General Information

 

Fact Sheet, dividends and auditors

Fact Sheet

Otkritie bank is one of the systematically important financial institutions acknowledged by the Central Bank of the Russian Federation. The Bank has been working in the financial market since 1993.
 

On August 29, 2017 the Central Bank of the Russian Federation (Bank of Russia) announced implementation of measures on improving the bank's financial stability and appointed a temporary administration of Otkritie bank. On September 15, 2017 Bank of Russia approved its participation plan in Otkritie bank’s financial rehabilitation. Among other measures there are capital increase of the Bank via Banking Sector Consolidation Fund (BSCF) and provision of liquidity support that will contribute to the Bank’s further development. In accordance with the announced measures the Central Bank of the Russian Federation will become the controlling shareholder of Otkritie bank with at least 75% interest in its equity. Bank of Russia guarantees a going concern of Otkritie bank that continues its operations in an ordinary course fulfilling its obligations owed to clients and carrying out transactions.
 

Otkritie bank is a universal commercial bank with diversified business structure. The Bank develops the following key business areas: corporate, investment, retail, small business and Private Banking.
 

Otkritie bank is a parent company of a universal financial group, which combines Trust Bank and Rosgosstrakh bank, as well as companies which hold leading positions in the key segments of the Russian financial market: Rosgosstrakh Insurance Company (insurance business), LUKoil-Garant Non-state Pension Fund, Elektroenergetiki Non-state Pension Fund, RGS Non-state Pension Fund (pension funds asset management) and Otkritie Broker (brokerage services). 
 

The client base of Otkritie bank comprises more than 270,000 of legal entities and about 3.6 million of individuals, including high net worth individuals. The Bank has more than 400 offices of different forms, which are located in 59 economically important regions of Russia. The large portion of business is accounted for Moscow, Saint Petersburg, Tyumen Region (including Khanty-Mansiysk Region), Yekaterinburg, Novosibirsk Region, Khabarovsk and Volgograd Regions.
 

Otkritie bank is rated by international rating agencies S&P Global (В+) and Moody’s Investors Service (B2), as well as by Russian Analytical Credit Rating Agency (ACRA) BBB-(RU).

 

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