Презентация powerpoint - vtb
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1Results 1Q’21 | 30 April 2021 1
145.6
38.6
9.8
194.0
-22.6
-64.9
-21.4
39.3%
51.1%
39.4%
48.9%
33.5%
NET OPERATING
INCOME
NET INTEREST
INCOME
NET FEE &
COMISSION
INCOME
OTHER INCOME
PROVISION CHARGE
STAFF COSTS &
ADMINISTRATIVE
EXPENSES
TAX
NET PROFIT
85.1
▲1%
▲22%
▼ 12%
1Q’21
▲▼ - YoY
RUB BN
▲ 19%
▲19%
▼ 50%
▲114%
3.6%
3.9% 3.8% 3.8% 3.7%
NIM
NCM
CoR
1.5% 1.9%2.3%
1.8%
0.7%
YoY
1
P&L: 1Q 2021 KEY PERFORMANCE HIGHLIGHTS
1Q’20 2Q’ 20 3Q’ 20 4Q’20 1Q’21
1Q’20 2Q’ 20 3Q’ 20 4Q’20 1Q’21
▲10bp
YoY
FEES RECEIVED FOR INSURANCE
PRODUCTS DISTRIBUTION AND
OTHER AGENCY SERVICES
▲69%
▼80bp
▼580bp
▲1.8х
SENSITIVITY TO PARELLEL
SHIFT OF INTEREST RATES’
CURVE 100 BP UP
(RUB CASH FLOWS)
WIM NET FEES
-12.0 -11.7
31 Dec 20 31 Mar 21
COSTS ON DIGITAL
TRANSFORMATION▲12%
- 8.2 - 9.2
1Q”20 1Q”21
9.4 8.7 12.2 13.4 15.92.4 3.0 3.35.5 4.332.4 28.4 35.1 40.9 38.6
2Results 1Q’21 | 30 April 2021 2
АSSETS SUPPLEMENTARY TO BANKING BUSINESS
LONG-TERM
INVESTMENTSDIGITAL ASSETS
Corporate-Investment
Business
4% of segment assets
Retail
Business
1% of segment assets
Medium and Small
Business
0% of segment assets
Corporate
Centre
1% of segment assets
Other Business
72% of segment assets
CREDIT WORKOUT ASSETS
ASSETSAS OF 31 MAR 21
337.3 36.4 1.2 0.5 234.2
4.4 -0.2 - - 0.2FINANCIAL
RESULT1Q’21
▲12%
▼2%
▼3%
TOTAL DIGITAL ASSETS
TOTAL АSSETS SUPPLEMENTARY TO BANKING BUSINESS 609.63% OF THE GROUP’S ASSETS
38.1
▲5%
▲▼ - YTD
RUB BN
3Results 1Q’21 | 30 April 2021 3
6.8% 6.9%
21.8 19.9
50.4
2.5
72.2
22.4
98 9816 16
898 907
31 Dec 20 31 Mar 21
26.0 28.2
51.637.5
9.6
17.126.6
19.3
20.8
12.2
43.154.8
70.9
58.3
21.8
PROVISION CHARGE FOR LOAN IMPAIRMENT
ASSET QUALITY ANALYSIS▲▼ - YoY
RUB BN
1.5%1.9%
2.3%1.8%
0.7%
1Q’20 2Q’20 3Q’20 4Q’20 1Q’21
COST OF RISK
IND
LE
TOTAL 2.0%
3.0%
2.1%
2.2%
1.3%
1.3% 1.4%
2.4%
1.6%
0.4%
1Q’20 2Q’20 3Q’20 4Q’20 1Q’21
▼49%
31 Dec 20 31 Mar 21
IND
LE
TOTALIND
LE
2020 1Q’21
5.1% 5.2%
5.9% 5.6%
5.7% 5.5%
549 508
197 209
745 717
NPL (90+)
NPL RATIO
IND
LE
▲7%
▼7%
▼4%
COVERAGE
RATIO
PROVISIONS
PROVISIONS /
LOAN PORTFOLIO
WRITE-OFFs
▲1%
120.6% 126.4%
IND
LE
PROVISION FOR RISK RELATED TO
CERTAIN GROUPS OF BORROWERS
SUBJECT TO INDUSTRY AND OTHER
PORTFOLIO SPECIFIC RISKS
MACRO ADJUSTMENT
4Results 1Q’21 | 30 April 2021 4
820 868
12.0% 11.8% 11.9% 11.8% 12.1%
Allocation Currency Current coupon Coupon type Volume
2019 RUB 8.40% Fixed5 bn accounted in
Т2 in 2020
2020
RUB 7.6% Fixed75.3 bn accounted
in Т2 in 2020
4.7 bn accounted
In T2 in 2021RUBBank of Russia +
2.2%Floating
2021
USD 5,00% Fixed
57.4 bn accounted
in
T1 in 2021
USD SOFR + 4.5% Floating
EUR 3.75% Fixed
EUREURIBOR 6M +
4.15%Floating
REGULATORY CAPITAL
TOTAL CAR
TIER 1
CET1
11.5%
MIN. THRESHOLD
9.5%
8.0%
Based on Russian regulatory requirements with Total CAR represented by
N20.0, common capital – N20.2, core equity– N20.1.
SUBORDINATED DEBTCAPITAL ADEQUACY
10.2% 10.2% 10.4% 9.9% 10.2%
9.3% 9.3% 9.5% 8.9% 8.9%
ISSUED IN 1Q’21
86.7 62.1
INCLUDED IN CAPITAL IN 1Q’21
▲6%
TANGIBLE EQUITY
+39bp
+25bp
Included in T1 capital
from 2021 subordinated
bonds issue
Included in T2 capital from
RUB bonds 2020 issue
RUB BN
RUB BN
Excluding preference shares, goodwill and other intangible assets,
non-controlling interest and perpetual loan participation notes.
▲ 30bp
INCLUDINGSubordinated debt
issued in 2021
SMA introduction for
operational risk
01 Apr 20 01 Jul 20 01 Oct 20 01 Jan 21 01 Apr 21
31 Dec 20 31 Mar 21
57.4
4.7
5Results 1Q’21 | 30 April 2021 5
2021 GUIDANCE
LOANS TO LEGAL ENTITIES
NET PROFIT
BANKING SECTOR
OF RUSSIA
≈ 40%
RUB 250 – 270 bn
≈ 3.5%
˂ 1%
≈ 5%
≈ 10%
GROWTH IN-LINE WITH INDUSTRY
GROWTH ABOVE INDUSTRYw/o securitisation
NET FEE AND COMMISSION INCOME > 10% YoY
COSTS > CPI и ˂ 10%
MANAGEMENT RECOMMENDATIONS FOR AMOUNT
AND DISTRIBUTION OF DIVIDENDS
50% OF IFRS NET PROFIT
EQUALISATION OF DIVIDEND YIELD
for all three classes of shares
PREVIOUS GUIDANCE AS OF 25 FEB 21 GUIDANCE AS OF 30 APR 21
LOANS TO INDIVIDUALS
≈ 5-7%
≈ 12-14%
BANKING SECTOR
OF RUSSIA
DIVIDENDS ON ORDINARY SHARES ARE PAID ON
THE BASIS OF 50% PAYOUT FROM IFRS NET
PROFIT AND EQUALISATION OF DIVIDEND YIELDS
CONFIRMED
CONFIRMED
CONFIRMED
CONFIRMED
CONFIRMED
CONFIRMED
CONFIRMED
CONFIRMED
6Результаты 1кв’21 | 30 апреля 2021
FINANCIAL APPENDIX
7Results 1Q’21 | 30 April 2021 7
263.6 263.2 259.9 269.1 261.7
3.6%
3.9%3.8% 3.8% 3.7%
143.9 130.9 124.4 124.9 116.1
INTEREST INCOME AND EXPENSE
NET INTEREST INCOME
INTEREST INCOME
INTEREST EXPENSE
YIELD ON TOTAL INTEREST EARNING
ASSETS
NET INTEREST MARGIN
COST OF TOTAL INTEREST
BEARING LIABILITIES
▲ 22%
▼1%
1,055.8
6.7%
▼19%
3.0%
7.9%
4.3%
▼ 5%
2020
524.1▼21%
2020
7
1Q’20 1Q’21
1Q’20 1Q’21119.7 132.3 135.5 144.2 145.6
531.7▲21%
2020
1Q’21/ 1Q’20
1Q’21/ 1Q’20
1Q’21/ 1Q’20
1Q’20 2Q’20 3Q’20 4Q’20 1Q’21
1Q’20 2Q’20 3Q’20 4Q’20 1Q’211Q’20 2Q’20 3Q’20 4Q’20 1Q’21
▲▼ - YoY
RUB BN
8Results 1Q’21 | 30 April 2021 8
0.8%0.7%
0.8%0.9% 0.9%
FEES AND COMMISSIONS
NET FEE AND COMMISSION
INCOME
FEE AND COMMISSION INCOME
FEE AND COMMISSION EXPENSE
FEES RECEIVED FOR
INSURANCE PRODUCTS
DISTRIBUTION AND OTHER
AGENCY SERVICES
COMMISSION ON SETTLEMENT
TRANSACTIONS, TRADE FINANCE
AND CASH TRANSACTIONS
OTHER
COMMISSION ON GUARANTEES
AND OTHER CREDIT RELATED
COMMITMENTS
COMMISSION ON SECURITIES AND
ON CAPITAL MARKETS
TRANSACTIONS
SETTLEMENT TRANSACTIONS,
TRADE FINANCE AND CASH
TRANSACTIONS
OTHER
OPERATIONS WITH SECURITIES
AND ON CAPITAL MARKETS
NET COMMISSION MARGIN
▲19%
▲18%
▲16%
196.1 ▲11%2020
59.3 ▲9%2020
1Q’21/ 1Q’20
1Q’21/ 1Q’20
COMMISSION FOR CLIENT
OPERATIONS WITH FOREIGN
CURRENCY AND PRECIOUS
METALS
22.0 20.2 25.3 28.0 23.9
2.9 2.8 3.4 4.1 3.26.8 5.1 4.47.6
6.83.12.3
2.43.0
2.89.8
8.812.5
13.816.31.8
1.6
2.1
2.31.9
46.440.8
50.158.8 54.9
32.4 28.435.1
40.9 38.6
1Q’20 2Q’20 3Q’20 4Q’20 1Q’21
136.8 ▲13%2020
1Q’21/ 1Q’20
12.6 11.4 13.7 15.9 14.40.6 0.5 0.7 1.1 0.90.8 0.5 0.6 0.9 1.0
14.0 12.4 15.0 17.9 16.3
1Q’20 2Q’20 3Q’20 4Q’20 1Q’21
1Q’20 2Q’20 3Q’20 4Q’20 1Q’21
▲▼ - YoY
RUB BN
9Results 1Q’21 | 30 April 2021 9
59.4 59.3 59.6 60.1 60.7
22.5 22.1 21.6 20.2 17.9
81.9 81.4 81.2 80.2 78.6
40.9 40.4 40.0 43.8 42.7
23.2 24.6 23.0
34.0 22.2
64.1 65.0 63.077.8
64.9
1.6% 1.6% 1.5% 1.7% 1.4%
39.3%51.1%
39.4%48.9%
33.5%
SUBSIDIARIES
STAFF COSTS AND ADMINISTRATIVE EXPENSES
THSD EMPLOYEES
VTB BANK
ADMINISTRATIVE
EXPENSES
STAFF COSTS
(INCLUDING PENSIONS)
AVERAGE NUMBER OF EMPLOYEES
▲1%
1Q’21/ 1Q’20
▼4%
269.9 ▲6%2020
81.2 FLAT2020
INCL.
TRANSFORMATION
COST IN 1Q’21
9.2
CIR
COST /
AVERAGE ASSETS
1Q’20 2Q’20 3Q’20 4Q’20 1Q’21
1Q’20 2Q’20 3Q’20 4Q’20 1Q’21
▲▼ - YoY
RUB BN
10Results 1Q’21 | 30 April 2021 10
1,593 1,696
1,798 2,087
3,391 3,782
Current
Term
Current
4,723 4,849
2,372(33%)
3,120(39%)
2,968 2,787
2,768(48%)
2,935(51%)
5,736 5,722
7,0957,969
1,592 1,569
1,568 1,646
2,007 2,064
3,857 4,027
9,305 9,119
31 Dec 20 31 Mar 21
Term
BUSINESS GROWTH DYNAMICS
LOANS CUSTOMER DEPOSITS
IND
LE
IND
LE
Mortgage
Consumer
loans
Medium
and Small
Business
▲4%Flat
▼6%
▲6%▲3%
▲5%
▲▼ - YoY
RUB BN
▼2%
▲12%
▲32%
▲3%
▼1%
ASSETS UNDER MANAGEMENT
▲12%
▲16%
▲6%
IND
LE
▲10%
▼4%
▲2%Current
Term
Medium and Small Business
31 Dec 20 31 Mar 21
1,002 960
730 803
1,732 1,763
31 Dec 20 31 Mar 21
11Results 1Q’21 | 30 April 2021 11
31%
12%
10%
8%
6%
4%
5%
4%
3%
4%
3%
2%
8%
29%
12%
11%
8%
7%
4%
5%
4%
4%
3%
3%
2%
8%
71% 69% 65% 60% 56%
29% 31% 35% 40% 44%
RUB 77%
RUB 78%
FX 23%
FX 22%
79.5%81.0%
78.8% 78.1%
81.9%
54% 56% 55% 55% 58%
46% 44% 45% 45% 42%
11,820 11,852 12,369 12,831 13,691
NET LOANS AND ADVANCES
TO CUSTOMERS
CUSTOMER DEPOSITS
31 Dec 20
LOAN PORTFOLIO
LOANS BY INDUSTRY
CUSTOMER DEPOSITS
31 Mar 21
LOAN PORTFOLIO AND CUSTOMER DEPOSITS
▲7%▲4% ▲4%▲0.3%
LOANS AND DEPOSITS BY CURRENCY
11
95.5% 94.1%97.5% 95.6%
89.4%
71% 70% 71% 71% 69%
29% 30% 29% 29% 31%
12,059 11,947 12,937 13,163 13,146
▲8% ▲2% 0%▼1%
RUB 65%
RUB 62%
FX 35%
FX 38%
Individuals
Building construction
Oil and Gas
Metals
Transport
Manufacturing
Trade and commerce
Telecommunications and media
Government bodies
Finance
Energy
Chemical
Other
31 Dec 20
31 Mar 21
31 Dec 20
31 Mar 21
31 Mar 20 30 Jun 20 30 Sep 20 31 Dec 20 31 Mar 21
31 Mar 20 30 Jun 20 30 Sep 20 31 Dec 20 31 Mar 21
31 Mar 20 30 Jun 20 30 Sep 20 31 Dec 20 31 Mar 21
CURRENT
TERM
CUSTOMER
DEPOSITS / TOTAL
LIABILITIES
LOANS /
DEPOSITS
(LDR)
IND
LE
RUB BN
12Results 1Q’21 | 30 April 2021 12
72% 73% 70% 67% 61%
28% 27% 30% 33% 39%
6,408 6,584 6,824 7,095 7,969
BUSINESS WITH LEGAL ENTITIES
LOAN PORTFOLIO CUSTOMER DEPOSITS
3.4%
6.7%
2020
▼2%▲10% ▲1% ▲12%▲4% ▲4%▼3% ▲3%
12
▲32%
▲3%
Change for
2021
7.1% 7.0% 6.5% 6.2% 6.0%
4.0% 3.5% 3.1% 3.1% 2.7%
YIELD ON LOANS AND COST OF DEPOSITS
COST OF DEPOSITSYIELD ON LOANS
1Q’20 2Q’20 3Q’20 4Q’20 1Q’21
31 Mar 20 30 Jun 20 30 Sep 20 31 Dec 20 31 Mar 21
8,565 8,347 9,189 9,305 9,119
31 Mar 20 30 Jun 20 30 Sep 20 31 Dec 20 31 Mar 21
CURRENT ACCOUNTS
TERM DEPOSITS
RUB BN
13Results 1Q’21 | 30 April 2021 13
69% 64% 59% 52% 49%
31%36% 41% 48% 51%
5,412 5,269 5,545 5,736 5,722
LOAN PORTFOLIO
YIELD ON LOANS AND COST OF DEPOSITS
CUSTOMER DEPOSITS
BUSINESS WITH INDIVIDUALS
3.5%
10.9%
▲4%▲3% ▲4% ▲3%
▼3% ▲5% ▲3% 0%
2020
▲6%
▼6%
Change for
2021
11.4% 11.1% 10.7% 10.5% 10.1%
4.4% 3.4% 3.3% 2.9% 2.8%
49% 50% 50% 52% 51%4% 3% 3%
3% 3%4% 4% 4% 3% 3%43% 43% 43% 42% 43%
3,493 3,600 3,748 3,857 4,027CONSUMER LOANS
AND OTHER
MORTGAGE LOANS
CAR LOANS
CREDIT CARDS
31 Mar 20 30 Jun 20 30 Sep 20 31 Dec 20 31 Mar 21 31 Mar 20 30 Jun 20 30 Sep 20 31 Dec 20 31 Mar 21
COST OF DEPOSITSYIELD ON LOANS
CURRENT ACCOUNTS
TERM DEPOSITS
1Q’20 2Q’20 3Q’20 4Q’20 1Q’21
RUB BN
14Results 1Q’21 | 30 April 2021 14
5.7
10.8
5.3
ASSET QUALITY UNDER IFRS 9
14
6.3%6.3%
3.3%5.4%
90.4%88.3%
3,7993,626
9.0%9.1%
21.4%21.7%
69.6%69.2%
8,9199,091
11.6
18.0
13.4
STAGE 3
+ POCI1
8.2%8.3%
16.0%17.0%
75.8%74.7%
12,71812,718
LOANS AT AMORTISED COST BY ECL STAGES
ALLOWANCE
RATIO
12.1%
1.0%
52.8%
TOTAL LOANS LEGAL ENTITIES INDIVIDUALS
53.8%
(1) POCI - purchased or originated credit-impaired.
11.2%
1.1%
11.8%
▲ 110bp
▼ 10bp
42,6%
12.5%
1.4%
0bp
▼210bp
ALLOWANCE
RATIO
ALLOWANCE
RATIO
ALLOWANCE
RATIO
ALLOWANCE
RATIO
ALLOWANCE
RATIO
▼ 2%
▼ 100bp
Flat
▲40bp
▼30bp
45,2%
0.9% 0.9%
11.1% 11.7%
45.2% 45.3%▼10bp
PROVISION CHARGE
21.8
STAGE
2
STAGE
1
43.0
▼ 49%
1Q’211Q’20
▲ 5%
82.3%
1.3%
80.0%
ALLOWANCE
RATIO
ALLOWANCE
RATIO
ALLOWANCE
RATIO
▲210bp
31 Mar 2131 Dec 20 31 Mar 2131 Dec 20 31 Mar 2131 Dec 20
RUB BN
15Results 1Q’21 | 30 April 2021 15
14,860 14,63815,702
16,420 16,71916,589 16,34717,426
18,142 18,588▲4%
BALANCE SHEET STRUCTURE
▲2%▼1% ▲7%▲2%▼1% ▲7% ▲5%
7%
6%
5%
69%
13%
10%
5%
4%
68%
13%
8%
5%
5%
68%
14%
8%
10%
4%
66%
12%
2%
2%
5%
12%
79%
2%
2%
5%
10%
81%
2%
2%
6%
10%
80%
1%
2%
5%
10%
82%
1%
2%
6%
13%
78%
ASSETS LIABILITIES
15
8%
9%
5%
68%
10%
RUB BN
31 Mar 20 30 Jun 20 30 Sep 20 31 Dec 20 31 Mar 21 31 Mar 20 30 Jun 20 30 Sep 20 31 Dec 20 31 Mar 21
SECURITIES PORTFOLIO LOANS AND ADVANCES TO CUSTOMERS
DUE FROM OTHER
BANKS
CASH, SHORT-TERM FUNDS
AND MANDATORY RESERVES OTHER ASSETS OTHER LIABIILITIES
SUBORDINATED DEBT
DEBT SECURITIES ISSUED
CUSTOMER DEPOSITS
DUE TO BANKS AND
OTHER BORROWED
FUNDS
16Results 1Q’21 | 30 April 2021 16
1Q'21 1Q'20 Change 2020
NIM 3.7% 3.6% 10 bp 3.8%
CoR 0.7% 1.5% -80 bp 1.9%
Cost / Assets 1.4% 1.6% -20 bp 1.6%
CIR 33.5% 39.3% -580 bp 44.3%
ROE 19.2% 9.5% 970 bp 4.4%
INCOME STATEMENT KEY INDICATORS
KEY FINANCIAL RATIOS
1Q'21 1Q'20 Change 2020
Net interest income 145.6 119.7 21.6% 531.7
Net fee and commission income 38.6 32.4 19.1% 136.8
Net other income 9.8 11.1 -11.7% -59.1
Operating income before provisions 194.0 163.2 18.9% 609.4
Provision charge for credit losses and other provisions -22.6 -45.1 -49.9% -249.8
Staff costs and administrative expenses -64.9 -64.1 1.2% -269.9
Profit before tax 106.5 54.0 97.2% 89.7
Income tax expense -21.4 -14.2 50.7% -14.4
Net profit 85.1 39.8 113.8% 75.3
RUB BN
16
VTB GROUP FINANCIAL HIGHLIGHTS: P&L AND KEY RATIOS
17Results 1Q’21 | 30 April 2021 17
31 Mar 21 31 Dec 20 YTD 31 Dec 19
NPL ratio (1) 5.5% 5.7% -20 bp 4.7%
LLR ratio 6.9% 6.8% 10 bp 6.0%
Coverage ratio 126.4% 120.6% 580 bp 128.7%
(1) The Group defines non-performing loans (NPL) as lifetime expected credit losses (ECL) credit-impaired loans with contractual principal and or interest payments overdue more than 90 days and
purchased or originated credit impaired (POCI) loans with principal and or interest payments becoming overdue more than 90 days after the date of initial recognition.
BALANCE SHEET KEY INDICATORS
KEY ASSET QUALITY RATIOS
31 Mar 21 31 Dec 20 YTD 31 Dec 19
Gross loan portfolio 13,145.6 13,162.6 -0.1% 11,461.5
Loans to legal entities 9,118.8 9,305.4 -2.0% 8,096.2
Loans to individuals 4,026.8 3,857.2 4.4% 3,365.3
Total assets 18,588.4 18,142.2 2.5% 15,516.1
Customer deposits 13,690.8 12,831.0 6.7% 10,974.2
Deposits of legal entities 7,969.0 7,095.1 12.3% 5,932.6
Deposits of individuals 5,721.8 5,735.9 -0.2% 5,041.6
Total liabilities 16,719.1 16,419.6 1.8% 13,862.8
Total shareholders' equity 1,869.3 1,722.6 8.5% 1,653.3
RUB BN
17
VTB GROUP FINANCIAL HIGHLIGHTS: BALANCE SHEET
18Results 1Q’21 | 30 April 2021 18
This presentation has been prepared by VTB Bank (PJSC) (“VTB”) and has not been independently verified. This presentation does not constitute or form part or all of, and should not be
construed as, any offer of, or any invitation to sell or issue, or any solicitation of any offer to purchase, subscribe for, underwrite or otherwise acquire, or a recommendation regarding, any
shares or other securities representing shares in, or any other securities of VTB, or any of its subsidiaries, nor shall it or any part of it nor the fact of its presentation or distribution form the
basis of, or be relied on in connection with, any contract or any commitment whatsoever or any investment decision. Some of the information in this presentation may contain projections or
other forward-looking statements regarding future events or the future financial performance of VTB and its subsidiaries (together with VTB, the "Group"). Forward-looking statements are
statements that are not historical facts. They include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates
and projections as they are currently available to the management of VTB. Such forward-looking statements are based on numerous assumptions, beliefs and expectations regarding the
Group's present and future business strategies, financial conditions, targets and the operating environment. We caution 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 materially differ 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
assume no obligation to update or revise these statements whether as a result of new information or for any other reason or to make them conform to actual results. Certain numbers and
ratios contained herein, related to past dates and periods, might have been restated in accordance with the latest financial statements issued, and hence differ from the ones presented in
the previous communications. Figures shown in this presentation are based on figures disclosed in the annual and interim financial statements of the Group. However, figures used in this
presentation might have been rounded, which could result in slight differences in percentage changes compared to those provided in such financial statements.
DISCLAIMER