Credit card market in Russia, 2012
Upcoming SlideShare
Loading in...5
×
 

Credit card market in Russia, 2012

on

  • 1,147 views

In 2012 the Russian credit card market grew by 82.5%, having exceeded the growth rates of 2011 (61.6%), and having exceeded twofold the total growth amount for the retail lending market (about 40%). ...

In 2012 the Russian credit card market grew by 82.5%, having exceeded the growth rates of 2011 (61.6%), and having exceeded twofold the total growth amount for the retail lending market (about 40%). As of 1 January, 2013 the total volume of the Russian banks’ credit card portfolio made up 671.3 billion roubles.

Statistics

Views

Total Views
1,147
Views on SlideShare
1,111
Embed Views
36

Actions

Likes
2
Downloads
11
Comments
0

2 Embeds 36

https://twitter.com 35
http://www.pinterest.com 1

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Credit card market in Russia, 2012 Credit card market in Russia, 2012 Document Transcript

  • January  29,  2013  Credit  card  market  in  Russia,  2012  The  market  size  as  of   Bank Portfolio,-billion-roubles Market-share01.01.13   Sberbank ------------------------- 149,3 22,2%671  billion  roubles  (+82,5%   Russian-Standard-Bank* ------------------------- 100,9 15,0%as  compared  to  01.01.12)   VTB24 --------------------------- 48,6 7,2% TCS-Bank --------------------------- 48,0 7,2% Orient-Express-Bank --------------------------- 45,1 6,7% Svyaznoy-Bank --------------------------- 32,5 4,8% Alfa-bank --------------------------- 30,8 4,6% OTP-Bank --------------------------- 29,9 4,5% HCF-Bank --------------------------- 19,6 2,9% Rosbank --------------------------- 15,4 2,3% *See  note  at  the  end  of  the  document  The  credit  card  market  is  on  course  for  a  trillion  In  2012  the  Russian  credit  card  market  grew  by  82.5%,  having  exceeded  the  growth  rates  of  2011  (61.6%),  and  having  exceeded  twofold  the  total  growth  amount  for  the  retail  lending  market  (about  40%).  As  of  1  January,  2013  the  total  volume  of  the  Russian  banks’  credit  card  porLolio  made  up  671.3  billion  roubles,  the  increment  for  the  year  –  303.5  billion  roubles.  Almost  the  enOre  market  growth  can  be  aPributed  to  the  top  20  top  players,  whose  porLolios  in  aggregate  have  increased  by  282.8  billion  roubles.  The  first  five  banks  have  increased  their  porLolios  by  191  billion  roubles,  the  market  leader,  Sberbank,  –  by  86.3  billion  roubles.  Among  the  20  major  credit  cards  market  players,  seven  banks  have  increased  their  porLolios  by  more  than  twofold.    Trends  and  forecasts:  •  In  2012  the  credit  cards  market  grew  by  82.5%  (in  2011–  by  61.6%);  the  total  size  made  up  671.3  billion  roubles;  •  63%  of  the  increment  is  accounted  for  by  the  5  top  leaders  of  the  market,  28.4%  of  growth  is  ensured  by  Sberbank;  •  Seven  banks  in  the  top  20  have  increased  their  porKolios  more  than  twofold  –  Sberbank,  TCS  Bank,  Svyaznoy,  Alfa   bank,  Trust,  MTS  Bank,  SKB  Bank;  •  Sberbank  increased  its  market  share  the  fastest,  growing  it  from  17.1%  to  22.2%;  •  In  2013  there  is  a  likelihood  of  a  slowdown  of  growth  down  to  50-­‐60%,  in  parScular,  due  to  levelling  out  of  the  low   base  effect;  its  size  will  approach  1  trillion  roubles.     1  
  • January  29,  2013   Credit  card  market  in  Russia,  2012   Leaders’  accelera?ng  finish   In  Quarter  IV  of  the  year  2012  the  market  growth  slowed  down  to  13.9%,   whereas  in  Quarter  III  this  figure  was  17.8%,  in  Quarter  II  –  18.3%,  in  I  –   15%.  According  to  the  results  of  the  last  three  months,  the  market  size  has   increased  by  81.8  billion  roubles.   The  most  acOve  banks  took  advantage  of  the  general  slump  in  the  growth  at   the  end  of  the  year,  in  order  to  improve  their  posiOons.  TCS  Bank  (4th  place   in  terms  of  porLolio  size)  closed  the  gap  on  VTB24  down  to  0.6  billion   rouble,  and  increased  the  market  share  in  Quarter  IV  from  6.8%  to  7.2%.   Simultaneously  VTB24  (3d  place)  whiPled  down  its  market  share  from  7.9%   to  7.2%.     Dynamics  of  credit  card   porDolios,  billion  roubles    Banks 01.01.08 01.01.09 01.01.10 01.01.11 01.01.12 01.01.13 Portfolio Market6share Portfolio Market6share Portfolio Market6share Portfolio Market6share Portfolio Market6share Portfolio Market6shareSberbank ++++++++ 0,7 0,4% ++++++++ 2,5 1,2% ++++++ 8,3 4,3% ++++ 25,4 11,2% ++++ 63,0 17,1% ++ 149,3 22,2%Russian+Standard+Bank ++++++ 88,3 49,8% ++++++ 70,9 34,5% ++++ 56,3 29,2% ++++ 49,5 21,7% ++++ 59,3 16,1% ++ 100,9 15,0%VTB24 ++++++++ 3,6 2,0% ++++++ 12,0 5,8% ++++ 19,2 10,0% ++++ 24,8 10,9% ++++ 34,5 9,4% ++++ 48,6 7,2%TCS+Bank ++++++++ 0,7 0,4% ++++++++ 4,5 2,2% ++++++ 4,9 2,5% ++++++ 9,6 4,2% ++++ 21,2 5,8% ++++ 48,0 7,2%Orient+Express+Bank ++++++++ 0,0 0,0% ++++++++ 0,2 0,1% ++++++ 1,5 0,8% ++++++ 3,1 1,4% ++++ 23,1 6,3% ++++ 45,1 6,7%Svyaznoy+Bank ++++++++ 0,0 0,0% ++++++++ 0,0 0,0% ++++++ 0,0 0,0% ++++++ 0,2 0,1% ++++ 12,4 3,4% ++++ 32,5 4,8%Alfa+bank ++++++++ 5,3 3,0% ++++++++ 8,2 4,0% ++++++ 8,6 4,5% ++++ 10,7 4,7% ++++ 13,6 3,7% ++++ 30,8 4,6%OTP+Bank ++++++++ 5,0 2,8% ++++++++ 6,8 3,3% ++++++ 6,9 3,6% ++++ 12,5 5,5% ++++ 19,1 5,2% ++++ 29,9 4,5%HCF+Bank ++++++ 20,9 11,8% ++++++ 21,7 10,5% ++++ 16,6 8,6% ++++ 11,1 4,9% ++++ 14,1 3,8% ++++ 19,6 2,9%Rosbank ++++++++ 2,9 1,6% ++++++++ 3,7 1,8% ++++++ 3,5 1,8% ++++++ 5,9 2,6% ++++ 11,2 3,0% ++++ 15,4 2,3%Citibank ++++++++ 6,8 3,8% ++++++ 10,7 5,2% ++++ 12,0 6,2% ++++ 12,9 5,7% ++++ 11,2 3,0% ++++ 12,6 1,9%Credit+Europe+Bank ++++++++ 1,3 0,7% ++++++++ 2,9 1,4% ++++++ 3,2 1,7% ++++++ 5,2 2,3% ++++++ 9,5 2,6% ++++ 11,7 1,7%Privatbank ++++++++ 1,9 1,1% ++++++++ 3,4 1,7% ++++++ 2,7 1,4% ++++++ 4,2 1,8% ++++++ 7,8 2,1% ++++ 10,5 1,6%Renaissance+Capital ++++++++ 2,6 1,5% ++++++++ 5,2 2,5% ++++++ 3,8 2,0% ++++++ 4,1 1,8% ++++++ 5,7 1,6% ++++++ 9,8 1,5%Trust ++++++++ 1,0 0,6% ++++++++ 1,0 0,5% ++++++ 0,4 0,2% ++++++ 1,4 0,6% ++++++ 3,7 1,0% ++++++ 9,7 1,4%Raiffaisenbank ++++++++ 1,0 0,6% ++++++++ 1,9 0,9% ++++++ 2,4 1,2% ++++++ 2,8 1,2% ++++++ 4,0 1,1% ++++++ 7,1 1,1%MTS+Bank ++++++++ 1,5 0,8% ++++++++ 2,5 1,2% ++++++ 2,1 1,1% ++++++ 2,1 0,9% ++++++ 2,5 0,7% ++++++ 6,4 1,0%Avangard ++++++++ 6,7 3,8% ++++++++ 9,1 4,4% ++++++ 6,1 3,2% ++++++ 4,3 1,9% ++++++ 4,2 1,1% ++++++ 6,2 0,9%Uralsib ++++++++ 1,0 0,6% ++++++++ 1,4 0,7% ++++++ 1,5 0,8% ++++++ 1,9 0,8% ++++++ 3,1 0,8% ++++++ 6,0 0,9%SKB+Bank ++++++++ 0,0 0,0% ++++++++ 0,0 0,0% ++++++ 0,0 0,0% ++++++ 0,0 0,0% ++++++ 0,1 0,0% ++++++ 5,8 0,9%Others ++++++ 26,2 14,8% ++++++ 37,2 18,1% ++++ 32,9 17,0% ++++ 36,0 15,8% ++++ 44,5 12,1% ++++ 65,2 9,7%Total 666 177,4 100,0% 666 205,8 100,0% 6 192,9 100,0% 6 227,6 100,0% 6 367,8 100,0% 6 671,3 100,0% 2  
  • January  29,  2013  Credit  card  market  in  Russia,  2012  Banks’  shares  in  the  credit  card  market     Sberbank   Russian  Standard  Bank   22,5%   22,2%   VTB24   TCS  Bank   Orient  Express  Bank   2,3%   Svyaznoy  Bank   2,9%   Alfa  bank   4,5%   15,0%   OTP  Bank   4,6%   HCF  Bank   4,8%   7,2%   Rosbank   6,7%   7,2%   Others   In  Quarter  IV  Bank  Svyaznoy  rose  from  7th  to  6th  posiOon,  having  increased   its  share  from  4.6%  to  4.8%.  Alfa  bank  rose  from  8th  to  7th  posiOon,  having   increased  its  share  from  4.1%  to  4.6%.  OTP  Bank,  which  had  given  way  to   Svyaznoy  and  Alfa,  fell  from  6th  to  8th  posiOon,  and  decreased  its  market   share  from  4.6%  to  4.5%.  Sberbank  and  Russian  Standard  remained  in  the   lead,  having  increased  their  market  shares  to  22.2%  and  15%  from  21,8%   and  14.9%  respecOvely.   According  to  the  results  of  2012,  the  ten  largest  banks  in  the  credit  cards   market  look  as  follows:  Sberbank  (with  the  porLolio  of  149.3  billion  roubles),   Russian  Standard  (100.9  billion  roubles),  VTB24  (48.6  billion  roubles),  TCS   Bank  (48  billion  roubles),  Orient  Express  Bank  (45.1  billion  roubles),   Svyaznoy  (32.5  billion  roubles),  Alfa  bank  (30.9  billion  roubles),  OTP  Bank  (30   billion  roubles),  HCF  Bank  (19.6  billion  roubles),  Rosbank  (15.5  billion   roubles).   GE  Money  Bank  lec  the  Top-­‐20  in  Quarter  IV  to  make  way  for  SKB  Bank  that   had  joined  the  twenty  for  the  first  Ome.    MTS  Bank,  which  had  joined  the   group  of  leaders  a  quarter  before,  conOnued  its  ascent  having  risen  from   20th  to  17th  posiOon  –  with  the  porLolio  of  6.4  billion  roubles.  Avangard  slid   down  from  17th  to  18th  posiOon.  The  other  banks  retained  their  posiOons  3   which  they  had  achieved  in  the  third  quarter.  
  • January  29,  2013  Credit  card  market  in  Russia,  2012   2007 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 8%944Number  of  issued       2008 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 9%296credit  cards     2009 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 8%601 2010 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 10%047 2011 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 15%026(as  of  the  end  of  the  year  and   Q3#2012 ######################################### 20#426quarter)     Survival  of  the  fiKest   In  2012,  due  to  high  compeOOon  in  the  credit  cards  market,  one  had  to  show   the  growth  that  had  to  be  much  higher  than  the  market,  so  as  not  to  yield   one’s  posiOons  to  more  acOve  players.  Seven  banks  of  the  top-­‐20  increased   their  porLolios  more  than  twofold  –  Sberbank,  Tinkoff  Credit  Systems  (TCS   Bank),  Svyaznoy,  Alfa  bank,  Trust,  MTS  Bank  and  SKB  Bank.    These  players   were  able  to  raise  their  raOngs  and  expand  their  market  share.   Sberbank,  which  led  the  raOng  at  the  end  of  2011,  did  not  ease  up  in  2012.   The  increase  of  the  porLolio  by  137.1%  to  almost  150  billion  roubles   enabled  the  bank  to  take  up  22.2%  of  the  market.  At  the  beginning  of  the   year  this  figure  was  17.1%,  the  retail  giant  was  building  up  its  share  during   the  year  faster  than  all  other  market  players.   Some  leaders  of  the  past  were  able  to  retain  their  posiOons  in  the  raOng  on   account  of  the  size,  which  had  been  gained  previously,  but  they  lost  some  of   their  market  shares.  Subject  to  the  last  year’s  results,  Russian  Standard  grew   its  porLolio  by  70.1%  (by  42  billion  roubles),  having  scaled  down  the  market   share  from  16.1%  to  15%,  and  retained  the  posiOon  in  the  2nd  line.  VTB24   accrued  41.1%  (14.2  billion  roubles),  remained  in  the  3d  line,  but  reduced   the  share  from  9.4%  to  7.2%.  Size  of  the  credit  card   800      671,3        market,  billion  roubles   700   600   500      367,8         400   300      205,8            227,6            177,4            192,9         200   100   0   2007   2008   2009   2010   2011   2012  4  
  • January  29,  2013  Credit  card  market  in  Russia,  2012   In  2012  TCS  Bank  rose  to  4th  posiOon  by  increasing  its  porLolio  by  126.5%   (by  26.8  billion  roubles).  TCS’  share  in  the  credit  cards  market  grew  from   5.8%  to  7.2%.  Orient  Express  Bank  moved  to  the  lower  posiOon  by  occupying   the  5th  place  and  increasing  its  share  from  6.3%  to  6.7%.  The  increment  of   this  bank’s  porLolio  in  2012  made  up  95.2%  (22  billion  roubles).  Bank   Svyaznoy  rose  from  9th  to  6th  posiOon  within  a  year,  on  account  of  the   increase  of  its  porLolio  by  162.5%  (by  20.1  billion  roubles).  Svyaznoy’s   market  share  swelled  from  3.4%  to  4.8%.     Alfa  bank  rose  from  8th  to  7th  posiOon  in  the  raOng  in  terms  of  the  credit   cards  porLolio,  having  succeeded  in  increasing  the  market  share  from  3.7%   to  4.6%.  The  growth  of  the  bank’s  porLolio  in  2012  made  up  126.2%  (17.2   billion  roubles).  OTP  Bank,  which  had  lost  two  posiOons,  found  itself  in  8th   place  (growth  by  56.2%),  HCF  Bank  went  down  to  9th  posiOon  from  7th   (growth  by  39.4%),  Rosbank  remained  in  10th  place  with  the  increment  of     38.3%.  Dynamics  of  the  largest  players  within  the  year,  billion  roubles    160         Sberbank    140         Russian  Standard    120         Bank    100         VTB24    80         TCS  Bank    60         Orient  Express    40         Bank    20          -­‐        5  
  • January  29,  2013   Credit  card  market  in  Russia,  2012   Among  the  second  ten  high  growth  rates  were  demonstrated  by  Trust  -­‐  with   the  increment  of    162.1%  (6  billion  roubles)  and  MTS  Bank,  which  joined  the   top  20  in  III  quarter  for  the  first  Ome,  -­‐  with  the  increment  of    152.9%  per   year  (3.9  billion  roubles).  SKB  Bank  stands  out,  taking  according  to  the   results  of  Quarter  IV  the  20th  place  with  the  porLolio  of  5.8  billion  roubles   and  the  share  of  0.9%.  Having  started  from  the  low  base  it  had  grown  by   over  4,200%.  According  to  the  results  of  2012,  Uralsib  became  the  third   newcomer  within  the  top-­‐20,  having  increased  the  porLolio  by  95.1%  (by  2.9   billion  roubles).  MDM  Bank,  Uniastrum  and  GE  Money  Bank  lec  the  top  20   last  year.   Change  of  posi?ons  among   the  top  10   1   Sberbank   2   Russian  Standard   Bank   3   VTB24   4   TCS  Bank   5   Orient  Express  Bank   6   Svyaznoy  Bank   7   Alfa  bank   8   OTP  Bank   9   HCF  Bank  10   Rosbank   6  
  • January  29,  2013  Credit  card  market  in  Russia,  2012  Quality  growth  Year  2013  expects  to  see  a  slight  slowdown  of  the  growth  rates  in  the  Russian  credit  cards  market.  The  levelling  out  of  the  low-­‐base  effect  and  the  banks’  willingness  to  maintain  high  quality  of  their  credit  porLolios  will  contribute  to  that.  The  market  sOll  has  a  high  potenOal,  only  ~17%  of  Russians  have  credit  cards,  despite  almost  90  million  of  economically  acOve  populaOon.  We  should  remind  that  the  revival  of  the  cards  market  acer  the  post-­‐crisis  plateau  began  in  the  second  half  of  year  2010.  The  trend  for  outrunning  growth  of  the  acOve  market  parOcipants  remains  stable.  There  is  a  possibility  of  slight  slowdown  of  the  growth  rates  of  the  porLolios  of  the  banks,  which  acOvely  used  the  salary  projects  resource  last  year  in  order  to  increase  the  client  base  in  terms  of  credit  cards  use.    “In  2013,  the  five  credit  cards  market  leaders,  including  TCS  Bank,  will  conOnue  to  grow  their  porLolios  at  a  fast  pace.  But  I  do  not  think  that  the  market  on  the  whole  will  be  able  to  repeat  last  year’s  growth  results  from  such  a  large  base  because  the  total  porLolio  of  the  banks  is  now  quite  significant,”  says  the  President  of  TCS  Bank  Oliver  Hughes.  “I  believe  that  we  will  see  an  overall  slowdown  of  growth  rates  to  50-­‐60%.  For  the  most  part,  the  growth  will  be  driven  by  the  5  major  players.”    Note  (*):  The  management  of  the  bank  Russian  Standard  believes  that  the  volume  of  the  bank’s  por?olio  is  larger,  since  some  “card  credits”  are  recognized  by  the  bank  in  accounts  45505  (Loans  and  other  money  provided  to  individuals  for  a  period  from  181  days  to  1  year),  45506  (Loans  and  other  money  provided  to  individuals  for  a  period  from  1  year  to  3  years),  45507  (Loans  and  other  money  provided  to  individuals  for  a  period  over  3  years).  Our  experts’  opinion  is  that  a  classical  credit  card  means  a  demand  loan.  For  the  purposes  of  the  raRng  we  recognize  the  sum  of  the  accounts  45508  (Loans  and  other  money  provided  to  individuals  on  a  call  basis)  and  45509  (Loan  provided  in  case  of  lack  of  money  in  the    deposit  account  (“overdraU”)).  PorDolio  growth    leaders  7  
  • January  29,  2013  Credit  card  market  in  Russia,  2012  This  report  is  made  by  the  specialists  of  the  Bank  Tinkoff  Credit  Systems.  For  the  purposes  of  drawing  up  the  report  the  bank  relied  on  the  informaOon  of  the  RF  Central  Bank.    On  cooperaOon  maPers  please  contact  Oleg  Anisimov  o.anisimov@tcsbank.ru    TCS  credit  cards:  hPp://www.tcsbank.ru/credit.    TCS  deposits:  hPp://www.tcsbank.ru/deposit.    TCS  debit  cards:  hPp://www.tcsbank.ru/debit/    ©  Tinkoff  Credit  Systems,  2013.  All  rights  reserved.  For  quotes  please  refer  to  the  bank  Tinkoff  Credit  Systems.    8