans RUB bil           52.5 66.9 128 185 246    
Total Provisions RUB bil           4.09 6.39 11.1 9.93 7.73    
growth rates                        
Customer Loan Growth % ...         39.2 24.9 93.1 50.1 36.1    
Retail Loan Growth % ...         88.8 35.1 40.1 -21.3 26.9    
Mortgage Loan Growth % ...         849 -26.2 147 454 56.8    
Consumer Loan Growth % ...         88.0 35.4 39.8 -23.5 25.9    
Corporate Loan Growth % ...         -42.9 -24.6 701 183 36.4    
Total Asset Growth % ...         64.9 31.7 62.0 132 20.8    
Shareholders' Equity Growth % ...         28.3 39.3 -9.48 135 134    
Customer Deposit Growth % ...         46.9 29.0 45.5 23.7 90.1    
Retail Deposit Growth % ... ... ... ...   56.8 31.9 36.6 28.3 82.3    
Corporate Deposit Growth % ... ... ... ...   -4.96 3.28 145 -4.51 156    
market share                        
Market Share in Customer Loans %           0.162 0.170 0.257 0.356 0.510   ...
Market Share in Corporate Loans % ... ... ...     0.037 0.024 0.151 0.385 0.583   ...
Market Share in Retail Loans % ...         0.793 0.842 1.10 0.981 1.31   ...
Market Share in Consumer Loans %           0.591 0.619 0.763 0.637 0.799   ...
Market Share in Mortgage Loans % ...         0.011 0.006 0.012 0.057 0.079   ...
Market Share in Total Assets %           0.203 0.230 0.276 0.608 0.765   ...
Market Share in Customer Deposits %           0.305 0.339 0.374 0.388 0.786   ...
Market Share in Retail Deposits % ... ... ...     0.394 0.437 0.545 0.559 0.978   ...
Market Share in Corporate Deposits % ... ... ...     0.067 0.062 0.096 0.082 0.243   ...
ratios Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                        
ROE % ...         42.9 32.2 8.56 98.4 73.6    
ROA % ...         4.63 3.23 0.641 5.72 6.50    
Costs (As % Of Assets) % ...         7.88 6.87 7.42 3.18 2.83    
Costs (As % Of Income) % ...         43.1 40.3 40.6 37.2 31.0    
Capital Adequacy Ratio % ... ... ... ... ... ... 16.4 11.6 11.4 16.0    
Tier 1 Ratio % ... ... ... ... ... ... 14.5 7.88 7.56 12.7    
Net Interest Margin % ...         9.71 9.77 10.8 5.47 5.54    
Interest Spread % ...         8.86 8.97 10.2 4.97 4.89    
Asset Yield % ...         16.8 16.9 18.4 13.4 12.3    
Cost Of Liabilities % ...         7.90 7.95 8.20 8.47 7.39    
Interest Income (As % Of Revenues) % ...         53.0 57.2 59.1 64.0 60.7    
Fee Income (As % Of Revenues) % ...         45.1 41.4 31.4 34.0 27.1    
Other Income (As % Of Revenues) % ...         1.89 1.37 9.51 1.99 12.2    
Cost Per Employee USD per month ... ... ... ... ... ... ... ... ... ...   ...
Cost Per Employee (Local Currency) RUB per month ... ... ... ... ... ... ... ... ... ...    
Staff Cost (As % Of Total Cost) % ...         45.2 46.8 48.6 52.3 54.4    
Equity (As % Of Assets) %           9.74 10.3 5.75 5.84 11.3    
Loans (As % Of Deposits) %           77.3 74.9 99.4 120 86.2    
Loans (As % Assets) %           51.2 48.6 57.9 37.4 42.2    
NPLs (As % Of Loans) % ...         7.05 7.89 7.83 4.80 2.42    
Provisions (As % Of NPLs) % ...         110 121 111 112 130    
Provisions (As % Of Loans) %           8.44 10.6 9.49 5.67 3.24    
Cost of Provisions (As % Of Loans) % ...         8.97 11.7 12.6 6.18 2.27    
other data Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                        
Branches ... ... ... ... ... ... ... ... ... ...   ...
Employees ... ... ... ... ... ... ... ... ... ...    
Clients mil ... ... ... ... ... ... ... ... ... ...   ...
Sight (As % Of Customer Deposits) % ... ... ...     8.63 7.15 12.9 6.70 10.7    
Risk-Weighted Assets RUB bil ... ... ... ... ... ... 86.5 144 353 438    

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Sovcombank's capital adequacy ratio fell 22.2% yoy to 15.2% in 1Q2019

By Helgi Analytics - August 20, 2019

Sovcombank's capital adequacy ratio reached 15.2% at the end of first quarter of 2019, up from 13.8% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 19.5% in 1Q2018 and an all time low of 13.8% in 4Q2018. ...

Sovcombank's net interest income rose 52.4% yoy to RUB 13.9 bil in 1Q2019

By Helgi Analytics - August 20, 2019

Sovcombank generated total banking revenues of RUB 20.0 bil in the first quarter of 2019, up 48.3% when compared to the same period of last year and down 2.7% when compared to the previous quarter. Historically, the bank’s revenues containing of i...

Sovcombank's Cost of Risk fell 45.5% yoy to 0.436% in 1Q2019

By Helgi Analytics - August 23, 2019

Sovcombank's Cost of Risk (loan loss provisions as % of total assets) amounted to 0.436% in the first quarter of 2019, down from 0.913% when compared to the previous quarter. Historically, the bank’s cost of risk reached an all time high of 1.40% in 2Q2018 a...

Sovcombank's equity (as % of assets) fell 4.12% yoy to 12.9% in 1Q2019

By Helgi Analytics - October 7, 2019

Sovcombank's Equity reached 5.14% of total assets in the 1Q2019, up from 4.97% for the previous year. As a share of net customer loans, the ratio amounted to 7.96% at the end of the first quarter of 2019. ...

Sovcombank's customer loan growth rose 577% yoy to 108% in 1Q2019

By Helgi Analytics - August 20, 2019

Sovcombank's customer loan growth reached 108% in 2019-03-31, up from 15.9% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 108% in 2019-03-31 and an all time low of 15.9% in 2018-03-31. In the last decade,...

Sovcombank's net interest margin rose 9.86% to 6.00% in 2018

By Helgi Analytics - August 20, 2019

Sovcombank's net interest margin amounted to 6.00% in 2018, up from 5.46% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 15.8% in 2008 and an all time low of 5.46% in 2017. The average margin in t...

Sovcombank's net profit fell 41.0% to RUB 17.4 bil in 2018

By Helgi Analytics - August 20, 2019

Sovcombank made a net profit of RUB 17.4 bil under revenues of RUB 75.8 bil in 2018, up -41.0% and 31.0% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of RUB 33.6 bil in 2016 and an all time low of RUB -0.732...

Sovcombank's net interest income rose 45.1% to RUB 49.7 bil in 2018

By Helgi Analytics - August 20, 2019

Sovcombank generated total banking revenues of RUB 75.8 bil in 2018, up 31% 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 75.8 bil in 2018 and an all ti...

Sovcombank's npls (as % of loans) fell 20.2% to 1.79% in 2018

By Helgi Analytics - August 20, 2019

Sovcombank's non-performing loans reached 1.79% of total loans at the end of 2018, down from 2.25% compared to the previous year. Historically, the NPL ratio hit an all time high of 15.2% in 2009 and an all time low of 0.338% in 2010. Provision coverage amo...

Sovcombank's capital adequacy ratio fell 16.4% to 13.8% in 2018

By Helgi Analytics - August 20, 2019

Sovcombank's capital adequacy ratio reached 13.8% at the end of 2018, down from 16.5% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 16.5% in 2017 and an all time low of 11.4% in 2015. The Tier 1 ratio amounted t...

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Finance

Sovcombank has been growing its revenues and asset by 34.9% and 44.0% a year on average in the last 10 years. Its loans and deposits have grown by 43.2% and 43.0% a year during that time and loans to deposits ratio reached 90.4% at the end of 2018. The company achieved an average return on equity of 41.1% in the last decade with net profit growing nan% a year on average. In terms of operating efficiency, its cost to income ratio reached 45.8% in 2018, compared to 41.4% average in the last decade.

Equity represented 11.8% of total assets or 21.1% of loans at the end of 2018. Sovcombank's non-performing loans were 1.79% of total loans while provisions covered some 169% of NPLs at the end of 2018.