Key Investment Highlights

Key Investment Highlights

  • 100% state-owned, quasi-sovereign bank
  • Second largest branch network with 66 branches and more than 1,200 additional offices
  • Broad customer base comprising 6.1 million clients
  • Ranked No. 330 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 October 2018.
  • In October 2018, the Bank issued on the domestic market RUB 13,000 million bonds maturing in October 2022 with semi-annual payments at 9% p.a.
  • In October 2018, the Bank repurchased RUB - denominated bonds issued on the domestic market in the amount of RUB 4,136 billion at the put option date.
  • In March 2018, the Bank fully placed a RUB 25 billion BO-05P series exchange-traded bond in the domestic capital market. The issue maturity is 4 years. The first coupon rate was set at 7.4% p.a.
  • In February 2018, the Group repaid at the maturity date Eurobonds (loan participation notes) (placed at par) denominated in Russian Roubles in the amount of RR 8 500 million, issued in February 2013.
  • RUB 20 bln capital injection in December 2017.
  • In December 2017, the Bank placed a RUB 5 billion BO-04P exchange-traded bond in the domestic capital market. The issue maturity is 1,100 days, without put options. The final coupon was set at 8.10% p.a.
  • RUB 25 bln capital injection in October 2017.
  • In June 2017, the Bank repaid at the maturity date subordinated loan in the amount of USD 200 million issued in June 2007.
  • 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.

Ratios


31 December 2016 31 December 2017 31 December 2018
CET1 Ratio (N1.1)   9.6%   10.5%   9.5%
Tier1 Ratio (N1.2)   10.2%   11.0%   10.7%
Capital Adequacy Ratio (N1.0)   16.3%   15.5%   15.2%

* Calculated based on Basel III requirements

Audited IFRS Financial Statements as of December 31, 2016, December 31, 2017 and December 31, 2018

 

Key Financial Highlights

USD million  FY 2016  FY 2017 FY 2018
Summary of consolidated profit or loss statement 
Net interest income  931.7  1,098.5  970
Net fee and commission income  238.1  350.5  310
Profit/(Loss) before tax  (956.1)  (254.1)  108
Profit/(Loss) for the year (971.5) (338.2)  22
Summary of consolidated statement of financial position 
Cash and cash equivalents  5,375.0  10,181.2  5,622.3
Mandatory cash balances with the Central Bank of the Russian Federation  185.7 331.8 297.3
Securities  4,436.1  5,877.4  8,516.9
Due from other banks  914.8  450.3  557.3
Loans and advances to customers  26,673.6  30,655.4  28,181.2
Premises and equipment  266.9  650 722.4
Other assets  2,745.5  2,010.4  938.5
Total assets  40,597.7 50,156.4  44,836.0
Due to other banks  1,295.7  915.9  2,469.1
Customer accounts  26,011.3  38,256.4  34,850.0
Promissory notes issued  226.9  641.4  609.5
Other borrowed funds  7,515.8  4,245.8  2,052.8
Derivative financial instruments  17.апр 58.4  132.6
Other liabilities  292.3  415.9  418.0
Subordinated debts  2,524.4  2,316.7  2,120.0
Total liabilities  37,883.7  46,850.6  42,652.0
Total equity  2,713.9  3,305.8  2,184.0
Total liabilities and equity  40,597.7 50,156.4  44,836.0

Audited IFRS Financial Statements as of December 31, 2016, December 31, 2017 and December 31, 2018

Bank of Russia RUB/USD exchange rates: 31 December 2016 – 60.66, 31 December 2017 – 57,60, 31 December 2018 - 69,47