Rosselkhozbank reduced IFRS net profit by 4.4 times
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Rosselkhozbank, the main bank for the agro-industrial complex, in 2022 reduced its net profit under IFRS by 4.4 times, to 5 billion rubles. This follows from the published financial statements of the credit institution. According to RAS, the bank also earned RUB 5 billion last year, but this result is 1.4 times higher than in 2021.
According to Kirill Levin, First Deputy Chairman of the Board of the RSHB, the bank can end the first quarter of 2023 with a profit comparable to the profit of the entire year.
According to the IFRS report, the bank’s corporate portfolio grew by 15% over the year, to RUB 2.8 trillion, while the retail portfolio shrank by 4%, to RUB 0.59 trillion. In the retail sector, consumer and other lending was declining (a drop of 17.5%), while the volume of the mortgage portfolio showed an increase of 3.4%, to 0.4 trillion rubles. Mr. Levin called the results in terms of attracting individuals (the balance reached 1.66 trillion rubles) “the bank’s historical maximum.”
The bank’s assets at the beginning of 2023 amounted to 4.26 trillion rubles, liabilities – 3.97 trillion rubles. The volume of blocked assets is intangible, Mr. Levin noted. According to him, at the beginning of 2022, the bank transferred all the papers to NSD, there was nothing left in Euroclear. In total, about 1 billion rubles are blocked, of which 486 million rubles are funds blocked in foreign banks.
The bank’s net interest income fell by 16.8% to RUB 82.4 billion. However, the cost of credit losses of the bank doubled: from 20.6 billion rubles. in 2021 to 42 billion rubles. at the end of 2022. As a result, net interest income excluding credit loss costs decreased from RUB 78.4 billion to RUB 40.3 billion. Net fee and commission income decreased by 12% to RUB 25.7 billion. The largest amount was received from commissions for settlement and cash transactions – 10.7 billion rubles.
Of the systemically important banks, only Promsvyazbank has not yet disclosed results for 2023. Sberbank earned 270.5 billion rubles under IFRS. (a decrease of 4.6 times), VTB received a record loss – 613 billion rubles. At the same time, Alfa-Bank recorded a record loss under RAS (more than 117 billion rubles), while Gazprombank showed a 10.5-fold drop in profit. The second (after Sberbank) result under RAS was shown by Raiffeisenbank: its profit grew 3.6 times, to 141 billion rubles.
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