Financial Performance
Net profit of Gazprombank Group for the six months ended 30 June 2011 was RUR 38.1 billion compared to RUR 32.7 billion for the 1st half of 2010. Total comprehensive income for 1H2011 amounted to RUR 26.8 billion versus RUR 35.6 billion for the comparable period in 2010.
The Group’s equity increased by 9.8% to RUR 244 billion compared to year-end 2010.
Interest and commission income remain major source of the Group’s profit: normalized sustainable banking income from lending and fee-based businesses for the six months ended 30 June 2011 doubled compared to 1H2010 and reached RUR 32.5 billion. Also, in the 1H2011 the Group received one-off credit commissions in amount of RUR 12.1 billion.
Retail lending grew substantially in 1H2011: from RUR 96 billion as of the year-end 2010 to RUR 114 billion as of 30 June 2011 (an 18.8% growth).
The share of customer funds in total liabilities grew from 68.5% as of the year-end 2010 to 71.4% as of 30 June 2011. Corporate deposits grew by 3.9% compared to the year-end 2010 and reached RUR 984 billion; retail deposits increased by 9.0% to RUR 260 billion since the year-end 2010.
|
|
30 June 2011
|
31 December 2010
|
Change |
|
Total assets |
1 985.8 |
1 951.6 |
+1.8% |
|
Equity |
243.6 |
221.9 |
+9.8% |
|
Corporate loans, gross |
962.0 |
988.2 |
-2.7% |
|
Retail loans, gross |
113.8 |
95.8 |
+18.8% |
|
Investments in securities |
272.3 |
233.6 |
+16.6% |
|
Corporate accounts and deposits |
983.7 |
947.0 |
+3.9% |
|
Retail accounts and deposits |
259.9 |
238.4 |
+9.0% |
|
Eurobonds and local debt issued |
149.9 |
145.3 |
+3.2% |
|
Subbordinated deposits |
133.7 |
143.4 |
-6.8% |
|
- | |||
|
Total capital adequacy (Basel I) |
17.3% |
16.8% | +0.5% pp |
|
Tier I capital adequacy (Basel I) |
11.4% |
10.6% |
+0.8% pp |
|
Non performing loans to gross loans |
1.9% |
2.1% | -0.2% pp |
|
Impairment provision to gross loans |
4.9% |
4.7% |
+0.2% pp |
|
- | |||
|
1H2011 |
1H2010 |
Change | |
|
Net profit |
38.1 |
32.7 |
+16.7% |
|
Total comprehensive income |
26.8 |
35.6 |
-24.7% |
|
ROAE (return on average equity)* |
32.3% |
30.4% | |
|
ROAA (return on average assets)* |
3.8% |
3.7% | |
|
Net interest margin* |
3.6% |
1.9% | |
|
Cost to income* |
27.1% |
31.8% |
