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OFFON

VTB BANK (PUBLIC JOINT-STOCK COMPANY)

(VTBR)
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VTB Bank public joint stock : Group IFRS Unaudited Financial Highlights as of 31 July 2021

08/30/2021 | 03:12am EDT

VTB Group IFRS Unaudited Financial Highlights

P&L highlights (in RUB bn)

y-o-y

y-o-y

Net interest income

55.0

45.4

21.1%

361.0

297.4

21.4%

Net fee and commission income

14.6

12.0

21.7%

98.7

72.8

35.6%

Other operating income

0.0

13.3

-100.0%

15.0

-9.0

266.7%

Net operating income before provisions

69.6

70.7

-1.6%

474.7

361.2

31.4%

Provision charge for credit losses and other provisions

-9.2

-48.7

-81.1%

-63.5

-162.6

-60.9%

Staff costs and administrative expenses

-23.3

-21.1

10.4%

-158.9

-150.2

5.8%

Profit before tax

37.1

0.9

4022.2%

252.3

48.4

421.3%

Income tax expense

-6.9

0.2

-3550.0%

-51.4

-5.4

851.9%

Net profit

30.2

1.1

2645.5%

200.9

43.0

367.2%

Performance indicators

y-o-y

y-o-y

NIM

3.8%

3.8%

0 b.p.

3.8%

3.8%

0 b.p.

NCM

0.9%

0.9%

0 b.p.

0.9%

0.8%

10 b.p.

CoR

0.8%

4.9%

-410 b.p.

0.8%

2.2%

-140 b.p.

CIR

33.5%

29.7%

380 b.p.

33.5%

41.6%

-810 b.p.

Cost / Assets

1.4%

1.5%

-10 b.p.

1.4%

1.6%

-20 b.p.

ROA

1.8%

0.1%

170 b.p.

1.8%

0.5%

130 b.p.

ROE

17.6%

0.8%

1680 b.p.

18.3%

4.3%

1400 b.p.

The unaudited financial information set forth above represents management data which has been prepared on the basis consistent with IFRS, however its preparation involves approximations and where relevant extrapolation of quarter-end data. It is preliminary

Some of the information in this release may contain projections or other forward-looking statements regarding future events or the future financial performance of the Group. Such forward-looking statements are based on numerous assumptions regarding the

with certainty, and the actual outcomes and results may materially differ from what is expressed or forecasted in the forward-looking statements. These forward-looking statements speak only as at the date of this release and are subject to change without notice. These statements will not be updated to make them conform with actual results.

VTB Group IFRS Unaudited Financial Highlights

Balance sheet highlights (in RUB bn)

7/31/2021

6/30/2021

m-o-m

12/31/2020

ytd

Cash and short-term funds

1,269.9

1,300.0

-2.3%

1,229.5

3.3%

Financial assets

2,509.5

2,512.2

-0.1%

1,833.5

36.9%

Due from other banks, including pledged under repurchase agreements

942.4

956.4

-1.5%

837.9

12.5%

Loans and advances to customers, including pledged under repurchase agreements (gross)

14,109.9

13,782.2

2.4%

13,162.6

7.2%

- Loans to legal entities, gross

9,766.7

9,506.8

2.7%

9,305.4

5.0%

- Loans to individuals, gross

4,343.2

4,275.4

1.6%

3,857.2

12.6%

Allowance for loan impairment

-924.2

-911.3

1.4%

-898.2

2.9%

Other assets

2,022.7

2,009.8

0.6%

1,976.9

2.3%

Total assets

19,930.2

19,649.3

1.4%

18,142.2

9.9%

Due to other banks and Other borrowed funds

1,591.0

1,925.0

-17.4%

2,146.2

-25.9%

Customer deposits

14,945.4

14,360.2

4.1%

12,831.0

16.5%

- Deposits from legal entities

9,001.8

8,448.1

6.6%

7,095.1

26.9%

- Deposits from individuals

5,943.6

5,912.1

0.5%

5,735.9

3.6%

Debt securities issued

170.4

163.8

4.0%

215.7

-21.0%

Subordinated debt

321.7

317.6

1.3%

316.7

1.6%

Other liabilities

857.0

888.5

-3.5%

910.0

-5.8%

Total liabilities

17,885.5

17,655.1

1.3%

16,419.6

8.9%

Total equity

2,044.7

1,994.2

2.5%

1,722.6

18.7%

Balance sheet and asset quality indicators

7/31/2021

6/30/2021

m-o-m

12/31/2020

ytd

NPL ratio

4.8%

4.8%

0 b.p.

5.7%

-90 b.p.

NPL coverage

137.3%

136.9%

40 b.p.

120.6%

1670 b.p.

LDR

88.2%

89.6%

-140 b.p.

95.6%

-740 b.p.

Leverage

8.7

8.9

-2.2%

9.5

-8.4%

The unaudited financial information set forth above represents management data which has been prepared on the basis consistent with IFRS, however its preparation involves approximations and where relevant extrapolation of quarter-end data. It is preliminary and subject to adjustments and modifications that may be identified when preparing quarter-

statements.

operate in the future. These statements are not guarantees of future performance and involve risks, uncertainties and other important factors which cannot be predicted with certainty, and the actual outcomes and results may materially differ from what is expressed or forecasted in the forward-looking statements. These forward-looking statements speak only as at the date of this release and are subject to change without notice. These statements will not be updated to make them conform with actual results.

VTB Group IFRS Unaudited Financial Highlights (Analysis by Segment)

P&L highlights

CIB

Medium and Small

Retail

Treasury

Corporate center

Other (1)

Total

(in RUB bn)

business

Net interest income before treasury result allocation

109.1

40.3

127.8

94.1

-

-10.3

361.0

Treasury result allocation

21.8

7.9

18.8

-73.3

24.2

0.6

-

Net interest income, including treasury result allocation

130.9

48.2

146.6

20.8

24.2

-9.7

361.0

Net fee and commission income

21.8

18.7

54.4

3.6

-

0.2

98.7

Other operating income / (expense)

49.4

2.0

-14.3

15.0

-23.9

-6.1

7.9

Net operating income before provisions

202.1

68.9

186.7

0.5

18.1

-1.6

474.7

(Provision charge) / reversal of provision for credit losses

-22.1

-5.6

-35.0

-0.5

-

-0.3

-63.5

on debt financial assets and other provisions

Staff costs and administrative expenses

-43.7

-26.1

-62.9

-

-21.8

-4.4

-158.9

Segment result: profit before taxation

136.3

37.2

88.8

-

-3.7

-6.3

252.3

Income tax expense

-2.6

-27.1

-7.2

-16.4

-

1.9

-51.4

Net profit / (loss)

109.2

30.0

72.4

-

-1.8

-8.9

200.9

Balance sheet highlights

Medium and Small

Retail

Treasury

Corporate center

Other (1)

Total

(in RUB bn)

business

Cash and short-term funds

62.3

7.9

168.7

1,031.0

-

-

1,269.9

Due from other banks

540.7

0.1

2.9

398.7

-

-

942.4

Loans and advances to customers (net)

7,441.6

1,532.8

4,005.2

268.6

2.9

13,185.7

-65.4

Loans and advances to customers (gross)

7,848.8

1,691.5

4,283.1

283.6

2.9

14,109.9

-

Allowance for loan impairment

-407.2

-158.7

-277.9

-15.0

-65.4

-

-924.2

Other financial instruments

981.6

0.8

292.4

1,226.2

0.3

8.2

2,509.5

Other assets items

976.1

127.3

389.4

169.8

54.0

306.1

2,022.7

Net amount of intersegment settlements

-

563.0

1,264.8

725.4

147.5

-2,700.7

-

Segment assets

10,002.3

2,231.9

6,123.4

3,819.7

136.4

-2,383.5

19,930.2

Due to other banks and other borrowed funds

679.2

2.6

9.8

899.4

-

-

1,591.0

Customer deposits

5,603.2

1,951.4

5,125.1

2,264.0

-

1.7

14,945.4

Debt securities issued

6.9

17.9

114.4

31.2

-

-

170.4

Subordinated debt

-

-

-

321.7

-

-

321.7

Other liabilities items

380.4

33.6

361.2

19.7

22.8

39.3

857.0

Net amount of intersegment settlements

2,385.5

-

-

-

-

-2,385.5

-

Segment liabilities

9,055.2

2,005.5

5,610.5

3,536.0

22.8

-2,344.5

17,885.5

(1) Including segment "Other" and intersegment eliminations

The unaudited financial information set forth above represents management data which has been prepared on the basis consistent with IFRS, however its preparation involves approximations and where relevant extrapolation of quarter-end data. It is preliminary and subject to adjustments and modifications that may be identified when preparing quarter-end and/or year-end consolidated financial

guarantees of future performance and involve risks, uncertainties and other important factors which cannot be predicted with certainty, and the actual outcomes and results may materially differ from what is expressed or forecasted in the forward-looking statements. These forward-looking statements speak only as at the date of this release and are subject to change without notice. These statements will not be updated to make them conform with actual results.

P&L highlights

Long-term Investments

Non-bank digital assets

Credit workout assets

(in RUB bn)

CIB

Medium and Small

Retail

Corporate

Other

business

centre

Net interest income before treasury result allocation

-5.9

-

0.8

-

-10.0

Treasury result allocation

0.3

-

-

-

0.6

Net interest income, including treasury result allocation

-5.6

-

0.8

0.0

-9.4

Net fee and commission income

-

-

-

-

0.4

Other operating income / (expense)

22.7

-0.1

-1.0

-0.1

13.1

Net operating income before provisions

17.1

-0.1

-0.2

-0.1

4.1

(Provision charge) / reversal of provision for credit losses on debt financial assets and other provisions

-

-

-

-

-0.3

Staff costs and administrative expenses

-0.1

-

-

-

-2.3

Segment result: profit before taxation

17.0

-0.1

-0.2

-0.1

1.5

Income tax expense

-2.7

-

-

-

-4.1

Net profit / (loss)

14.3

-0.1

-0.2

-0.1

-2.6

Balance sheet highlights

Long-term Investments

Non-bank digital assets

Credit workout assets

(in RUB bn)

CIB

Medium and Small

Retail

Corporate

Other

business

centre

Cash and short-term funds

-

-

-

-

-

Due from other banks

-

-

-

-

-

Loans and advances to customers (net)

48.1

-

-

-

2.9

Loans and advances to customers (gross)

48.2

-

-

-

2.9

Allowance for loan impairment

-0.1

-

-

-

-

Other financial instruments

46.6

-

-

-

8.2

Other assets items

255.2

0.9

2.6

1.7

200.6

Net amount of intersegment settlements

-

0.3

30.8

-

-

Segment assets

349.9

1.2

33.4

1.7

211.7

Due to other banks and other borrowed funds

-

-

-

-

-

Customer deposits

11.2

-

30.8

-

1.7

Debt securities issued

-

-

-

-

-

Subordinated debt

-

-

-

-

-

Other liabilities items

44.5

0.1

0.3

-

39.3

Net amount of intersegment settlements

307.2

-

-

-

215.9

Segment liabilities

362.9

0.1

31.1

-

256.9

Definitions

Net operating income before provisions

NIM

NCM

Provision charge for credit losses and other provisions

CoR

CIR

NPL ratio

LDR

Calculated including profit from subsidiaries acquired exclusively with a view to resale

Net interest income divided by average interest earning assets, which include gross loans and advances to customers, due from other banks (gross), debt securities and correspondent accounts with other banks

Net commission income divided by average total assets

Provision charge for credit losses on debt financial assets and on other financial assets and credit related commitments and provision for legal claims

Provision charge for loan credit losses divided by average gross loans and advances to customers

Staff costs and administrative expenses divided by operating income before provisions, excluding profit from subsidiaries acquired with a view to resale

The Group defines non-performing loans (NPL) as lifetime expected credit losses (ECL) credit-impaired loans with contractual principal and or interest payments overdue more than 90 days and purchased or originated credit impaired (POCI) loans with principal and or interest payments becoming overdue more than 90 days after the date of initial recognition.

Net loans divided by customer deposits

Leverage

Total liabilities divided by total equity

Disclaimer

OAO Bank VTB published this content on 30 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2021 07:11:04 UTC.


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Financials
Sales 2021 795 B 11 190 M 11 190 M
Net income 2021 226 B 3 183 M 3 183 M
Net Debt 2021 - - -
P/E ratio 2021 3,43x
Yield 2021 10,7%
Capitalization 694 B 9 783 M 9 768 M
Capi. / Sales 2021 0,87x
Capi. / Sales 2022 0,82x
Nbr of Employees 77 211
Free-Float -
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Technical analysis trends VTB BANK (PUBLIC JOINT-STOCK COMPANY)
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 107,09 RUB
Average target price 113,01 RUB
Spread / Average Target 5,52%
EPS Revisions
Managers and Directors
Andrey Leonidovich Kostin Chairman-Management Board & President
Dmitriy Grigorenko Chairman-Supervisory Board
Artur Matthias Warnig Member-Supervisory Council
Igor Nikolayevich Repin Independent Member-Supervisory Council
Yves-Thibault de Silguy Independent Member-Supervisory Board