Vtb · RUS:VTBR
Vtb — H1 2010 Earnings Presentation
16 slides from Vtb's earnings presentation, Sep 2, 2010
Slide 1: VTB Group 6M'10 Results
VTB Group 6M’10 Results Herbert Moos, CFO, Deputy Chairman of the Management Board Jyrki Talvitie Senior Vice President, Head of Investor Relations September 2, 2010 Moscow 1 © VTB 2010
Slide 2: Forward-looking statements disclaimer
Some of the information in this presentation may contain projections or other forward-looking statements regarding future events or the future financial performance of JSC VTB ("VTB") and its subsidiaries (together with VTB, the "Group"). Such forward-looking statements are based on numerous assumpt
Slide 3: 1H'2010 Highlights
1H’2010 Highlights ■ Record net profit in 1H’2010 − RUB 25.1 bn ■ Corporate Banking posts a solid 1H’2010 − RUB 18.3 bn pre-tax profit as compared to RUB 23.8 bn loss in 1H’2009 ■ Substantial contribution from Retail and Investment Banking – 1H’2010 pre-tax profit of RUB 11.1 bn and RUB 9.7 bn, resp
Slide 4: 1H'2010 Financial Highlights
1H’2010 Financial Highlights (in RUB bn) 1H'10 1H'09 y-o-y 2Q'10 1Q'10 q-o-q Net interest income before provisions 86.4 70.3 22.9% 44.4 42.0 5.7% Net fee and commission income 11.8 9.7 21.6% 6.7 5.1 31.4% Net result from financial instruments 2.8 (14.5) n/a (5.6) 8.4 n/a Operating income before prov
Slide 5: Business Update
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Slide 6: Corporate Banking: Continued Focus on Profitable Growth
Corporate Banking: Continued Focus on Profitable Growth Corporate Corporate Loans Loans (Gross) (Gross) Financial Financial Highlights Highlights (1) (1) 12.7% 13.0% 12.8% (in RUB bn) 1H’10 1H’09 y-o-y 13% Net interest income 57.0 46.6 22.3% 2,263 2,121 2,374 Net fee and commission income 5.1 5.6 (8
Slide 7: Retail Banking: Strong Fee and Commission Growth
Retail Banking: Strong Fee and Commission Growth Loans Loans to to Individuals Individuals (Gross) (Gross) Financial Financial Highlights Highlights (1) (1) 10.2% 10.7% 8.8% (in RUB bn) 1H’10 1H’09 y-o-y 2% Net interest income 25.5 20.6 23.8% 435 419 442 Net fee and commission income 4.5 2.9 55.2% 3
Slide 8: Investment Banking: Profitable Despite Market Volatility
Investment Banking: Profitable Despite Market Volatility Global Global Banking Banking Financial Financial highlights highlights (1) (1) Russian Eurobond DCM Domestic DCM (in RUB bn) 1H’10 1H’09 y-o-y Amount No. of # of Lead Amount, # of # Lead manager RUR m issues clients # Manager USD mln issues S
Slide 9: Financial Update
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Slide 10: Double-Digit Operating Income Growth Driven by Strong Margin
Double-Digit Operating Income Growth Driven by Strong Margin Operating Income before Operating Income before Provisions Provisions, y-o-y 43.2 50.6 45.4 58.1 47.3 +12.4 28.0 0.6 8.4 105.4 1.8 93.8 15.9 12.4 6.3 2.6 6.7 2.8 4.4 0.6 5.1 11.8 5.4 5.0 28.3 4.3 9.7 +22% (RUB bn) (RUB bn) 44.8 42.0 44.4 8
Slide 11: Costs Remain Under Control
Costs Remain Under Control Staff and Administrative Expenses Staff and Adm. Expenses, y-o-y 60.0% +23.0% 52.6% 38.1% 41.7% 45.9% 39.6% 36.8% 38.2% 43.9 35.7 23.9 22.2 18.6 21.7 20.1 17.1 16.8 +31% 15.4 (RUB bn) (RUB bn) 12.7 9.2 10.9 7.3 8.1 8.0 +17% 23.8 9.8 10.5 11.2 (2) 13.0 10.8 20.3 8.8 (2) 1Q'
Slide 12: Cost of Risk – Declining Trend Continues
Cost of Risk – Declining Trend Continues Quarterly P&L Provision Charge Provision Charge, y-o-y 7.1% 6.6% -71.8% 4.3% 4.3% 6.9% 49.2 47.4 2.5% 96.6 (RUB bn) 29.8 28.3 1.7% 2.1% (RUB bn) 15.5 27.2 11.7 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10 1H'09 1H'10 Provision charge / Average gross loan portfolio (in
Slide 13: Improved Balance Sheet Structure and Strong Capital Base
Improved Balance Sheet Structure and Strong Capital Base Assets Structure Liabilities Structure 0.5% -0.1% 3,697 3,611 3,628 3,362 Cash and 3,305 Due to banks 12% 8% 5% 3,106 3,104 9% mandatory and other 6% 2,842 7% 11% reserves borrowed funds(3) 10% 7% 8% 10% Securities 24% 19% 8% 37% 17% Customer
Slide 14: Appendix
Appendix 14 © VTB 2010
Slide 15: VTB Group public debt instruments
VTB Group public debt instruments VTB Group Public Debt Instruments Outstanding VTB Group Debt Maturity Profile (1) Equivalent Maturity Borrower amount Instrument Date/Put or Coupon 2,786 (US$, mln)(1) Call Option 2010 2,343 Series 3 RUB EMTN 2 November 2,100 VTB 974 8.75% (put option) 2010 US$ mill
Slide 16: VTB Group public debt instruments issued in 2010 overview
VTB Group public debt instruments issued in 2010 overview Borrower Date of issue Amount (million) Instrument Maturity date Coupon VTB March 2010 USD 1,250 Series 7 EMTN 2 March 2015 6.465% RUB 5,000 Domestic Stock VTB March 2010 RUB 5,000 March 2013 7.6% Exchange Bonds RUB 10,000 VTB August 2010 SGD