General Information

 

Fact Sheet, dividends and auditors

Fact Sheet

Active in the financial market since 1993, Otkritie Bank is the largest privately-owned bank in Russia, and ranks fourth among all Russian banking groups by assets1.

 

As at 31 December 2016, the Bank and its subsidiaries had a total of RUB 2,702.7 billion (IFRS) in assets, while the Bank’s equity was RUB 232.0 billion (IFRS).

 

Otkritie is a full-service commercial bank benefiting from a resilient, diversified business structure and efficient equity management. The Bank focuses on four key business segments: retail banking, corporate and investment banking, SMEs, and private banking. Otkritie prioritises the development of high-tech services: its Rocketbank offers online-only solutions for individuals, and Tochka provides online-only banking services for corporate customers.

 

Otkritie Bank was formed through the integration of more than ten banks of various sizes, including major national institutions such as NOMOS-BANK, Khanty-Mansiysk Bank and Petrocommerce Bank.

 

Otkritie Bank’s sound credit rating is recognised by Standard & Poor’s (B+) and Moody’s (Ba3).

 

Otkritie Bank is one of the ten systemically important credit institutions according to the Russian Central Bank, and was named among the world’s major companies by Forbes Global 2000.

 

The Bank’s client base comprises more than 29,000 corporations, about 218,000 SMEs and 3.6 million individual customers (including private banking clients). Its 412 offices with varying functionality spread across 54 Russian regions of economic importance. The Bank’s business is mostly concentrated in Moscow, Saint Petersburg, the Tyumen Region (including the Khanty-Mansi Autonomous District), Yekaterinburg, the Novosibirsk Region, the Khabarovsk Region, and the Volgograd Region.

 

Otkritie Bank’s principal shareholder is Otkritie Holding with a 65.28% stake. Otkritie Holding is beneficially owned by Vadim Belyaev, IFD Kapital Group, VTB Bank, IST Holding, Ruben Aganbegyan, and Alexander Mamut. The Bank’s securities are publicly traded at the Moscow Exchange. Ruben Aganbegyan chairs the Supervisory Board of Otkritie Bank; and Evgeny Dankevich is the Chairman of the Management Board.

 

Otkritie Bank takes an active part in the implementation of various social projects by supporting sciences (Polytechnic Museum), education (Lomonosov Moscow State University, European University at Saint Petersburg), culture (support to the Maly Theatre and collaboration with Yuri Norshtein, author of The Hedgehog in the Fog cartoon), healthcare (VERA Hospice Charity Foundation), and sports (strategic partnership with the Spartak Moscow Football Club and the Ugra Ski Marathon).

 

Key Figures

 

(RUB million) 2014 2015 2016
Balance sheet items      
Total assets 2,595,863 3,363,551  2,702,748
Gross customer loans 1,825,226 2,657,058  1,937,478
Customer accounts2 1,074,805 1,262,571  1,196,311
Shareholders' equity 131,228 184,526  231,995
Total equity 157,836 216,035  231,995
Income statement items      
Net interest income 65,605 49,918 34,796
Net fee and commission income 13,192 11,658 12,863
Total revenue 67,088 99,373 84,682
Net profit 5,882 6,614 1,503
Profitability & efficiency metrics (%)      
RoAE 4.1   3.4   0.7  
RoAA 0.4 0.2 0.05  
NIM 4.5 3.8 4.4  
CIR 54.8 44.4 55.9  
Net fee & commission income/Total revenue 19.7 11.7 15.2  
Liquidity ratios (%)      
Net loans/Customer deposits3 127.7 100.9 92.7  
Net loans/Total assets 68.8 76.3 67.7  
Asset quality ratios (%)      
NPL/Gross loans 2.6 4.9 7.5  
Cost of risk 2.4 4 3.3  
Provisions/Gross loans 2.2 3.4 5.6  
Capitalisation ratios (%)      
Tier 1 ratio 8.3 10.6 12.3  
Total capital ratio 12.4 15.7 17.6  

 

According to the Interfax-CEA rating based on the RAS financial statements for 2016
2 Including promissory notes to clients
3 Including promissory notes to clients, excluding jumbo REPO transactions

 

Dividends

Up to date Otkritie FC Bank has not paid dividends to shareholders and reinvested its profit in order to contribute to the achievement of the Bank’s objective to maximise its business expansion.

Resolutions to pay dividends and/or otherwise use the available profit are passed by General Shareholders’ Meetings based on recommendations made by the Supervisory Board.

Otkritie FC Bank Regulation on the Dividend Policy was approved on April 7, 2015, by the Supervisory Board.

Auditors

The auditing firm currently appointed by Otkritie FC Bank as its external independent auditor is Ernst & Young LLC whose address is as follows:

77, bld. 1, Sadovnicheskaya Nab.
Moscow, 115035, Russia
Tel: +7 (495) 705-9700, +7 (495) 755-9700
Fax: +7 (495) 755-9701
www.ey.com/ru