Bank Saint Petersburg 1Q2011 IFRS Results

Образец заголовка
• Образец текста
BANK SAINT PETERSBURG
• Второй уровень
1Q 2011 IFRS Results
• Третий уровень
• Четвертый уровень
• Пятый уровень

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June 9, 2011


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Summary –
Образец заголовка Bank Saint Petersburg at a glance
 A leading privately-owned universal bank in St. Petersburg and the Leningrad region
Regional leader
 St. Petersburg market share as at April 1, 2011*:
• Assets: 12.8%
• Loans: 16.0% - corporate, 4.8% - retail
• Второй уровень • Deposits: 11.1% - corporate, 8.1% - retail

Focused on
North-West
As at April 1, 2011
 Client base: over 1 million retail and 35 thousand corporate customers
 36 branches and outlets (primarily in St. Petersburg), 472 ATMs
As at April 1, 2011:

• Пятый уровень 16th largest bank by assets and 15th by retail deposits among the Russian banks**
 Ratings: Moody’s Ba3 (Stable outlook)
 Total assets: RUB 282.4 bn (USD 9.9 bn)
Selected financial  Total capital: RUB 37.4 bn (USD 1.3 bn)
and operational  Net income: RUB 2.1 bn (USD 73.3 mln)
 Cost/Income ratio: 26.2%
results  ROAE: 28.6%
 Total capital adequacy: 12.7%
 2,488 employees

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* Association of North-West banks, Bank Saint Petersburg own estimates
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** Interfax

Образец заголовка Key indicators
Q-o-Q / Apr 1, 2011 – Jan 1, 2011 Apr 1, 2011 – Apr 1, 2010

Net Income
RUB 2.1 bn (USD 73.3 mln) for 1Q 2011
+ 497.5% compared with 1Q 2010

+ 15.2% compared with 4Q 2010

RUB 282.4 bn (USD 9.9 bn)
Assets
• Третий уровень + 3.6% compared with Jan 1, 2011 + 21.7% compared with Apr 1, 2010

Total capital RUB 37.4 bn (USD 1.3 bn)
+ 4.4% compared with Jan 1, 2011 + 12.9% compared with Apr 1, 2010

Loan portfolio RUB 212.8 bn (USD 7.5 bn)
+ 5.2% compared with Jan 1, 2011 + 19.5% compared with Apr 1, 2010

Customer deposits* RUB 200.0 bn (USD 7.0 bn)
- 1.1% compared with Jan 1, 2011 + 15.6% compared with Apr 1, 2010

Cost/Income Ratio for 1Q 11 – 26.2%
Key ratios ROAE for 1Q 11 – 28.6%
Capital Adequacy as at April 1, 2011 – 12.7%
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* Customer accounts are calculated as a sum of customer deposits and promissory notes and bills of exchange (other debt securities in issue)

Образец заголовкаTable of contents
• Пятый market position
I. Bank’s
уровень
II. Financial highlights and business overview
III. Recent developments and prospects

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Образец заголовка Strong Franchise
Client base, thou Market share in St. Petersburg as at April 1, 2011: Retail banking*
35
35
35

35 9,5% 9,7%
8,7%
7,8% 8,1%
31 7,1%
6,3% 6,1%
1 050

1 000 5,2% 4,8%
900
774
581

2007 2008 2009 2010 1Q 2011 YE 2007 YE 2008 YE 2009 YE 2010 1Q 2011
Retail loans Retail deposits
Retail Corporate

• Пятый share as at April 1, 2011*
Loans, market уровень Market share in St. Petersburg: Corporate banking*
Bank Saint
15,7% 16,1% 16,0%
Petersburg
13% 13,9%
VTB Group 12,9% 11,9%
11,8% 10,7%
13% 10,7% 11,1%
Sberbank
20%

Bank "Russia"
11%

CIT Finance
5%
Others
35% Baltinvestbank
3%
YE 2007 YE 2008 YE 2009 YE 2010 1Q 2011
Corporate loans 6
Corporate deposits
5
* Central Bank of Russia, Association of North-West banks, Bank Saint Petersburg own estimates

I. Bank’s
уровень
II. Financial highlights and business overview

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Образец заголовка 2010 – 1Q 2011
Financial Highlights, QoQ

Assets, RUB, bn Capital, RUB, bn
+ 3.6% + 4.4%
282,4 37,4

272,6 35,9
33,5 34,5
247,4 33,1
232,1 239,5

April 1, 2010 July 1, 2010 October 1, 2010 January 1, 2011 April 1, 2011 April 1, 2010 July 1, 2010 October 1, 2010 January 1, 2011 April 1, 2011

• Пятыйdynamics, RUB, mln
Income
уровень Income and expenses data*, RUB, mln

3 268 4 325 4 267
3 085 2 993 2 969 2 978 3 513 3 569
3 343
2 780

1 085 1 202 1 119
1 185 1 304
886 859 998
337 426 417 535 439 515
48 673
-150 118 49

1Q 10 2Q 10 3Q 10 4Q 10 1Q 11 1Q 10 2Q 10 3Q 10 4Q 10 1Q 11

Net Interest Income Net Fee and Commision Income Net Trading Income Revenues Operating expenses Provisions
8
* FY 2010 results calculation: the loss on loans granted at below market rates in the amount of RUB 525 mln is included in provisions; 7
1Q 2011 results calculation: the gain on loans granted at below market rates in the amount of RUB 69 mln is included in provisions

Results for 1Q 2011

Cost/income and NIM Operating expenses, RUB, mln

162
40,0
34,2% 35,8% 6,0%
143

5,6% 32,5% 168
142
30,0 26,2% 5,5% 420 588
119 318
19,9% 5,4% 441
280 1 305
20,0 5,0% 1 201

5,1% 1 085 1 119
5,0% 859
638 554 633
10,0 4,7% 4,5% 460 502

0,0 4,0%

1Q 10 2Q 10 3Q 10 4Q 10 1Q 11
1Q 10 2Q 10 3Q 10 4Q 10 1Q 11

Cost/Income NIM Staff costs Other administrative and operating expenses
Expenses related to premises and equipment

• Пятый dynamics, RUB, mln
Net income уровень Comments
3000,00 40,00%
● Record quarterly Net Income
28,6%
26,0% 30,00%
2000,00
● ROAE well above the target
17,9% 2 090
12,2%
1 815 20,00% ● NIM rebound
1000,00
5,6% 1 173 10,00%
777

0,00
350 0,00%

1Q 10 2Q 10 3Q 10 4Q 10 1Q 11

Net Income ROAE 9
8

Interest Rates and Assets/Liabilities Ratios
Average interest rates on the assets side** Average interest rates on the liabilities side*

11,3%
15,9% 10,3%
9,8% 9,9% 9,8% 9,7%
15,0% 14,8% 14,8%
14,5% 9,3% 9,3% 9,0%
14,2% 14,1% 9,8%
8,4% 9,6%

13,1% 9,1% 9,0% 7,9%
14,4%
13,7% 8,7% 7,2%
13,2% 12,0% 8,1% 8,1% 8,1%
7,9% 7,9%
12,7% 13,0% 12,7% 10,8% 7,4%
5,6% 6,5%
12,4% 7,2%
11,7% 10,3% 10,3% 6,9% 6,9% 6,7%
6,5%

11,0% 6,1% 6,0% 6,0%
9,9% 5,1%
9,4% 5,0% 4,7%
9,3%
2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11
2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11

Average interest on term corporate deposits Average interest on term retail deposits
Average interest rate on loans Average interest rate on IEA Average interest on liabilities

Average Interest Earning Assets (IEA) and Interest Bearing Liabilities (IBL), RUB, bn Comments
265,2
253,0 246,7
250,0
216,3 224,5 223,4 231,2 231,3  Interest rates stable on the asset side
209,5 216,4
197,9 207,6
197,4 201,8
196,5 203,7
200,0 173,7179,7 178,7
189,0  Loans to deposits ratio is 96.3% - room for
141,9
135,3
161,7
155,8
leverage is still in place
150,0

102,8% 100,5%
100,0 99,0% 99,2% 99,7%
98,4% 96.3%
94,9%
92,3% 92,3%
50,0 90,4%
87,4%
0,0 80,0%
2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11

Average IEA Average IBL Loans/Deposits Ratio 10
* Average liabilities: due to banks, customer accounts including current accounts, debt securities in issue 9
** Average assets: loans, due from banks, securities portfolio, correspondent accounts

ОбразецMain Factors affected NIM in 1Q 2011
заголовка
4Q 2010 NIM – 4.67%

Average interest rate Average balance

Contribution to NIM change: Contribution to NIM change:

Loans and advances to customers + 17 bp
Retail term deposits + 15 bp

Trading securities portfolio + 7 bp

Corporate term deposits + 13 bp

Corporate term deposits -11 bp
+ 28 bp

• Пятый уровень Retail term deposits - 5 bp

Bonds in issue - 5 bp

+ 3 bp

Other factors + 2 bp

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4Q 2010 NIM – 5.00% 10

Образец заголовка 1Q 2010 – 1Q 2011
Financial Summary (RUB), q-o-q,

•
RUB bn
Образец текста
Loans and Advances to Customers
1Q 2010

159.61
2Q 2010

157.62
3Q 2010

176.25
4Q 2010

182.82
1Q 2011

192.58

Total Assets

Customer Deposits*
232.08

172.95
239.46

175.23
247.43

179.04
272.61

202.17
282.43

200.01

Total Liabilities 206.44 213.88 220.68 244.04 251.78

Total Shareholders’ Equity 25.63 25.58 26.75 28.56 30.66

Total Capital 33.15 33.53 34.50 35.87 37.43

Net profit

Net Interest margin
0.35

5.57%
0.77

5.38%
1.17

5.09%
1.82

4.67%
2.09

5.00%

Capital Adequacy

Cost-to-Income ratio
14.35%

19.86%
14.35%

32.52%
13.73%

34.21%
12.96%

35.80%
12.65%

26.21%

Allowance for loan imp. / Gross loans 10.37% 11.05% 10.30% 9.61% 9.48%

Loans / Deposits 92.29% 92.29% 98.44% 90.43% 96.29%

ROAA 0.61% 1.32% 1.91% 2.77% 3.05%

ROAE 5.57% 12.08% 17.78% 26.03% 28.63%

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Loan portfolio and quality
Loan portfolio and allowance for loan impairment Loan portfolio by sector, April 1, 2011

210 • Образец текста 174,1 178,1 177,2
196,5 202,3
212,8
14

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Health and Other
entertainment 8,2%
Transport 2,8%
Heav y machinery
and ship-building
14,4%
180 159,4 3,9%
150,0 155,2
150
• Второй уровень 10,4%
11,1%
10,3%
10 Production and f ood
RUB bn

9,6% 9,5% industry
8

(%)
120 9,1% 5,1% Trade
8,5%
12,6%
90 7,3% 6 Gov ernment

6,0% f inanced
60 4 5,3%

30 2 Indiv iduals
6,8%
0 0 Construction

Apr 1, 09 Jul 1, 09 Oct. 1, 09 Jan 1, 09 Apr 1, 10 Jul 1, 10 Oct 1, 10 Jan 1, 11 Apr 1, 11 Oil and gas 12,2%
8,9%
Loan portfolio Allowance for impairment / Gross loans
Financial serv ices Real estate
Provision charge (RUB mln)** and problem loans, % 9,3% 10,5%

3000
3 086
2 737 2 780
15 Comments
2 384 2 305  Loan portfolio growth in 1Q 2011:
8,6% 10 Before provisions: +5.2% compared with January 1, 2011
2000 7,5% 7,9% 7,4% After provisions: +5.3% compared with January 1, 2011
6,7% 7,1%
5,9% 6,3%
5,9%
6,9% 7,1% 6,9%  As at April 1, 2011:
6,6% 6,3% 5,8% 5
1000 5,2%
1 185 5,1% - Corporate overdue loans – 4.97% (4.80% as at January 1, 2011)
4,5%
- Retail overdue loans – 8.28% (8.77% as at January 1, 2011)
998 673
48
0 0
Apr 1, 09 Jul 1, 09 Oct. 1, 09 Jan 1, 09 Apr 1, 10 Jul 1, 10 Oct 1, 10 Jan 1, 11 Apr 1, 11
 RUB 0.9 mln of the loan portfolio written off in 1Q 2011

Provision charge Overdue loans / Gross loans
Impaired not past due* / Gross loans 13
* Ratios for April 1, July 1, and October 1, 2009 are ratios for restructured loans 12
** 4Q 2010 results calculation: the loss on loans granted at below market rates in the amount of RUB 525 mln is included in allowance; 1Q 2011 results calculation: the gain on loans granted at below
market rates in the amount of RUB 69 mln is included in allowance

Образец заголовкаliabilities structure
Assets and

Assets structure, April 1, 2011 Liabilities structure, April 1, 2011

• Второй уровень Amounts receivable
under reverse
repurchase Due from other banks Due to other banks; Other; 0,5%
1,9% 7,8%
agreements

Cash & cash
equivalents 1,9%
Capital markets;
5,0%
10,1%
Fixed and other

assets
7,0% Shareholders'
equity; 10,9%
Customer accounts
(corporates);
45,5%
Securities portfolio

16,0%
Loans and advances Customer accounts
to customers (individuals);
68,2% 25,3%

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Capital and funding

Capital adequacy, % Repayment schedule for 2011-2014, USD, mln
16,4%
15,2%
14,1%
436

12,3% 13,0% 12,7%
10,7%
9,7% 9,6% 9,7%
268

• Третий уровень 87 78

• YE 2007
Четвертый уровень
YE 2008

Total Capital ratio
YE 2009 YE 2010

Tier 1 Capital ratio
1Q 2011 2011 2012 2013 2014

Risk-weighted assets (RWA)*, RUB, bn Comments
29,0
26,9
50,5  Additional ordinary shares issue in the pipeline
43,0
9,5
32,1  Revaluation of c. 3% stake in the MICEX expected
4,0
5,2
295,8
276,8
5,1 218,6 206,9 216,3
9,7
162,0 177,0
171,2
97,9 112,7

YE 2007 YE 2008 YE 2009 YE 2010 1Q 2011

RWA - banking book RWA - trading book RWA - off-balance-sheet 15
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I. Bank’s
уровень
II. Financial highlights

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Образец заголовка New Share Issue (1)
Details on the

On June 7, 2011, the Supervisory Board of Bank Saint Petersburg took the decision

• Образец текста on the New Issue of Ordinary Shares

Rationale for the Issue

The EBRD is a key investor

- the Bank’s management and a number of minorities have expressed their intent not to exercise their pre-emptive rights in favor of the EBRD;
- the EBRD intends to participate in the offering up to RUB 2.75 billion; its potential ownership will amount to 6% of the Bank’s ordinary shares
(5% after the type A preference shares conversion in 2013)

The EBRD consents to the repayment of the USD 75 million subordinated loan in case of the participation in
the Bank’s new share issue

- Potential savings on tax and interest expenses in the amount up to USD 30 million;

- Contractual maturity of the subordinated loan is 2019 with a call option in July 2014

Capital enhancement not a priority

April 1, 2011 Expected capital adequacy after the placement
provided that subordinated loan is repaid

Tier 1 - 9.7% Tier 1 - 10.6% - 10.9%

Total capital adequacy - 12.7% Total capital adequacy – 12.8% - 13.1%
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Образец заголовка New Share Issue (2)
Details on the

Indicative terms and conditions

 June 7, 2011 - Decision of the Supervisory Board of the Bank on the New Issue of Ordinary Shares. The issue will be placed
under the following terms and conditions:

Number of shares to be issued – 24,000,000;

Type of offering – open subscription;

Form of payment for the shares - Russian roubles

Maximum gross proceeds from the offering: RUB 3.5 bn (USD 125.7 mln)

Preliminary schedule:
 Cut-off date: June 7, 2011;

 The offerings under the pre-emptive rights execution will be accepted from the end of July till mid September 2011:
- The offerings can be either submitted to the Bank along with the necessary documents or the underwriter can be contacted
to purchase the shares;

 The Issue is expected to be registered with the CBR in October 2011

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Bank Saint Petersburg 1Q2011 IFRS Results

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