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Presentation. August 2010. 1. Overview. 2. Key Investment Highlights. Extensive distribution network in Moscow and key Russian regions. Improving outlook for Russian economy and banking sector with long-term growth story intact.

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  1. Presentation August 2010 1

  2. Overview 2

  3. Key Investment Highlights Extensive distribution network in Moscow and key Russian regions Improving outlook for Russian economy and banking sector with long-term growth story intact Track record of strong support from the City of Moscow – the Bank’s largest shareholder and Russia’s wealthiest municipality Leading and progressively strengthening Russian banking franchise: #5 by net assets and loan portfolio, #3 by retail deposits* Solid earnings generation with positive profitability sustained even through crisis Diversified business model spanning corporate, retail, private banking and asset management Strong risk profile and balance sheet with relatively low NPLs, conservative provisioning, high collateral and high capital adequacy Investment grade credit ratings that are among highest for Russian banks * Source: Kommersant Dengi Magazine(№11) figures as of January 1, 2010 3

  4. Top-5 Russian bank by net assets, capital and loan portfolio** Top-3 deposit taker** Controlled and historically supported by the City of Moscow Wide range of banking services, including corporate and retail lending and deposit services, private banking, investment banking and asset management The Bank serves 9.7 mn retail and 105,000 corporate and public sector customers Bank of Moscow at a Glance * Source: Bank of Moscow IFRS Consolidated Financial Statements as at respective date ** Source: Kommersant Dengi Magazine(№11) figures as of January 1, 2010 4

  5. United Statesof America United Statesof America Norway “Eesti Krediidipank” (Tallin) Finland “Latvian Businessbank” (Riga) Petrozavodsk Estonia Vyborg Latvia Poland Kaliningrad St. Petersburg Vologda Byelorussia Arkhangelsk Velikiy Novgorod “Moscow-Minsk” (Minsk) Yaroslavl Moscow Kovrov Syktyvkar Kirov Orel Ukraine Tula Nizhny Novgorod Cheboksary Petropavlovsk—Kamchatsky Kursk Lipetsk Berezniaki “BM Bank” (Kiev) “Zarechye”(Kazan) Kazan Belgorod Perm Rostov-on-Don Russian Federation Voronezh Izhevsk Saratov Sochi Krasnodar Yekaterinburg Volgograd Samara Stavropol Maykop Yakutsk Tyumen Ufa Orenburg Chelyabinsk Vladikavkaz Astrakhan Tomsk Omsk Orsk Turkey Yuzhno—Sakhalinsk Novosobirsk Kransnoyarsk Kazahkstan Kemerovo Khabarovsk Novokuznetsk Japan Barnaul Ulan-Ude Irkutsk Iran Regional Branches China Vladisvostok Subsidiary and Affiliate Banks Branch Network • Moscow-based with wide geographical reach • 134 offices and sub-offices and 474 desks at postal offices in Moscow and Moscow Region* • The Group operates 68 regional branches which supervise a further 69 full-service sub-branches and 113 sub-branches providing retail services and 8 cash offices located in the territory of Russia* • With total 394 outlets throughout the country – presence in 60 regions* • Foreign subsidiaries in Belarus, Latvia, Estonia, Ukraine, Serbia and Representative office in Frankfurt * Source: Bank of Moscow as of 1 May, 2010 5

  6. Macroeconomic and Industry Environment 6

  7. GDP Growth, Fiscal and Monetary Position Economy and Growth Real GDP Growth vs. Peer Countries Oil Price and Foreign Reserve Monetary Indicators Source: CBR historical data for Foreign Reserve, Economist Intelligence Unit, June 18, 2010 for other indicators 7

  8. Business Overview 8

  9. Business Overview Bank of Moscow’s Market Position Top Russian Banks by Total Assets (RUB, bn) Top Russian Banks by Retail Deposits (RUB, bn) 7 158 3 674 Top Russian Banks by Capital (RUB, bn) Top Russian Banks by Loan Portfolio (RUB, bn) 5 366 863 Source: Kommersant Dengi Magazine(№11) figures as of January 1, 2010 9

  10. Business Overview Bank of Moscow is among the highest rated in the Russian banking sector A A2 A- A3 BBB+ Baa1 BBB Baa2 BBB- Baa3 BB+ Ba1 BB Ba2 BB- Ba3 B+ Source: Senior Unsecured Eurobond Ratings 10

  11. Business Overview The City of Moscow has been the largest shareholder of the Bank since it was established in 1995 Combined stake of the City of Moscow in the Bank’s share capital is 63.59%, including 46.48% stake of the Property Department of the City of Moscow and 17.11% stake of Stolichnaya Strakhovaya Gruppa, which in turn is controlled by the City of Moscow and the Bank of Moscow Group The City has participated in all of the Bank’s 14 equity issues Mr. Andrey Borodin, Chairman of the Management Board, and Mr. Lev Alaluev, Deputy Chairman of the Board of Directors, indirectly jointly control 20.32% of the Bank Shareholder Structure OJSC “GSM Investments” 3.16% LLC “GSM” 3.25% Others 3.03% Credit Suisse International 2.77% Goldman Sachs International 3.88% Beneficial Ownership of Mr. Borodin and Mr. Alaluev 20.32% Property Department of the City Moscow 46.48% Controlled by the City of Moscow OJSC Stolichnaya Strakhovaya Gruppa 17.11% Source: Bank of Moscow 11

  12. Business Overview Capital Adequacy • BoM has a strong capital position • As of December 31, 2009 the Bank’s total capital ratio (Basel 1 Accord) was 18.9%, and Tier 1 ratio was 12.8%* • The Bank has been proactively increasing its capitalisation: • In July 2009 BoM raised RUB 20 bn in its 13th additional share issue • On July 26 2010 14th issue was successfully registered with the CBR and boosted the capital of the Bank by RUB 21.7 bn. • On October 15, 2009 Vnesheconombank (VEB) extended a 10-year subordinated loan to the Bank for RUB 11.1 bn Capital Adequacy Capital Base* (RUB bn, %) min 8% (Basel 1 Accord) * Source: Bank of Moscow, IFRS Consolidated Financial Statements as of December 31, 2009 12

  13. Business Overview Main Business Lines Retail Banking Corporate and Investment Banking • Corporate lending • Syndicated loans • Trade finance and guarantees • Foreign trade and exchange operations • Debt Capital Markets (Local and International) • Payment and account services • Securities trading • Precious metals • Depositary services • Underwriting • Research • Current and deposit accounts • Loan services • Mortgages • Debit and credit cards • Money transfers • Internet and telephone banking • Internet trading (“Mos-broker”) Asset Management & Private Banking • Private asset management services • Fund management services • Mutual and pension funds • Private Banking 13

  14. FOCUS ON MAINTAINING LEADING POSITION AS TOP 5 RUSSIAN BANK AND IMPROVING EFFICIENCY, PROFITABILITY AND CURRENT FRANCHISE AS OPPOSED TO AGGRESSIVE GROWTH Retail Banking • Leverage strong retail brand and branch network • Continue developing lending and deposits products as a key focus area – grow retail deposits market share Corporate & Investment Banking • Focus on acquiring new customers and developing relations with existing ones • Continue servicing all client segments, yet pay particular attention to strengthening presence in SME segment • Build customer relationships and increase cross-selling, including investment banking products Private Banking & Asset Management • Target high net worth individuals, while seeking to provide product diversity and service quality in line with best international practices Prudent Risk Management Policy • Emphasis on raising effectiveness of risk management • Control over the quality of the loan and securities portfolio • Credit risk diversification and strengthening of underwriting standards Business Efficiency and Market Positions • Increase business efficiency • Maintain leading positions in the national banking industry • Tighten control over costs and expenses Branch Network • Retain and strengthen positions in the regions • Use the regional network to diversify client and risk concentration • Short-term focus on efficiency improvement of existing network, over medium-term potentially resume network organic growth Business Overview Business and Operating Strategy Businesses Operational 14

  15. Business Overview Corporate and Investment Banking • Over 105,000 corporate and public sector customers as of December 31, 2009* • Focus on strategically important sectors of Russian economy • Corporate banking dominates the asset side of the balance sheet • Involvement in financing of the key projects of the City of Moscow • SME – strategically important sector • Increasingly active in trade financing • Developing of investment banking services, including underwriting, debt issuance, research Loan Portfolio to Legal Entities** 6.1% 489.5 416.4 281.5 222.8 1.5% 0.9% 0.8% Deposits and Accounts of Legal Entities** (RUB bn) 250,6 55.6% 52.6% 46.9% 45.7% 10.5% 9.1% 17.9% 7.7% 36.9% 44.0% 46.6% 26.5% * Source: Bank of Moscow ** Source: Bank of Moscow IFRS Consolidated Financial Statements as of December 31, 2009 15

  16. Business Overview Retail Banking • No. 3 retail deposit taker in Russia* • RUB 177.5 bn of term deposits and current accounts as of December 31, 2009** • Approved by CBR to participate in the Deposit Insurance System, authorized bank of the Deposit Insurance Agency to manage retail accounts of the banks with withdrawn licenses • Over 9.7 mn retail customers as of December 31, 2009*** • 14.1 mn plastic cards as of July 1, 2010 • RUB 88.3 bn – retail loan portfolio (gross) as of December 31, 2009** • Wide range of retail services, including Muscovite Social Cards - a combination of a bank debit card, an ID, an insurance identification card and public transportation travel card for Muscovites • As at July 1 2010, BoM had 1,842 ATMs in operation • Advanced Internet and Telephone banking Overview Retail Loan Portfolio** (RUB bn) 15.4% 3.8% 2.9% 5.7% Retail Deposits and Accounts** (RUB bn) Retail Loan Portfolio Breakdown** (2009) Credit Cards 1,6% Scoring Loans 6,6% Car Loans 11,8% Mortgages 31,1% Consumer Loans 48,9% * Source: Kommersant Dengi (№11) figures as of January 1, 2010 ** Source: Bank of Moscow IFRS Consolidated Financial Statements as of December 31, 2009 *** Source: Bank of Moscow 16

  17. Business Overview Bank of Moscow’s Loan Portfolio • Loan portfolio is diversified by industries and geographically, which is in line with the credit risk management approach • More than a half of the Group’s loan book is concentrated beyond the borders of Moscow and Moscow region* • Related-party lending, which includes lending to municipal entities of the City of Moscow, accounted for 2.5% of the Group's gross loan portfolio as at 31 December 2009 • Loan portfolio is dominated by loans in local currency. Loans in foreign currencies account for 33,3% of total loans to customers* Overview Loan Portfolio Breakdown by Industry Sectors** State Agencies 3,2% Others 5,2% Food Industry 2,5% Transport & Comms 4% Corporate Loans 88% Individuals 15,3% Metallurgy 3,8% Fuel& Energy 6,2% Trade 10,9% Financial & OtherServices 21,8% Construction 13,9% Manufacturing12,5% Loan Portfolio Breakdown by Currency* (2009) Other 3,9% EUR 3,7% USD 25,7% RUB 66,7% * Source: Bank of Moscow as of December 31, 2009 ** Source: Bank of Moscow, IFRS Consolidated Financial Statements as of December 31, 2009 17

  18. Business Overview Bank of Moscow’s Loan Portfolio (Cont’d) Overdue Loans and Allowance for Loans Losses Client Concentration: Twenty Largest Borrowers (RUB bn) • As of December 31, 2009 the provisions totalled RUB 43.3 bn, a 3.4 times growth from the beginning of 2009 • As of December 31, 2009 LLPs comprised 7.5% of the loan portfolio compared to 2.4% as of December 31, 2008 • NPLs accounted for 3.9% of the Group’s gross loan portfolio • The NPLs are 1.9 times covered by provisions • Concentration of top 20 borrowers in the total loan portfolio increased to 27.5% due to slowdown of the economy • Net loan portfolio 2.0 times over-collateralised as at 31 December 2009 Source: Bank of Moscow, IFRS Consolidated Financial Statements as of December 31, 2009 18

  19. Business Overview Conservative Credit and Market Risk Policies in Place • Vertically integrated risk management system implemented throughout the Bank, including regional branches, with the CRO reporting directly to the Bank’s CEO and the Management Board • Credit Committee, Small Credit Committee and Mortgage Committee are authorised to make independent lending decisions • Centralized decision making on issuance of retail loan products Credit Risk • Based on recommendations and requirements of CBR, Basel Committee and auditors • Single borrower/economic group limits • Product type/geographic/industry concentration limits • Ongoing monitoring of borrower’s conditions and collateral • Centralisation of underwriting standards to address the crisis Interest Rate Risk • Measured via gap and interest rate sensitivity models • Also employ stress testing and scenario analysis techniques Currency Risk • Limited open foreign currency position, stop-loss, country and borrower limits • Centralised control over exchange rates in currency operations • In accordance with CBR regulations, currency risk exposure cannot exceed 20% of the Group’s equity in all currencies • Currency position is controlled by the CBR on a daily basis Liquidity Risk • Managed with the aid of scenario analysis, simulative, optimising and predictive modelling • Strict CBR controls on instant (N2) and current (N3) liquidity standards • Monitored on a daily basis 19

  20. US$300mn US$500mn US$750mn CHF 250mn Due 2010 Due 2013 Due 2015 Due 2011 IssuedMay-2005 IssuedMay-2006 IssuedMar-2008 IssuedMar-2010 US$300mn US$400mn Due 2015 Due 2017 IssuedNov-2005 IssuedMay-2007 RUB 10,000mn RUB 10,000mn Due 2011 Due 2013 IssuedAug-2008 IssuedFeb-2008 US$400mn US$220mn US$250mn RUB 5,000mn US$500mn US$600mn US$30mn&€105mn US$105mn US$350mn Due 2009 Due 2009 Due 2009 Due 2008 Due 2009 Due 2010 Due 2010 Due 2011 Due 2011 Issued May-2008 Issued Sep-2004 Issued Nov-2006 IssuedNov-2006 Issued May-2006 IssuedNov-2007 IssuedMar-2007 IssuedDec-2009 IssuedJan-2009 Business Overview International and Local Capital Markets Funding History Eurobonds LT2 Debt (Subordinated Eurobonds) Local Bonds Syndicated Loans Repaid • Within 5 years (2006-2010) the Bank of Moscow raised equivalent of USD 4.25bn and RUB 25bn from the international and local capital markets 20

  21. Financial Overview 21

  22. Financial Overview Overview of Assets and Liabilities • Strong and relatively stable deposit base has always been one of the key advantages of the Bank • As of December 31, 2009, customers accounts comprised 58.0% of the Bank’s liabilities • Customer accounts increased 5.3% for 12 months of 2009 • Reliance on wholesale financing is currently low • Access to variety of liquidity facilities Assets Assets (RUB bn) • Assets well-balanced in terms of risk-return profile • Portfolio of securities mostly issued by federal and municipal government agencies and leading Russian corporates in accordance with conservative risk policy • Fixed-income instruments dominate trading securities portfolio • Over-collateralized loans to customers portfolio 735 686 473 343 Liabilities Liabilities (RUB bn) 734 739 480 350 Source: Bank of Moscow, IFRS Consolidated Financial Statements as of December 31, 2009. 22

  23. Financial Overview Deposit Base • Continued diversification of deposit base state funding available through: CBR facilities (unsecured and secured loans, repo transactions), Ministry of Finance deposits and funds of state-owned corporations • The Bank is authorised to tender for budget funds of the City of Moscow along with several other banks Growth in Deposits* (RUB bn) Composition of Client Deposit Portfolio By Deposit Type* Current / Demand Accounts34.5% Term Deposits65.5% By Customer Type* Other commercial+ legal entities 32.5% Individuals41.5% State-ownedorganisations10.5% Federal budgets + regional funds 15.5% * Source: Bank of Moscow, IFRS Consolidated Financial Statements as of December 31, 2009. 23

  24. Financial Overview Operating Income (RUB bn) Profit and Loss (RUB bn) Cost to Income Ratio* (RUB bn, %) Selected Profitability Ratios* Source: Bank of Moscow IFRS Consolidated Financial Statements as of December 31, 2009 24

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