Key Investment Highlights

Key Investment Highlights

  • 100% state-owned, quasi-sovereign bank
  • Second largest branch network with 72 branches and more than 1,200 additional offices
  • Broad customer base comprising 6.1 million clients
  • Ranked No. 342 in the Top 1000 banks globally by The Banker
  • Strong government support in capitalization and supervision
  • Diversified loan portfolio, reduced concentration risk
  • Main agent of the Government of the Russian Federation for the development of agribusiness lending
  • Extensive knowledge of agribusiness and related subsectors
  • Strong and experienced management team

Recent Events and Developments

  • RUB 5 bln capital injection in March 2017.
  • In July 2016, the Bank completed a RUB 10 billion T1 capital increase by placing local perpetual bonds compliant with the criteria for inclusion in Tier 1 capital.
  • In July 2016, the Bank early repaid subordinated debt (placed at par) denominated in US Dollar in the amount of USD 800 million issued in June 2011.
  • RUB 8 billion capital increase in April 2016.
  • RUB 68.8 bln T1 capital increase by means of federal loan bonds (OFZ) through the Deposit Insurance Agency (DIA) in November 2015.
  • In October 2015, RusAg placed RUB 10 billion Series BO-09 exchange traded bonds in the domestic capital market with the first coupon set at 11.70% p.a. Maturity of the bonds is 10 years with a put option in 2 years.
  • In July 2015, RusAg placed RUB 10 billion Series 24, 25 and 26 subordinated bonds in the domestic market with the first coupon set at 13.1% p.a. Maturity of the bonds is 10 years (3,640 days).
  • RUB 10 billion capital increase in June 2015.
  • In February 2015, RusAg placed Series BO-17 local bonds with the nominal value of RUB 5 billion. The first coupon rate is set at 15.25% per annum. The issue maturity is 10 years.
  • In February 2015, RusAg placed Series BO-08 local bonds with the nominal value of RUB 10 billion. The first coupon rate is set at 15% per annum. The issue maturity is 10 years.
  • In June 2014, RusAg placed a RUB 5 billion and RUB 10 billion local bonds with the coupon set at 9.55% p.a. Maturity of the issues is 3 years, with a put option in 1 year
  • In February 2014, the Bank issued a USD 500 million tap to its Eurobond due 2018, the total amount placed equals USD 1.3 billion.

Ratios

FY 2014

FY 2015

FY 2016

Tier 1 capital ratio*

9.9%

7.7%

6.5%

Total capital ratio*

13.0%

11.7%

10.0%

* Calculated based on Basel II requirements

Source: Audited IFRS Financial Statements as of December 31, 2014 and December 31, 2015 and December 31, 2016

Key Financial Highlights

USD million

FY 2014

FY 2015

FY 2016

Summary of consolidated income statement

Net interest income

1,066.0

328.3

931.7

Net fee and commission income

156.8

166.4

238.1

Profit/(Loss) before tax

(893.4)

(1,367.4)

(956.1)

Profit/(Loss) for the year

(851.9)

(1,292.8)

(971.5)

Summary of consolidated balance sheet

Cash and cash equivalents

1,866.5

2,308.3

5,375.0

Mandatory cash balances with the Central Bank of the Russian Federation

166.6

106.2

185.7

Securities

2,729.7

3,406.5

4,436.1

Due from other banks

605.0

838.3

914.8

Loans and advances to customers

25,177.1

22,304.8

26,673.6

Premises and equipment

432.2

324.1

266.9

Other assets

3,075.9

2,934.1

2,745.5

Total assets

34,052.9 

32,222.4

40,597.7

Due to other banks

5,079.6

1,334.4

1,295.7

Customer accounts

13,537.1

16,325.6

26,011.3

Promissory notes issued

332.0

200.8

226.9

Other borrowed funds

9,857.2

8,367.2

7,515.8

Derivative financial instruments

21.5

2.8

17.4

Other liabilities

208.5

216.3

292.3

Subordinated debts

1,497.7

3,088.6

2,524.4

Total liabilities

30,533.6

29,535.8

37,883.7

Total equity

3,519.4

2,686.6

2,713.9

Total liabilities and equity

34,052.9

32,222.4

40,597.7

Source: Audited IFRS Financial Statements as of December 31, 2014 and December 31, 2015 and December 31, 2016

Bank of Russia RUB/USD exchange rates: 31 December 2014 - 56.26, 31 December 2015 – 72.88, 31 December 2016 – 60.66