INVESTMENT HIGHLIGHTS
AK BARS Bank No. 1 in Tatarstan1, with extensive local and federal network. (‘BBB’ Long-term foreign and local currency international-scale ratings of the Republic of Tatarstan. Outlook: Negative2).
Operating in one of the most economically developed regions in Russia:
- Gross regional product (GRP) growth rate of 2% in 2013 vs. 1,3% (GDP) in Russia as a whole.
- ‘Tatarstan leads Top-30 list of best regions for doing business in Russia’. Forbes Magazine, May 2011.
Strong relationship with Tatarstan Government:
- As at 30 June 2014, the Republic of Tatarstan, a constituent of the Russian Federation, ultimately controlled the Bank through Ministries, Government Agencies and related Companies.
- AK BARS Bank is an official agent of the Government of the Republic of Tatarstan.
Dominant market position in the Republic of Tatarstan:
- According to the Central Bank of Russia (July, 2014), AK BARS Bank represents 37.0% of total assets and 45% of total capital in the Republic’s Bank sector.
- Top-20 bank in Russia; 18th by assets and 16th by equity. Profile Magazine, 1st November, 2014.
Extensive branch network in Tatarstan and across Russia:
- Broad geographic footprint in 31 regions in Russia.
- Ranked 11th largest distribution network in Russia with 44 branches and 352 other offices. (Central Bank of Russian Federation, as of 1st July, 2014 excluding Sberbank network).
Tailor-made clientele approach.
Effective infrastructure for asset investments and properties (Asset Management and Unit Funds).Strong and experienced Management Team.
- According to the ‘Bank Bulletin’, published by the National Bank of the Republic of Tatarstan, as at 1st July, 2014, AK BARS Bank ranked 1st in the Republic of Tatarstan by assets.
- By ‘Fitch Ratings’ – 25 July, 2014
AK BARS Bank: RECENT DEVELOPMENTS:
- December, 2014:
- AK BARS Bank successfully issues BО-04 series 5 bln. ruble bonds maturing in 3 years with allocation at Moscow Exchange
- AK BARS Bank successfully closes its mortgage portfolio securitization deal within the issue of mortgage-backed bonds in the amount of RUB $2.5 bln. under the Programme of Vnesheconombank - Investment in Affordable Housing Construction Projects and Mortgage Lending in 2010-2013
- April, 2014: AK BARS is one of the first Russian banks to receive the status of a Participating Financial Institution in accordance with the U.S. Foreign Account Tax Compliance Act (FATCA), and an individual identification number ZDFUFB.00000.LE.643 (GIIN)
- December, 2013: AK BARS Bank raises US$ 100,000,000 within Murabaha facility (Bloomberg <BF1230254>) Corp Go). The deal was awarded by special honorable prize as Europe’s Best Deal of the Year.
- August, 2013: AK BARS Bank issues 5 bln. BO-03 series ruble bonds.
- June, 2013:MICEX has authorized the trading of three-year bonds issued by AK BARS Bank worth a total of 13 bn. rubles
- March, 2013: AK BARS Bank issues 5 bln. BO-02 series ruble bonds.
- November 2012: AK BARS Bank issues US$ 500 million 8.75 per cent. Eurobonds due 2015 in the form of LPN under its US$ 1.5 billion EMTN Programme.
- October 2012: AK BARS Bank issues 5 bln. BO-01 series ruble bonds.
- July 2012: AK BARS Bank raises US$ 600 million within the US. $1.5 billion EMTN programme, for the issuance of 8 per cent. Loan Participation Notes due 2022.
- 14 July 2012: According to RAS, AK BARS Bank’s total capital increased to RUB 54,437 billion and its capital adequacy ratio to 16.08 per cent
- Bank’s Murabaha Islamic Financing facility (Bloomberg <BL0179715>) awarded ‘Deal of the Year 2011’ by the Islamic Finance News Awards.
AK BARS Bank: KEY RATIOS:
Key ratios | FY2009 | FY2010 | FY2011 | FY2012 | FY2013 | 1H2014 |
---|---|---|---|---|---|---|
Net loans / deposits | 164.5% | 112.4% | 107.6% | 116.5% | 110.1% | 121.8% |
Provisions / gross loans | 11.7% | 12.5% | 9.4% | 9.3% | 8.6% | 8.1% |
Deposits / assets | 43.3% | 54.8% | 57.0% | 55.2% | 58.5% | 55.1% |
Equity / assets | 12.8% | 12.8% | 9.3% | 9.0% | 8.9% | 8.5% |
Tier 1 capital ratio | 14.1% | 13.2% | 9.4% | 9.1% | 9.7% | 8.8% |
Total capital ratio | 17.6% | 16.2% | 11.8% | 13.6% | 14.5% | 13.2% |
Key ratios | 1H2009 | 1H2010 | 1H2011 | 1H2012 | 1H2013 | 1H2014 |
---|---|---|---|---|---|---|
Net interest margin | 3.2% | 4.1% | 2.2% | 3.2% | 2.8% | 2.9% |
RoAA | 0.7% | (0.5%) | 0.0% | 0.2% | 1.0% | 0.0% |
RoAE | 7.4% | (4,4%) | 0.1% | 2.2% | 11.5% | 0.5% |
AK BARS Bank: FINANCIAL HIGHLIGHTS:
(USD in millions, at constant RUB/USD exchange rate1)
Balance sheet | 2009 | 2010 | 2011 | 2012 | 2013 | 1H2014 | GROWTH 09-1H2014 |
---|---|---|---|---|---|---|---|
Cash and equivalents | 600 | 497 | 563 | 1,071 | 1,170 | 981 | 163.5% |
Securities portfolio (including direct repo) | 478 | 924 | 1,407 | 901 | 1,585 | 1,630 | 341.2% |
Due from other banks | 107 | 90 | 102 | 116 | 28
| 21 | 19.5% |
Gross loans | 5,124 | 4,830 | 5,775 | 6,694 | 7,277 | 7,872 | 153.6% |
Provisions | (600) | (603) | (543) | (622) | (623) | (636) | 105.9% |
Net loans | 4,524 | 4,228 | 5,232 | 6,072 | 6,654 | 7,237 | 160.0% |
Investment properties | 259 | 682 | 764 | 787 | 353 | 352 | 135.6% |
Other assets | 384 | 442 | 464 | 493 | 532 | 558 | 145.3% |
Total assets | 6,352 | 6,863 | 8,532 | 9,439 | 10,322 | 10,779 | 169.7% |
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Due to other banks | 634 | 323 | 1,201 | 1,114 | 821 | 1,186 | 187.0% |
Customer accounts | 2,751 | 3,762 | 4,863 | 5,213 | 6,043 | 5,940 | 215.9% |
Securities issued | 1,219 | 1,126 | 1,103 | 1,190 | 1,410 | 1,476 | 121.2% |
Murabaha facility and Eurobonds | 675 | 524 | 311 | 453 | 490 | 601 | 89.0% |
Subordinated debt | 202 | 201 | 200 | 560 | 603 | 620 | 306.8% |
Other liabilities | 60 | 50 | 57 | 64 | 38 | 37 | 62.3% |
Total liabilities | 5,541 | 5,987 | 7,735 | 8,594 | 9,406 | 9,860 | 178.0% |
Equity | 811 | 876 | 797 | 845 | 916 | 918 | 113.2% |
Total liabilities and equity | 6,352 | 6,863 | 8,532 | 9,439 | 10,322 | 10,779 | 169.7% |
Profit and Loss Statement | 1H2009 | 1H2010 | 1H2011 | 1H2012 | 1H2013 | 1H2014 |
---|---|---|---|---|---|---|
Net Interest Income | 79 | 110 | 57 | 103 | 104 | 122 |
Net fee and Commission income | 15 | 13 | 15 | 20 | 20 | 8 |
Other Income | 67 | 10 | 41 | 48 | 85 | 57 |
Operating profit | 161 | 132 | 114 | 171 | 210 | 187 |
Operating expenses | (56) | (86) | (86) | (101) | (120) | (117) |
Total profit before Provisions and Taxes | 105 | 46 | 27 | 70 | 90 | 70 |
Provision for loan impairment | (123) | (45) | (16) | (36) | (30) | (68) |
Profit before tax | (18) | 1 | 11 | 34 | 60 | 3 |
Income tax | 4 | 0 | (2) | (6) | (10) | 0,5 |
Net profit | (15) | 1 | 9 | 27 | 50 | 2 |