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- 1. Bank Vozrozhdenie Steady growth despite economy deceleration Investor presentation May 2013
- 2. 2 This page is intentionally left blank
- 3. 3 Agenda Business model Business overview Recent IFRS results Investment summary
- 4. 4 Over 20 years of successful development 1991-1992 1993-1995 Establishment and banking license 34 branches in the Moscow Oblast 1996-1998 2003-20041999-2002 2005-2006 2007-2008 2009-2010 2011-2012 9 new regional branches opened Cash collection and delivery services established Corr. accounts with western banks License for foreign exchange Associate member of VISA International Authorized Bank of the Russian Government Joined S.W.I.F.T. Joined the World Bank development program Cooperation with CIBC S&P rating Rated by the Central Bank as a stable bank after the financial Crisis CIBC becomes a shareholder The 3rd largest branch network Top 10 by deposits from individuals Top 3 in the State Mortgage Program Top 7 mortgage provider Best mid- cap Russian bank (Big Money) $ 177 mln raised by 20th issue 3rd by lending to SME $81 mln EBRD financing Top 10 by bank cards issued Best SME bank in Moscow Oblast Top 10 retail banks in Russia First MBS deal on Rub 4,1 bln Bank’s ADRs traded on the Frankfurt Stock Exchange Established ATM network and a processing center Top 20 by corporate loan portfolio Widest ATM network in the Moscow Oblast Over 100,000 VISA cards issued 17th equity issue raises $33 million Joined Deposit Insurance Program Overall rebranding CRM system development The most transparent bank in Russia (S&P) Top 500 world’s banking brands Best bank IR and best IR professional (Thomson Reuters ) Bank of the Year in Russia in 2010 (The Banker) Over 1,550,000 clients Best public company (Secret Firmy Magazine) Alexander Dolgopolov appointed as the Chairman of the Management Board V.Bank launched project on cost efficiency 2013 Best Corporate Governance, Russia (World Finance) Best IR Management in Russia (Global Banking & Finance review)
- 5. 5 Prudent risk-management policy Balanced Lending and Funding policy Servicing retail customers throughout their whole life-cycle Servicing Corporate and SME Customers In Each Stage Of Business Development Vozrozhdenie Bank strategy… … 1 522 000 Retail Clients… … 61 400 Corporate and SME Clients… … 21 Region … 148 Offices … 840 ATMs … 6 173 employees Focus On Core Banking Products …service… …via… Increasing efficiency in service delivery Vozrozhdenie Bank - a Community Bank built on strong relationships with SMEs and individual customers
- 6. 6 Moscow Oblast is a home territory with historically strong market position 21 region of presence. Focus on the most attractive South and North-West Branches Sub branches Retail offices 34 42 13 89 Total As of 01.05.2013 524 ATMs – every town is under coverage 19 37 2 58 Total 316 ATMs Retail officesBranches Sub branches Distribution network
- 7. 7 * RBC most recent rankings Key Figures, RUB Assets Loans Customer Funds Net Income Shareholders equity Retail Clients Corporate Clients Personnel Offices ATMs 209,062 mln 141,662 mln 163,876 mln 2,331 mln 20,807 mln 1,522,000 61,400 6,173 148 840 Loans to SMEs 6 17 38/19 29 13 Volume of retail deposits Branches/ATMs Net Assets Bank cards issued Rankings* Corporate loans 21 Mortgages 8 Basic information & position in Russian banking system
- 8. 8 TNS loyalty survey Loyalty index equals top 10% of major international banks 94% of our clients are ready to recommend us Ba3/D-/NP, stable BB-/ruAA-, stable MICEX Financial Index A2 MICEX Moody’s Standard&Poor’s Included in indices Listing IPSOS survey 85% of respondents in our regions know us BrandFinance Banking 500 survey V.bank ranks among top-10 Russian most valuable banking brands with brand value of $190 million The Banker V.Bank – “The Bank of the year 2010 in Russia” as per the survey of The Banker magazine 7 10 13 16 19 22 25 01.01.06 01.12.06 01.11.07 01.10.08 01.09.09 01.08.10 01.07.11 01.06.12 S&P international BB- Ba3Moody's Moody's Interfax Moody's Aaa Aa A Baa Ba B Caa S&P national scale S&P ruAA- AAA AA A BBB BB B CCC Aa3.ru Market recognition Credit ratings Listing High recognition of brand World Finance V.Bank was awarded for the “Best Corporate Governance, Russia”, according to World Finance survey
- 10. 10 Personal bank for corporate and retail customers Retail customers Servicing throughout their whole life-cycle Corporate clients Servicing on each stage of business development Focus on core banking products Balanced Credit and Resource policies Payrolls combine retail and corporate segments Customer acquisition Expansion of branches and ATMs network Growth of individual depositors and borrowers number Market strategy
- 11. 11 59% 63% 60% 58% 64% 41% 37% 40% 42% 36% 3 759 3 402 3 773 3 875 3 743 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Non-interest income Net interest income 113 91 98 120 124 24 26 28 31 33 137 144 152 151 156 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Retail loans Corporate loans - Customer oriented organic growth - Conservative balance sheet - Primarily deposit funded - Focused network expansion - Increasing efficiency in service delivery Note: all loans are gross loans RUB bln RUB bln 21% 79% RUB bln 35% 65% Business model Business based on relationships… … gives stable non-interest income Loan portfolio development… … funded by customer accounts 92 94 101 103 107 53 40 51 48 57 145 143 152 151 164 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Interest-bearing Deposits Interest-free Current accounts
- 12. 12 Assets and liabilities RUB bln RUB bln 10 10 10 10 10 101 106 111 107 110 23 25 27 30 329 14 12 12 8 1 0,4 0,4 0,4 640 29 34 35 43 184 183 194 195 209 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Cash and equivalents Due from banks Securities Retail loans Corporate loans Other assets Reliable assets structure… Loan book growth… …supported by customer-based funding …with retail outperforming 18 19 20 20 21 4 4 4 5 68 7 7 8 87 8 8 8 7 20 22 24 25 26 33 31 32 30 36 20 18 19 18 21 72 72 77 78 81 184 183 194 195 209 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Retail deposits Retail accounts Corp. accounts Corp. deposits Securities issued Due to other banks Other liabilities Subordinated loans Equity RUB bln 7777787470 22333 4541434140 333128 2624 Q4'12Q3'12Q2'12Q1'12Q4'11 SME Administrations Large corporates Individuals +3,2% 15,4 17,0 18,5 20,8 22,3 6,8 6,8 7,6 8,4 8,5 2,2 2,2 2,1 2,1 2,1 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Mortgages Consumer and auto loans Credit cards +13,8% +34,8% +4,7% RUB bln
- 13. 13 Geographical diversification Corporate loans Corporate deposits Retail deposits (without debit card accounts) Retail loans 15% 37% 21% 13% 14% Moscow Oblast Moscow Other regions RUB 123,515 mln South regions North-West regions 26% 34% 8% 28% 4% Moscow Oblast Moscow Other regions RUB 25,896 mln South regions North-West regions 24% 56% 10% 6% 4% Moscow Oblast Moscow Other regions RUB 81,014 mln South regions North-West regions 29% 48% 9% 3% 11% Moscow Oblast Moscow Other regions RUB 32,850 mln South regions North-West regions
- 14. 14 Segment Total credit exposure, RUB mln Large business > 750 Medium-size and small businesses 30 - 750 Micro businesses 6 - 30 Food processing – factories manufacturing different types of high-quality food and drinks. Petrol stations networks – complex service of high-quality petrol, minimarkets and café, car washes and technical services. Pharmacies networks – still healthy demand both for beauty products and medicines. Food retailers– small chains of handy stores “Close-to-House” style for daily shopping located in dormitory area with high density of population. Who are SMEs? What is our SME Definitions
- 15. 15 61,7 61,2 61,1 59,6 58,2 4,5 4,5 5,0 4,4 4,5 66,2 65,8 66,0 64,0 62,7 01.01.13 01.02.13 01.03.13 01.04.13 01.05.13 RUR FX 32% 2% 14% 15% 3 3 3 2 2 70 74 78 77 77 40 41 43 41 45 113 118 124 120 124 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 13% 73% 0,00% 10,00% 20,00% 30,00% 40,00% 50,00% 60,00% 70,00% 80,00% up to 30 mln 30-100 mln 100-750 mln more than 750 mln RUB blnLarge corporations SMEs Other * as of December 31, 2012 36% 63% 1% Share of portfolio Share of clients 43% 10% 7,2% 20 22 24 25 26 33 31 32 30 36 53 53 56 55 62 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Term Deposits Current Accounts RUB bln 58% 42% * under RAS Corporate business Corporate lending – focus remains on SMEs… …with 70% of loans less than RUB 0,75 bln issued to 98% of clients Corporate funding... …mostly nominated in RUB
- 16. 16 5,4% 15,0% 22,0% 28,9% 15,3% 13,4% up to 30 days 31-90 days 91-180 days 181 - 365 days 1 - 2 years > 2 years Corporate portfolio 2 50 27 24 19 4 99 54 48 12 Loan amount Collateral value 110,3 112,5 114,1 116,6 115,2 14,0 14,1 14,1 14,9 14,5 124,3 126,6 128,2 131,4 129,7 01.01.13 01.02.13 01.03.13 01.04.13 01.05.13 11.2% RUB blnFX loans RUB loans Real Estate Government guarantees Equipment & Vehicle Guarantees Other collateral& blank RUB bln 71% *Guarantees are not taken into account *as of December 31, 2012*as of December 31, 2012 …maintaining industry diversification…in the same currency as SMEs revenues… Conservative risk profile Credit policy sticks to reliable collateral… ….providing mostly working capital… Average LTV: 59%* 34% 1% 29% 1% 8% 8% 7% 7% 5% Construction ManufacturingAgriculture Wholesale & retail trade Administrations Other Transport Real estate RUB 123,515 mln *as of December 31, 2012
- 17. 17 6,3 6,4 7,2 8,0 8,1 0,4 0,4 0,4 0,4 0,42,2 2,2 2,1 2,1 2,1 15,4 17,0 18,5 20,8 22,3 24,4 25,9 28,3 31,4 32,8 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Retail lending – promising segment 25,2 13,4 25,6 26,3 27,4 0,4 0,4 0,7 0,4 0,425,6 25,6 26,0 26,7 27,7 01.01.13 01.02.13 01.03.13 01.04.13 01.05.13 5 10 15 20 25 01.04.10 01.10.10 01.04.11 01.10.11 01.04.12 01.10.12 01.04.13 Consumer loans, RUB Mortgages, RUB Credit cards, RUB 0,0% 1,7% 0,7% 2,0% 14,2% 81,4% up to 30 days 31-90 days 91-180 days 181 - 365 days 1 - 2 years > 2 years Retail portfolio 1.3% RUB blnConsumer loans Mortgages Credit cards Car loans RUB bln FX loans RUB loans High-margin consumer loans to customers with apparent cash- flow –management of corporate clients Primarily mortgages under state- related agency JSC “AHML” standards We plan to further expand retail portfolio, which was an important growth driver in the recent years Particular focus is on mortgages as the most perspective segment *as of December 31, 2012 Retail loans maturityRetail loan book changes (IFRS) Rates for retail loansCurrency breakdown (RAS)
- 18. 18 Card business – reliable source of non-interest income Q2 2012 Q3 2012 Q4 2012 Q1 2013 Payrolls 12,800 13,500 14,000 14,200 Debit cards 1,341,684 1,360,845 1,381,959 1,360,308 Credit cards 45,671 45,471 46,646 48,297 ATMs 811 812 819 838 Corporate clients Retail clients - Payrolls - Acquiring - Self-service transactions - Credit cards 70%18% 82% Interest Fees & commissions - Payrolls is the main tool for client base growth with strong potential – 61,400 of existing corporate clients and 17,000 installed “client-bank” systems - Offering cards only to existing corporate clients: credit cards for owners, top and mid-level managers and specialists, debit cards for personnel - Pushing cross-sales between retail and corporate 32% 22% 19% 15% 12% 1 acquiring self-service cash operations Visa and Mastercard payrolls Key points…developing key card product - payrolls …Generates strong fee incomeBusiness strategy…
- 20. 20 Risk management 11,9% 11,8% 11,6% 12,1% 12,3% 13,8% 13,4% 13,2% 14,2% 14,9% 11,9% Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 28.02.13 Tier 1 Tier 1 + Tier 2 CAR (N1) under CBR rules 11% MIN Capital position enhanced by subordination FX structure Maturity gap up to 5% of the balance Interest rate risk 12,5% Including RUB 1 bln of subord 3rd tranche 0 10 20 30 40 50 60 70 80 Demand and less than 1 month From 1 to 6 months From 6 to 12 months More than 1 year Assets Liabilities RUB bln 0 10 20 30 40 50 60 70 80 Demand and less than 1 month From 1 to 6 months From 6 to 12 months More than 1 year Interest-earning assets Interest-bearing liabilities RUB bln 82% 14 20 1 18% Assets Loans Due from banks&Securities&Cash Other assets 81% 28 4 3 19% Liabilities Deposits Due to banks&Securities Other liabilities Roubles FX Roubles FX RUB bln
- 21. 21 1 980 3 400 3 400 5 445 5 445 8,7% 8,9% 10,1% 12,2% 11,9% 4,9% 8,3% 8,0% 13,2% 12,2% Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Large corporates NPLs, RUB mln Provisions, % of total portfolio NPLs, % of total portfolio 827 827 777 965 892 4,4% 4,3% 3,6% 3,5% 3,5% 3,4% 3,2% 2,7% 3,1% 2,7% Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Retail 7 769 8 263 8 120 7 841 7 765 11,5% 11,1% 10,4% 10,5% 10,5% 10,7% 10,8% 10,0% 9,9% 9,8% Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 SMEs Credit quality management 15 * NPL includes the whole principal of loans at least one day overdue either on principal or interest as well as not overdue loans with signs of impairment 1,17% 2,86% 2,24% 1,02% 1,92% 1,83% 2,06% 1,65% 1,02% 1,77% Q4 2012Q3 2012Q2 2012Q1 2012Q4 2011 Charges to provisions to avg gross loans, QoQ Charges to provisions to avg gross loans, YtD + Rub 275 mln new NPLs - Rub 351 mln recoveries + Rub 111 mln new NPLs - Rub 184 mln recoveries 10 576 12 490 12 297 14 251 14 102 9,44% 9,25% 9,09% 9,52% 9,40% 7,70% 8,68% 8,08% 9,41% 9,02% Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 NPLs, RUB mln Provisions, % of total portfolio NPLs, % of total portfolio * No changes NPLs categorization: absolute improvement in SME and retail Annualized cost of riskNPLs dynamics
- 22. 22 Credit quality as of 31.12.2012 Large corporates SMEs Mortgages Other retail Total Gross loans, including 44 587 78 928 22 302 10 548 156 365 Current loans 87,8% 90,2% 98,3% 95,2% 91,0% Past-due but not impaired, of them - 0,2% 1,1% 0,8% 0,3% Less than 90 days - 0,2% 0,2% 0,7% 0,2% Over 90 days - - 0,9% 0,1% 0,1% Impaired, of them 12,2% 9,7% 0,6% 4,0% 8,7% Less than 90 days - 0,1% - 0,3% 0,1% Over 90 days 12,2% 9,6% 0,6% 3,6% 8,7% Total NPLs 12,2% 9,8% 1,7% 4,8% 9,0% Provisions -11,9% -10,5% -2,7% -5,2% -9,4% Net Loans 39 296 70 671 21 691 10 004 141 662 Provisions to NPLs Ratio NPL - 104% Rescheduled Loans 5.6% the whole amount of loans with principal overdue for more than 1 day as well as loans with any delay in interest payments. Provisions to 90 days+ NPLs 107% RUB mln
- 24. 24 Financial highlights FY’12 FY’11 Q4’12 Q3’12 Interest income 16 611 13 959 4 461 4 263 Interest expense (7 553) (6 503) (2 067) (2 010) Fee and commission income 5 503 5 232 1 474 1 424 Fee and commission expense (442) (410) (150) (104) Other operating income 674 611 25 302 Total operating income b.p. 14 793 12 889 3 743 3 875 Operating expenses (8 652) (8 353) (2 421) (2 051) Provisions (2 722) (2 304) (451) (1 083) Provisions on non-core assets (449) (216) (133) (2) Tax (639) (422) (194) (156) Net profit 2 331 1 594 544 583
- 25. 25 -6,5 -7,6 14,0 16,6 2011 2012 Interest Income Interest Expenses +4.6% Revenues from core business -1,6 -1,9 -2,0 -2,1 3,8 4,1 4,3 4,5 Q1 2012 Q2 2012 Q3 2012 Q4 2012 2,1 2,3 2,3 2,4 1,1 1,3 1,3 1,3 0,1 0,2 0,3 0,03 Q1 2012 Q2 2012 Q3 2012 Q4 2012 …driven mostly by interest incomeOperating income up… Net fee income breakdown Segment structure of core revenues 414 326 377 391 408 337 256 304 300 301 253 219 250 265 224 364 325 360 364 391 1 368 1 126 1 291 1 320 1 324 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Settlements Cash transactions Other Cards RUB mln +0.3% -3.2% 71% 21% 3% 5% Cards Other Corporate business Retail business Cards Other Corporate business Retail business Interest income Non-interest income 7,5 9,1 4,8 5,1 0,6 0,7 2011 2012 Other income Net fees Net interest income +14.8% 52% 16% 27% 5% RUB bln RUB bln
- 26. 26 5,7% 6,3% 7,2% 7,6% 6,7% 5,1% 5,3% 5,8% 6,1% 6,4% 0,2% 0,1% 0,1% 0,1% 0,1% Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Corporate term deposits Retail term deposits Current accounts NIM gains on repricing of loans and deposits Loan yields surged forward… …outpacing cost of deposits NIM decompositionSpread dynamics 10,3% 10,3% 10,8% 10,9% 11,3% 15,7% 14,8% 14,9% 14,9% 15,4% 3,4% 5,3% 6,1% 5,3% 6,4% Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Yields on corporate loans Yields on retail loans Yields on securities 7,1% 6,9% 6,7% 6,7% 7,1% 10,7% 10,9% 11,2% 11,4% 11,7% 3,7% 4,0% 4,4% 4,7% 4,6% Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Interest Spread Yield on earning assets (net) Cost of funds 4,3% 4,7% 2011 2012 +0,44% -0,10% -0,05% -0,18% Loans Deposits Other Base effect 4,68% 4,80% 4,64% 4,74% Q1 2012 Q2 2012 Q3 2012 Q4 2012 +46 bps
- 27. 27 1 352 1 258 1 260 1 236 1 357 193 145 191 155 209 440 300 351 335 397 420 339 336 325 458 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Other Rent & Costs related to premises and equipment Administrative expenses Personnel expenses Cost efficiency in focus RUB mln +18% +0.7% Staff expenses composition Operating efficiency dynamics CIR on way to improvement Operating expenses breakdown 48,7% 72,5% 64,8% 58,5% 50,0% 2009 2010 2011 2012 -2,4 -2,0 -2,1 -2,1 -2,4 3,8 3,4 3,8 3,9 3,7 64,0% 60,0% 56,7% 52,9% 64,7% 0,0% 10,0% 20,0% 30,0% 40,0% 50,0% 60,0% 70,0% Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 -3,0 -2,0 -1,0 0,0 1,0 2,0 3,0 4,0 5,0 6,0 7,0 Operating expenses Operating income before provisions Cost/Income Mid-term target RUB bln 37% 22% 38% 37% 40% 13% 51% 49% 54% 50% 50% 27% 14% 9% 10% Top management Top management in branches Operational management Managers Specialists and service Salary Benefits Bonuses
- 28. 28 -2,3 -2,7 4,5 6,1 Operating profit before provisions and taxes Provisions -0,4 -0,8 -1,1 -0,5 1,4 1,6 1,8 1,3 Q1'12 Q2'12 Q3'12 Q4'12 Solid earnings generation capacity 2011 2012 23,3% 7,8% 3,5% 9,1% 11,9% 2008 2009 2010 2011 2012 2,45% 0,88% 0,38% 0,91% 1,21% 2008 2009 2010 2011 2012 Net profit developmentOperating profit ROA, %ROE, % 1,6 2,3 0,5 0,7 0,6 0,5 Q1'12 Q2'12 Q3'12 Q4'12 2011 2012 +35% +46% RUB blnRUB bln
- 30. 30 32% 30% 38% SHAREHOLDER STAKE IN EQUITY Dmitry L. Orlov (Chairman of the Board of Directors) 32.03% Otar L. Margania (Member of the Board of Directors) 19.67% JPM International Consumer Holding Inc. 9.88% Total 61.58% As per MICEX data H1 2010 H2 2010 H1 2011 H2 2011 H1 2012 H2 2012 MICEX 762,594 744,081 551,544 892,502 1,966,722 535,131 RTS 220,714 186,333 65,303 82,098 50,437 30,230 German stock exchanges (ADR) 33,358 24,054 13,444 3,255 3,685 7,300 Sub-total (stock exchanges) 1,016,666 954,468 630,291 977,855 2,020,844 572,661 OTC 903,256 1,109,859 1,080,856 2,141,597 873,225 1,421,277 Total 1,919,922 2,064,327 1,711,147 3,119,452 2,894,069 1,993,938 Chairman Others Structure as of 11.05.2012 More than 8,000 individuals and 1,000 companies are among our shareholders with professional investors owning more than 38% *Volume growth associated with strategic deals Capital structure Share price on MICEXShareholding structure Volumes of trading (shares)Major shareholders 0 200 400 600 800 1 10 100 1000 10000 02.05.12 02.08.12 02.11.12 02.02.13 02.05.13 RoublesShares Volume Last price
- 31. 31 V.Bank was awarded as the Bank of the Year in Russia in 2010 Andrey Shalimov was awarded for the Best IR in 2012 CHAIRMAN OF THE MANAGEMENT BOARD Mr. Alexander Dolgopolov GENERAL MEETING OF SHAREHOLDERS BOARD OF DIRECTORS 12 members 9 are non-executive 6 independent System of control - Timely information provision to investors - Full disclosure on web-site - Quarterly IFRS financial reporting with web-cast presentations - Financial reports under IFRS audited from 1991 - Solid and professional team The most shareholder transparent bank in Russia – 2006, 2007, 2008 Dmitry Orlov is included in top10 of the best bank’s managers 2009 HR and Compensation Committee Continuing excellent reputation recognition: AUDITOR PricewaterhouseCoopers Audit commission Audit committee Internal Control and Audit Service Risk Management MANAGEMENT STRUCTURE MANAGEMENT BOARD 13 members 5 Deputy Chairmen The arrows represent the authorities to appoint or elect the relevant Bank’s bodies and the External Auditor High level of corporate governance V.Bank has the Best Corporate Governance in Russia, 2013
- 32. 32 More than 20 years in Top-30 Russian banks amid changing competition landscape Successfully passed through recent crises (1993- 94,1998, 2004, 2008) Business model generating solid fees & commissions (40% of revenue) Organic growth in core regions and client segments Focus on operating efficiency One of the most transparent FI in Russia – Best Corporate Governance by World Finance in 2013, leaders of Information Transparency to Shareholders by S&P in 2008, 2007, 2006 Management Board (13 members) with long-term banking experience, the Board of Directors headed by Chairman with 40 years in Soviet and Russian banking systems Positive track-record of communication with investors Loyal clientele due to strong relationships with the customers 60% of client base is concentrated in fast growing Moscow Oblast Corporate business focused on high-profitable SME, retail one – on mortgages Broad product line based on advanced IT-solutions S O U N D S T R A T E G Y B U S I N E S S S T R E N G T H S C U R R E N T C H AL L E N G E SH I G H S T AN D A R D S Ongoing pressure on lending rates driven by state banks Limited demand from key client sector – SME Still high potential credit risk Financial markets turbulence Threat of global economy slowdown Still high potential credit risk Investment Summary
- 33. 33 +7 495 620 90 71 investor@voz.ru http://www.vbank.ru/en/investors Follow us on Twitter: www.twitter.com/vbank_IR Investor Relations contacts Yulia Vinogradova, Advisor to the Chairman Yu.Vinogradova@voz.ru Elena Mironova, Deputy head of IR E.Mironova@voz.ru Maria Gorbunova, IR specialist M.Gorbunova@voz.ru Download presentation:Download contacts:
- 34. 34 Some of the information in this presentation may contain projections or other forward-looking statements regarding future events or the future financial performance of Bank Vozrozhdenie (the Bank). Such forward-looking statements are based on numerous assumptions regarding the Bank’s present and future business strategies and the environment in which the Bank will operate in the future. The Bank cautions you that these statements are not guarantees of future performance and involve risks, uncertainties and other important factors that we cannot predict with certainty. Accordingly, our actual outcomes and results may differ materially from what we have expressed or forecasted in the forward-looking statements. These forward-looking statements speak only as at the date of this presentation and are subject to change without notice. We do not intend to update these statements to make them conform with actual results. The Bank is not responsible for statements and forward-looking statements including the following information: - assessment of the Bank’s future operating and financial results as well as forecasts of the present value of future cash flows and related factors; - economic outlook and industry trends; - the Bank’s anticipated capital expenditures and plans relating to expansion of the Bank’s network and development of the new services; - the Bank’s expectations as to its position on the financial market and plans on development of the market segments within which the Bank operates; - the Bank’s expectations as to regulatory changes and assessment of impact of regulatory initiatives on the Bank’s activity. Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties and other factors include: - risks relating to changes in political, economic and social conditions in Russia as well as changes in global economic conditions; - risks related to Russian legislation, regulation and taxation; - risks relating to the Bank’s activity, including the achievement of the anticipated results, levels of profitability and growth, ability to create and meet demand for the Bank’s services including their promotion, and the ability of the Bank to remain competitive. Many of these factors are beyond the Bank’s ability to control and predict. Given these and other uncertainties the Bank cautions not to place undue reliance on any of the forward-looking statements contained herein or otherwise. The Bank does not undertake any obligations to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable laws. Disclaimer