VTB Bank public joint stock : Financial statements

VTB BANK

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AND REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION

31 MARCH 2021

VTB BANK

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION

CONTENTS
REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION..............................................................	3
INTERIM CONSOLIDATED INCOME STATEMENT	.............................................................................................						5
INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME.........................................................	6
INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION ..................................................................	7
INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS...............................................................................		8
INTERIM									10
						..................................
SELECTED NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
1.	Principal Activities........................................................................................................................................................................						11
2.	Basis of Preparation ....................................................................................................................................................................						11
DELVING INTO NUMBERS				RISK
3.	.......................................................Analysis by Segment			21. Operating Environment of the Group ..........................	35
4-8.	Notes to Income Statement.............................................	23		22.	Fair Value Measurement .............................................	36
9-20.	Notes to Statement of Financial Position........................	25			23. Capital Management and Capital Adequacy ..............	42
OFF BALANCE-SHEET ITEMS			GROUP STRUCTURE
24.	Contingencies and Commitments....................................	43		25.	Subsequent Events ......................................................	44
OTHER INFORMATION
26.	Related Party Transactions..........................................................................................................................................................						44
27. Basic and Diluted Earnings per Share.........................................................................................................................................						45
28. Change in Presentation and Correction ......................................................................................................................................						45

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VTB BANK

INTERIM CONSOLIDATED INCOME STATEMENT

FOR THE THREE-MONTH PERIOD ENDED 31 MARCH (UNAUDITED) (IN BILLIONS OF RUSSIAN ROUBLES)

	Note	2021	2020	Change
Interest income calculated using the effective interest method	4	241.4	243.5	-0.9%
Other interest income	4	20.3	20.1	1.0%
Interest expense	4	(110.1)	(135.7)	-18.9%
Payments to deposit insurance system	4	(6.0)	(8.2)	-26.8%
Net interest income	4	145.6	119.7	21.6%
Provision charge for credit losses on debt financial assets	12	(22.2)	(42.9)	-48.3%
Net interest income after charge for credit losses		123.4	76.8	60.7%
Net fee and commission income	5, 28	38.6	32.4	19.1%
Losses net of gains arising from sale of loans at fair value through profit or
loss		(0.1)	(0.9)	-88.9%
Gains net of losses arising from other financial instruments at fair value
through profit or loss		10.6	2.9	265.5%
Gains net of losses arising from sale of financial assets at fair value through
other comprehensive income				0.1	-100.0%
(Losses net of gains) / gains net of losses arising from foreign currencies
and precious metals	6, 28	(8.0)	40.7	-119.7%
Gains net of losses arising from sale of financial assets at amortised cost		0.2	0.4	-50.0%
Other gains net of losses on financial instruments at amortised cost		0.4			n/a
Share in profit of associates and joint ventures		4.2	3.9	7.7%
Gains from disposal of subsidiaries and associates		2.1			n/a
Losses net of gains arising from extinguishment of liabilities				(0.1)	-100.0%
Provision charge for credit losses on credit related commitments and other
financial assets		(0.3)	(2.0)	-85.0%
Provision for legal claims and other commitments		(0.1)	(0.2)	-50.0%
Other operating income		2.0	0.9	122.2%
Non-interest gains		11.0	45.7	-75.9%
Revenue from operating lease of equipment		7.6	7.1	7.0%
Expenses related to equipment leased out		(4.3)	(4.0)	7.5%
Revenues less expenses from operating leasing		3.3	3.1	6.5%
Net insurance premiums earned from non-state pension fund activity		3.9	7.5	-48.0%
Net insurance claims incurred, movement in liabilities to policyholders and
acquisition costs on non-state pension fund activity		(4.8)	(6.7)	-28.4%
Revenues less expenses from non-state pension fund activity		(0.9)	0.8	-212.5%
Revenue and other gains from other non-banking activities		15.0	28.9	-48.1%
Cost of sales and other expenses from other non-banking activities	8	(14.5)	(26.2)	-44.7%
Expenses from write-down of property held for sale in the ordinary course of
business				(11.7)	-100.0%
Impairment of land, premises and intangible assets other than goodwill
used in other non-banking activities		(1.3)	(14.3)	-90.9%
Net gain/(loss) from change in fair value of investment property recognised
on revaluation or disposal		3.3	(11.8)	128.0%
Revenues less expenses from other non-banking activities		2.5	(35.1)	-107.1%
Other operating expense	28	(6.5)	(5.6)	16.1%
Staff costs and administrative expenses	7	(64.9)	(64.1)	1.2%
Non-interest expenses		(71.4)	(69.7)	2.4%
Profit before tax		106.5	54.0	97.2%
Income tax expense		(21.4)	(14.2)	50.7%
Net profit		85.1	39.8	113.8%
Net profit/(loss) attributable to:
Shareholders of the parent		85.1	45.2	88.3%
Non-controlling interests				(5.4)	-100.0%
Basic and diluted earnings per share (expressed in Russian roubles
per share)	27	0.00657	0.00349	88.3%

1-28 form an integral part of these interim condensed consolidated financial statements.

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