Assets of Petrocommerce Banking Group Increased to RUR 199.7 bln
OREANDA-NEWS. June 8, 2012. The assets of Petrocommerce Banking Group (the "Group") increased by RUR 18.6 bln, or 10%, to RUR 199.7 bln as of 01.01.2012. The key driver behind the asset growth was the expansion of the lending volume, first and foremost, factoring and retail.
The Group’s loan portfolio increased by 23%, or RUR 26.5 bln, to RUR 142.2 bln as of 01.01.2012 (excluding reverse repo transactions, before provisions for loan impairment), with the factoring portfolio growing by RUR 6.6 bln, or 88%, to RUR 14.2 bln, while retail loans went up by RUR 4.5 bln, or 49%, to RUR 13.8 bln as of 01.01.2012. The commercial loan book augmented by 16%, or RUR 15.4 bln, to RUR 114.2 bln. The above trends resulted in the changes of the loan portfolio composition: the share accounting for the retail segment increased from 8.0% as at year-start to 9.7% as at year-end, while the proportion constituted by the factoring portfolio grew from 6.5% to 10.0%, with the share of commercial loans decreasing from 85.4% to 80.3%. The above results comply with the Group’s strategic plans.
Besides, the Group achieved remarkable results in dealing with non-performing loans — the volume of loans, that are in arrears by more than 90 days, went down by 13% to 9.8% of the total loan portfolio as at year-end 2011 (13.6% as of 01.01.2011), with the provisioning ratio being 12.6%.
Customer accounts and deposits remained the backbone of the Group’s funding, with the share thereof in the Group’s liabilities going up from 77% as at year-start to 82% as at year-end 2011, or RUR 140.6 bln (yoy growth rate of 19%). Increase in individual and corporate customer funding was mainly driven by expansion of term deposits by 29%, with the share thereof going up to 74% of total customer funding (68% in 2010).
As of 01.01.2012, the Group’s equity amounted to RUR 28.1 bln, up by 1.3%. Tier 1 capital adequacy ratio is at a high level — 16.2%, while total capital ratio is 18.8%.
In 2011, net interest income augmented from RUR 5.7 bln to RUR 6.3 bln, up by 11% as compared with 2010, while net fee and commission income went up by 7.8% from RUR 1.7 bln to RUR 1.9. The Group’s net profit doubled from RUR 216 mln in 2010 to RUR