CREDIT BANK OF MOSCOW (the «Bank») has reported its preliminary results for January 2018 in accordance with Russian Accounting Standards.
All figures stated herein do not reflect any subsequent events.
The net income after taxation for January 2018 was RUB 2.0 bln, having grown by 1.7% yoy.
The Bank’s total assets reached RUB 1,900.2 bln as of 1 February 2018, having increased by 3.8% in January.
The total retail and corporate loan portfolio, including repos, expanded by 4.4% in January to RUB 1,664.7 bln, of which 94% is attributable to corporate loans, and 6% to retail loans. The growth was driven by corporate lending which increased by 4.7% in that month.
The customer deposits decreased by 1.6% in January 2018 to RUB 1,019.8 bln as the corporate deposits shrank by 2.9% to RUB 729.7 bln upon redemption of CBOM Finance PLC’s USD 500 mln senior Eurobond issue at maturity. The retail deposits increased by 1.8% to RUB 290.1 bln.
The Bank’s capital adequacy ratios as of 1 February 2018 were: N1.1 — 8.7%, N1.2 — 12.1%, N1.0 — 21.4%, having increased notably from 1 January 2018: N1.1 — 8.3%, N1.2 — 11.6%, N1.0 — 20.5%. The N1.1 and N1.2 ratios do not yet reflect the income for 4Q2017, which will be recognised as a part of the base capital upon completion of the 2017 annual audit. The total capital calculated in accordance with Basel III was RUB 250.2 bln as at the reporting date.