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IFRS Results
2019
26-Feb-2020
DMITRY PIANOV Member of the Management Board
LEONID VAKEYEV Head of Investor Relations
1
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20
76.8
124.4 201.2
1H’19 2H’19
3Q’19 4Q’19
FY’19
51.2 73.2 ▼ 21%
▲ 54% ▲ 31%
▲ 76% ▲13%
NET PROFIT
201.2 ▲13% TARGET
200
▼30bp NIM 3.4 %
TARGET 41.6 %
▲330bp CIR ≈ 40 %
0.8 %
▼70bp CoR ≈ 1 %
3.4 %
DELIVERED ON FY’19 PERFORMANCE TARGETS
TARGET TARGET
ROE ▲90bp
12.8 %
2018 P&L results were adjusted to reflect the changes in the Group’s structure (deconsolidation
of Post bank, Multicarta and VTB Bank Ukraine, disposal of VTB Insurance Group and VTB Bank Belgrade).
▲▼ - yoy
RUB BN
2
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20
46.6%
37.8% 37.7%
1H 3Q 4Q
3.3% 3.3%
3.5%
1H 3Q 4Q
9.3 рр FEES FROM OPERATIONS WITH SECURITIES AND ON CAPITAL MARKETS
6.5 pp INPUT FROM RECENTLY CONSOLIDATED BANKS
7.8 pp INSURANCE PRODUCTS DISTRIBUTION AND OTHER AGENCY SERVICES
0.8% 1.0%
0.6%
1H 3Q 4Q
125.6 58.7 69.9
1H 3Q 4Q
1.5%Ind 0.5%LE
1.0% Ind
41.6% ▲330 bp
3.4% ▼30 bp
0.8% ▼70 bp
KEY COMPONENTS:
128.7% ▲17pp
▲▼ - yoy
RUB BN
4.7%
44.9 22.4
41.2
1H 3Q 4Q
44.3%
48.9% 37.8% 37.7%
1Q 2Q 3Q 4Q
FY’19 KEY PERFORMANCE HIGHLIGHTS
NET INTEREST
INCOME
NET FEE &
COMISSION INCOME
OTHER INCOME
NET OPERATING
INCOME
PROVISION CHARGE
STAFF &
ADMIN EXPENSES
TAX
440.6
108.5
61.3
-103.3
-51.7
254.2
610.4
-254.2
201.2
▲29.2%
▼ 33.2%
▲12.6%
▲12.9%
▼ 6.1%
▲3.6%
▲ 0.2%
NIM FY
FEES & COMMISSIONS ▲9%
▲1% ▲99%
OTHER INCOME STRUCTURED OPEN CURRENCY POSITION RUB -15.5 BN RUB 12.5 BN
FY
NET PROFIT
IN 1H NIM WAS UNDER PRESSURE DUE TO
STRICT MONETARY POLICY AND REPRICING GAP,
MARKET HEADWINDS WERE PARTLY MITIGATED BY CONTINUOUS
IMPROVEMENTS OF FUNDING STRUCTURE
IMPROVED IN 2H AMID REPRICING MOMENTUM
CREATED BY CONSEQUITIVE INTEREST RATE CUTS
AND LOAN PORTFOLIO STRUCTURE OPTIMISATION
NPL RATIO COVERAGE RATIO
▼100bp
COR
CIR
▲22% ▲14% ▼ 2% COST GROWTH YoY 12.6% INCLUDING
COSTS OF RECENTLY CONSOLIDATED BANKS 6.8 pp
FY: FY
0.8% LE
1.7% Ind
0.4% LE
0.5% LE
1.7% Ind
2018 P&L results were adjusted to reflect the changes in the Group’s structure (deconsolidation
of Post bank, Multicarta and VTB Bank Ukraine, disposal of VTB Insurance Group and VTB Bank Belgrade).
KEY DRIVERS:
3
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20
31-Dec-18 31-Dec-19
8,435 8,122 8,324 8,491 8,096
31-Dec-18 31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19
79.2%
31-Dec-18 31-Dec-19
45.9% 42.4%
78.6%
31-Dec-18 31-Dec-19
30.5% 23.6%
21.7%
31-Dec-18 31-Dec-19
14.8% 18.3% 16.0%
31-Dec-18 31-Dec-19 31-Dec-18 31-Dec-19
13.9% 31-Dec-18 31-Dec-19
2,989 3,166 3,300 3,421 3,365
31-Dec-18 31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-1931-Dec-18 31-Dec-19
SHARE ▲ IN LOANS TO LE
31-Dec-18 31-Dec-19
5,996 5,933
1,281 1,463
1,442 1,614
2,989 3,365
4,408 5,042
1,347(1) 1,481
8,435 8,096
MORTGAGE ▲12%
CONSUMER ▲14%
▲10%
1 - SME segment includingVozrozhdenie Bank as of 31-Dec-18
▲13%
▼4%
LOANS TO INDIVIDUALS
LOANS TO LE
CUSTOMER DEPOSITS
IND
CORE BUSINESS DEVELOPMENTS
LOANS TO INDIVIDUALS
MEDIUM AND SMALL BUSINESS
DEPOSITS OF INDIVIDUALS
15.1%
▲110bp
GROW ABOVE
INDUSTRY
GUIDANCE
TARGETED GROWTH ACHIEVED
ADJUSTED FOR SALE OF MORTGAGE
LOANS (SECURITISATION)
GROW IN LINE
WITH INDUSTRY
190 RUB BN
14.0%
▼4% ▲2% ▲2% ▼ 5%
▲6% ▲4% ▲4% ▼2%
GROWTH ADJUSTED FOR FX
REVALUATION
▲0.3%
▲19% vs ▲18% INDUSTRY
▲25% vs ▲17% INDUSTRY
SME
LOANS TO LE
LE
▲14%
▼1%
▲7%
▲1%
▲2%
INDUSTRY
▲18%
SHARE OF CUSTOMER DEPOSITS▲IN TOTAL
LIABILITIES MARKET SHARE
LOANS▲10%
DEPOSITS▲12%
SHARE ▲ IN TOTAL ASSETS
LARGE LOAN REPAYMENTS CONCENTRATION TOP 10 ▼
SHARE ▲ IN TOTAL
CUSTOMER FUNDING
SHARE ▲ IN TOTAL
CUSTOMER
FUNDING
FX
LDR 102.8 % 98.2
ADJUSTED GROWTH OF MORTGAGES
20.2%
▲▼ - yoy
RUB BN
ADJUSTED FOR FX
REVALUATION ▲5%
(1)
4
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20
10.525% 10.525% 10.650% 10.775% 10.900% 11.500%
11.4% 11.6% 11.2% 11.2% 11.2%
8.525% 8.525% 8.650% 8.775% 8.900% 9.500%
9.0% 9.9% 9.2% 9.7% 9.6%
7.025% 7.025% 7.150% 7.275% 7.400% 8.000%
8.0% 9.0% 8.4% 8.9% 8.7%
CAPITAL MANAGEMENT
TOTAL
CAR
CET1
ATT1
MIN. CBR THRESHOLD
01-Jan-19 01-Apr-19 01-Jul-19 01-Oct-19 01-Jan-20 2020►
1,232 1,423
1,388
1,553
1,749 1,829
1-Jan-19 1-Jan-20
COMMON
EQUITY
TIER I
TOTAL CAPITAL
CAPITAL ADEQUACY REGULATORY CAPITAL
▲5%
▲16%
▲12%
BASED ON RUSSIAN REGULATORY REQUIREMENTS WITH TOTAL CAR REPRESENTED BY N20.0, TIER I – N20.2, COMMON EQUITY – N20.1.
▲▼ - yoy
RUB BN
5
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20
2020 GUIDANCE
220-230 RUB bn
LOANS
TO INDIVIDUALS
CoR
NIM
CIR
GROW ABOVE
INDUSTRY
<1%
≈ 40%
LOANS
TO CORPORATES
GROW IN-LINE
WITH INDUSTRY
INDUSTRY
+12%
NET PROFIT
+8%
≈ 3.4%
FY’19 FINANCIAL APPENDIX The P&L statement components have been compared with modified financial results for 2018 for the purposes of accuracy of the year-on-year analysis
(revenue and expenses of VTB Bank (Belgrade) JSC, “Post Bank”, PJSC,"Multicarta“, LLC,VTB Bank, (Ukraine) PJSC and of all companies within VTB
Insurance Group have been excluded as if these companies have not been consolidated by the Group during 2018; gain/loss recognised on disposal
of subsidiaries reflected in the line “Gains from disposal of subsidiaries and associates” have not been adjusted).
7
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20 7
439.7 440.6
FY'18 FY'19
109.0 104.2 109.4 110.2 116.8
4Q'18 1Q'19 2Q'19 3Q'19 4Q'19
3.4% 3.2% 3.3% 3.3% 3.5%
3.7% 3.4%
STRUCTURE AND DYNAMICS OF INTEREST INCOME & EXPENSE
NET INTEREST INCOME GROSS INTEREST INCOME
GROSS INTEREST EXPENSE
▲19%
▲11%
YIELD ON TOTAL
INTEREST BEARING
ASSETS 8.5% 8.4%
NIM
COST OF TOTAL
INTEREST BEARING
LIABILITIES 4.9%
5.2%
▲7.2%
▲▼ - yoy
RUB BN
▲0.2%
997.7 1,107.0
FY'18 FY'19
558.0 666.4
FY'18 FY'19
8
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20 8
72.7 94.0
11.7
10.9 9.3
17.4 27.8
35.3
6.1
8.7
127.6
166.3
FY'18 FY'19
38.5
52.8 1.3
0.9 1.6
1.9 1.3
1.6 0.9
0.6 43.6
57.8
FY'18 FY'19
20.7 18.9 26.0 22.4 41.2
4Q'18 1Q'19 2Q'19 3Q'19 4Q'19
0.6% 0.5% 0.7% 0.6% 1.0%
84.0 108.5
FY'18 FY'19
STRUCTURE AND DYNAMICS OF FEE AND COMMISSION
INCOME & EXPENSE
NET FEE AND COMMISSION INCOME FEE AND COMMISSION INCOME
FEE AND COMMISSION EXPENSE
▲30%
▲99%
▲43%
▲27%
▲87% ▼7%
▲29%
INSURANCE PRODUCTS
DISTRIBUTION AND OTHER
AGENCY SERVICES
SETTLEMENT, TRADE
FINANCE AND CASH
TRANSACTIONS
OTHER
GUARANTEES AND OTHER
CREDIT RELATED
COMMITMENTS
OPERATIONS WITH
SECURITIES AND ON
CAPITAL MARKETS
▲29%
NCM
0.6% 0.7%
▲▼ - yoy
RUB BN
SETTLEMENT, TRADE
FINANCE AND CASH
TRANSACTIONS
OTHER
OPERATIONS WITH
SECURITIES AND ON
CAPITAL MARKETS
▲33%
▼33%
▲19%
▲37%
▲23%
▼31%
GUARANTEES AND OTHER
CREDIT RELATED FACILITIES
RECEIVED
INSURANCE PRODUCTS
DISTRIBUTION AND OTHER
AGENCY SERVICES
34.6рр FEES FROM OPERATIONS WITH SECURITIES AND ON CAPITAL MARKETS
1.9pp INPUT FROM RECENTLY CONSOLIDATED BANKS
17.9pp INSURANCE PRODUCTS DISTRIBUTION AND OTHER AGENCY SERVICES
▲99%
growth including:
37.3рр SETTLEMENT, TRADE FINANCE AND CASH TRANSACTIONS
9
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20 9
76.7 -25.6 1.7 -19.7
5.6 7.5
15.1 61.3
Financial instruments FX Non-banking income
Insurance activities
Excess of fair value ofacquired net assets over
cost
Subsidiaries andassociates
Other Total
STRUCTURE AND DYNAMICS OF OTHER INCOME & EXPENSE
▼6%
65.3 61.3
FY'18 FY'19
▲▼ - yoy
RUB BN
▲179% ▼231% ▲111% ▲132%
▲107% ▼74% ▲35% ▼6%
PENSION CONTRIBUTIONS
ACCOUNTED UNDER IFRS 4
INSURANCE CONTRACTS
10
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20 10
50.7%
9.4% 8.2%
9.7% 14.6%
80.9% 77.2%
11,242 11,080
31-Dec-18 31-Dec-19
107.3
42.7
40.6
49.5
147.9
92.2
FY'18 FY'19
9.3%
653.7 534.3
731.9 687.4
31-Dec-18 31-Dec-19
95%
4% 1%
28%
2% 70%
17.4
61.9
12.8
12M'19
PROVISION CHARGE FOR LOAN IMPAIRMENT
INDIVIDUALS
LE
PASS
STAGE 1
WATCH
SUB-STANDARD
DOUBTFUL
NPL
STAGE 2
STAGE 3
+ POCI
LOANS AT AMORTISED COST BY ECL STAGES
NPL RATIO
PROVISION FOR LOAN IMPAIRMENT
ALLOWANCE FOR LOAN IMPAIRMENT/TOTAL
GROSS LOANS
BS
COVERAGE 128.7% ▲17pp
STAGE 1
STAGE 3
+ POCI
0.9%
ALLOWANCE
RATIO
STAGE 2
▼38%
COR REFLECTS STABLE ASSET QUALITY IN ALL BUSINESS SEGMENTS
2018 P&L results were adjusted to reflect the changes in the Group’s structure (deconsolidation of Post bank, Multicarta and VTB Bank Ukraine,
disposal of VTB Insurance Group and VTB Bank Belgrade).
92.1
▼18%
▼6%
112.0%
NPL
PROVISION
RUB BN
COR
P&L
1.5%
0.8%
1.6% 1.5%
1.4% 0.5%
FY'18 FY'19
5.7%
4.7%
TOTAL
41%
2%
57%
▲▼ - yoy
RUB BN
6.4% 6.0%
31-Dec-18 31-Dec-19
11
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20 11
FY’19 Results | 26-Feb-20
137.5 157.8
88.3 96.4
225.8 254.2
FY'18 FY'19
1.7% 1.7%
FY'18 FY'19
43.9% 37.7%
38.3% 41.6%
42.4 40.2
29.0 29.7
71.4 69.9
4Q'18 4Q'19
COSTS GROWTH SLOWING DOWN IN 2H’19
STAFF AND ADMINISTRATIVE COSTS
▲9%
▲15%
▲12.6%
▼ 2%
THSD
VTB BANK
SUBSIDIARIES
▼5%
▲2%
CIR
COSTS /
AVERAGE
ASSETS
2018 P&L results were adjusted to reflect the changes in the Group’s structure (deconsolidation of Post bank, Multicarta and VTB Bank Ukraine,
disposal of VTB Insurance Group and VTB Bank Belgrade).
ADMINISTRATIVE
EXPENSES
STAFF COSTS
INCLUDING
PENSIONS
▲330bp
FY’19
4Q’19
flat
2.0% 1.8%
4Q'18 4Q'19
▼620bp
▼20bp
CIR
COSTS /
AVERAGE
ASSETS
AVERAGE NUMBER OF EMPLOYEES
53.0 58.9
36.5 22.7
89.5 81.6
FY'18 FY'19
RUB BN
58.0 59.6
19.7 23.3
77.7 82.9
4Q'18 4Q'19
12
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20
58% 55% 56% 57% 54%
42% 45% 44% 43% 46%
10,404 10,149 10,738 11,288 10,974
31-Dec-18 31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19
102.8% 104.0% 101.5%
99.1% 98.2%
74% 72% 72% 71% 71%
26% 28% 28% 29% 29%
11,424 11,288 11,623 11,913 11,462
31-Dec-18 31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19
LOANS /
DEPOSITS
(LDR)
NET LOANS AND
ADVANCES TO CUSTOMERS
CUSTOMER DEPOSITS
CUSTOMER DEPOSITS / TOTAL LIABILITIES
31-Dec-18
INDIVIDUALS
LEGAL ENTITIES
flat ▼ 4%
▲ 5% ▼ 3%
LOAN PORTFOLIO AND CUSTOMER DEPOSITS
LOANS AND ADVANCES TO CUSTOMERS RUB BN
LOANS BY INDUSTRY LOANS AND DEPOSITS BY CURRENCY %
CUSTOMER DEPOSITS RUB BN
31-Dec-19
78.6% 76.3% 79.5% 80.5% 79.2%
RUB 72%
RUB 78%
FX 28%
FX 22%
31-Dec-18
31-Dec-19
RUB 65%
RUB 68%
FX 35%
FX 32%
31-Dec-18
31-Dec-19
29%
11%
9%
5%
8%
6%
6%
6%
4%
4%
2%
3%
7%
26%
10%
10%
8%
7%
7%
6%
5%
4%
4%
4%
3%
6%
Individuals
Building construction
Oil and Gas
Government bodies
Metals
Manufacturing
Trade and commerce
Transport
Telecommunications and media
Energy
Chemical
Finance
Other
13
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20
74% 76% 75% 75% 77%
26% 24% 25% 25% 23%
5,996 5,582 6,030 6,486 5,933
31-Dec-18 31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19
8,435 8,122 8,324 8,491 8,096
31-Dec-18 31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19
BUSINESS WITH LEGAL ENTITIES
20.2% Deposits of
legal entities
18.2% Loans to
legal entities
COST OF DEPOSITS OF LE YIELD ON LOANS TO LE
(1) The market share is calculated using VTB’s methodology with data from the Bank of Russia based on RAS statements.
DATA AS OF 31-DEC-19
▼50 bp ytd ▼40 bp ytd
▼ 4% ▼ 5%
▼ 1% ▼ 9%
LOANS TO LEGAL ENTITIES
YIELD ON LOANS AND COST OF DEPOSITS MARKET SHARES (1)
DEPOSITS OF LEGAL ENTITIES
CURRENT / SETTLEMENT ACCOUNTS TERM DEPOSITS
7.6% 7.7% 7.5% 7.5%
5.1% 5.2% 4.8% 4.8%
1Q'19 2Q'19 3Q'19 4Q'19
5.0%
7.6%
FY’19
RUB BN
14
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20
11.9% 11.8% 11.9% 11.8%
4.8% 4.9% 5.0% 4.8%
1Q'19 2Q'19 3Q'19 4Q'19
75% 78% 76% 76% 72%
25% 22% 24% 24% 28%
4,408 4,567 4,709 4,803 5,042
31-Dec-18 31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19
48% 48% 48% 48% 48%
4% 4% 4% 4% 4% 4% 4% 4% 4% 4%
44% 44% 44% 44% 44%
2,989 3,166 3,300 3,421 3,365
31-Dec-18 31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19
LOANS TO INDIVIDUALS
YIELD ON LOANS AND COST OF DEPOSITS MARKET SHARES (1)
DEPOSITS OF INDIVIDUALS
CURRENT / SETTLEMENT
ACCOUNTS
CONSUMER LOANS AND OTHER
MORTGAGE LOANS
CAR LOANS
CREDIT CARDS TERM DEPOSITS
BUSINESS WITH INDIVIDUALS
DATA AS OF 31-DEC-19
15.1% Deposits of
individuals
17.4% Loans to
individuals
▲ 110 bp ▼ 30 bp
▲ 13% ▼ 2%
▲ 14% ▲ 5%
COST OF DEPOSITS OF INDIVIDUALS YIELD ON LOANS TO INDIVIDUALS
(1) The market share is calculated using VTB’s methodology with data from the Bank of Russia based on RAS statements.
4.9%
11.9%
FY’19
RUB BN
15
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20
827
1,339
241 25
2020 2022 2024 2035
4% 6% 6% 6% 6%
2% 2% 2% 2% 2%
2% 2% 2% 2% 2%
79% 76% 79% 80% 79%
13% 14% 11% 10% 11%
13,238 13,295 13,515 14,030 13,863
31-Dec-18 31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19
11% 11% 12% 12% 13%
72% 71% 72% 72% 69%
5% 7% 4% 4% 4%
4% 5% 5% 5% 5%
7% 6% 7% 7% 9%
14,761 14,842 15,055 15,625 15,516
31-Dec-18 31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19
OTHER ASSETS
SECURITIES PORTFOLIO
LOANS TO CUSTOMERS
DUE FROM OTHER BANKS
CASH, SHORT-TERM FUNDS AND
MANDATORY RESERVES
BALANCE SHEET STRUCTURE
USD
CHF
OTHER LIABILITIES
SUBORDINATED DEBT
DEBT SECURITIES ISSUED
CUSTOMER DEPOSITS
DUE TO BANKS AND OTHER
BORROWED FUNDS
▲5%
▲1% ▲1% ▲4%
▲5%
flat ▲2% ▲4%
ASSETS STRUCTURE
INTERNATIONAL DEBT MATURITY PROFILE (1) USD MLN
LIABILITIES STRUCTURE
(1) Net of bought back public debt. exchange rates published by the CBR as of December 31, 2019. In addition to international debt, VTB Group currently has RUB 192.1 bn domestic bonds (as of February 21, 2020).
▼1% ▼1%
RUB BN
16
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20
VTB GROUP FINANCIAL HIGHLIGHTS: P&L AND KEY RATIOS
12M’19 12M’18 Change 4Q’19 4Q’18 Change
NIM 3.4% 3.7% -30bp 3.5% 3.4% 10bp
CoR 0.8% 1.5% -70bp 0.6% 1.7% -110bp
Cost / Assets 1.7% 1.7% 0bp 1.8% 2.0% -20bp
CIR 41.6% 38.3% 330bp 37.7% 43.9% -620bp
ROE 12.8% 11.9% 90bp 17.9% 11.0% 690bp
INCOME STATEMENT KEY INDICATORS RUB bn
KEY FINANCIAL RATIOS
12M’19 12M’18 Change 4Q’19 4Q’18 Change
Net interest income 440.6 439.7 0.2% 116.8 109.0 7.2%
Net fee and commission income 108.5 84.0 29.2% 41.2 20.7 99.0%
Net other income 61.3 65.3 -6.1% 27.4 32.8 -16.5%
Operating income before provisions 610.4 589.0 3.6% 185.4 162.5 14.1%
Provision charge for credit losses and other provisions -103.3 -154.6 -33.2% -25.5 -55.7 -54.2%
Staff costs and administrative expenses -254.2 -225.8 12.6% -69.9 -71.4 -2.1%
Profit before tax 252.9 208.6 21.2% 90.0 35.4 154.2%
Income tax expense -51.7 -30.4 70.1% -16.8 6.2 -371.0%
Net profit 201.2 178.2 12.9% 73.2 41.6 76.0%
17
10
41
115
241
204
86
234
107
80
0
170
255
0
40
130
135
135
135
120
180
151
214
224
141
197
199
200
FY’19 Results | 26-Feb-20
31-Dec-19 30-Sep-19 4Q to 3Q 31-Dec-18 YOY
NPL ratio (1) 4.7% 5.5% -80bp 5.7% -100bp
LLR ratio 6.0% 6.1% -10bp 6.4% -40bp
Coverage ratio 128.7% 112.4% 1630bp 112.0% 1670bp
(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.
VTB GROUP FINANCIAL HIGHLIGHTS: BALANCE SHEET
BALANCE SHEET KEY INDICATORS RUB bn
KEY ASSET QUALITY RATIOS
31-Dec-19 30-Sep-19 4Q to 3Q 31-Dec-18 YOY
Gross loan portfolio 11,461.5 11,912.7 -3.8% 11,423.5 0.3%
Loans to legal entities 8,096.2 8,491.3 -4.7% 8,435.0 -4.0%
Loans to individuals 3,365.3 3,421.4 -1.6% 2,988.5 12.6%
Total assets 15,516.1 15,624.6 -0.7% 14,760.6 5.1%
Customer deposits 10,974.2 11,288.4 -2.8% 10,403.7 5.5%
Deposits of legal entities 5,932.6 6,485.7 -8.5% 5,995.8 -1.1%
Deposits of individuals 5,041.6 4,802.7 5.0% 4,407.9 14.4%
Total liabilities 13,862.8 14,030.1 -1.2% 13,237.6 4.7%
Total shareholders' equity 1,653.3 1,594.5 3.7% 1,523.0 8.6%
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
