Results of International Bank of Saint-Petersburg for 2013 (according to Russian Accounting Standards)

25.03.2014

International Bank of Saint-Petersburg summarized the results of its activity for 2013 (according to Russian Accounting Standards, taking Events After the Balance Sheet Date into account); the results showed the positive dynamics of key indicators. As of January 1, 2014, the equity capital of the Bank amounted to RUB 7 bln., net assets amounted to RUB 52.3 bln., and net lending receivables amounted to RUB 38.5 bln. Annual profit before tax exceeded RUB 464 mln. Standard and Poor’s confirmed the high rating of International Bank of Saint-Petersburg at the level of “ruBBB+”, the forecast is “Stable”.

During 2013, International Bank of Saint-Petersburg increased its capital by RUB 60 bln. which amounted to RUB 7 bln. as of 01.01.2014. Net assets of the Bank increased from RUB 51.0 to 52.3 bln., and net lending receivables increased from RUB 37.5 to 38.5 bln. Retained earnings of the Bank after posting the events occurring after the balance sheet date and before tax reached RUB 464 mln. as of 01.01.2014.

Successful development of International Bank of Saint-Petersburg in 2013 was reflected in assessment of Standard and Poor’s Rating Agency which confirmed long-term credit ratings of International Bank of Saint-Petersburg according to the international scale at “В” level, according to the national scale at “ruBBB+” level, the forecast is “Stable”.

“In 2013, the Bank’s growth rate were in line with the growth rate of economy. Reliability and stability prevail over instantaneous yield and remain the main criteria of success of International Bank of Saint-Petersburg. Formerly, we paid special attention to the quality of advances portfolio, built the new system of credit risk management, thus we laid the good basis for growth of indicators in 2014. I am satisfied with stable results of International Bank of Saint-Petersburg in the preceding year, and I am sure in successful development of the Bank next year,” Sergey Bazhanov, President of International Bank of Saint-Petersburg says.

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