In the first quarter of 2012, the Bank Home Credit continued successful implementation of the strategy of universal retail bank, which resulted in the optimization of the product line, expanding the possibilities for remote maintenance and development of a network of banking offices in various formats. As a result, the Bank Home Credit was able to significantly increase its loan and deposit portfolios.
"Today, our efforts are focused on enhancing customer service. This requires a significant investment in the development of IT infrastructure, expansion of branch network, the introduction of high-tech services. I am pleased to note how far we've come in our way - today, our customers banking services are available in over 2,000 towns across Russia, 24 hours a day, 7 days a week. A high demand for our products from customers confirms the correctness of the chosen strategy. We are a leading private bank in the market of unsecured loans. Our business is growing rapidly, resulting in the continuing growth of its loan portfolio. In the first quarter, it rose by 7.3%, which exceeds the rate of growth of the market. We plan to further increase the volume of our business and we are sure that you select the right strategy to achieve the goals. "
Ivan Svitek,
Chairman of the Board HCFB
KEY FACTS
- HCFB continues to hold positions in the traditional sectors and to strengthen them in the segment of loans in cash: # 1 in the market of POS-loans with a share of 22.8%, # 6 on the credit market with a share in cash 2.4%, # 8 on the credit card market with a share of 3.4%.
- The net loan portfolio increased in the first quarter by 7.3% to 121.1 billion rubles.
- Volume of deposits and current accounts for the quarter grew by 33.7% to 94.0 billion rubles (65.6% of the bank's liabilities).
- Growth in loans and deposits was achieved successful marketing policy and infrastructure sales channels, which consists of 1430 offices in various formats, and more than 59,000 retail outlets and more than 1200 post offices in Russia.
- The bank's customer base reached 22.8 million people, 3.6 million of whom are active clients.
- Net income of the Bank on March 31, 2012 totaled 2.4 billion rubles., Which is 24.3% lower than the net profit for the corresponding period last year, due to active investment in expanding the network of offices, the IT infrastructure and improving customer service.
- Operating income HCFB for the first quarter totaled 10.0 billion rubles, or 33.1% higher than in the first quarter of 2011.
- The level of arrears (NPL) is kept at a stable low level. The share of overdue loans (over 90 days) was 6.0% of the total loan portfolio (5.8% as of December 31, 2011).
- The level of bank capital adequacy remains high. Indicators of CAR and Tier 1 as of March 31, 2012 amounted to 17.7% (at the end of 2011 - 20.5%).
- The rating agency Fitch Ratings has placed the long-term Issuer Default Ratings (IDR) "BB-" bank "Home Credit and Finance Bank" under the supervision of the list Rating Watch "positive".
RESULTS
Despite the moderating influence of seasonal factors, traditional for the first quarter of the year, the volume of loans granted grew at an accelerated pace. Growth of loan portfolio in January-March 2012 was 7.3%, while in the banking system, retail loan portfolio grew by about 6.3%. In absolute terms, the value of its loan portfolio amounted to 121.1 billion rubles against 112.8 billion rubles at the end of 2011.
The main driver of growth in the loan portfolio were HCFB cash loans. Since the early years of their portfolio increased by 20.8% to 62.7 billion rubles ($ 51.9 billion at the end of 2011), as compared with sales in the corresponding period of last year - three times.
Portfolio of POS credits in the first quarter decreased by 5.9% relative to the end of 2011, due to seasonal factors. The volume of credit card transactions over the same period last year rose by almost a factor of 3.
Thus, on March 31, 2012 the credit portfolio had the following structure:
- The share of cash loans - 51.8% (62.7 billion rubles.)
- The share of POS-loans - 32.0% (38.8 billion rubles.)
- The share of credit cards - 12.5% (15.2 billion rubles.)
- Mortgages, car loans and corporate loans - 3.7% (4.4 billion rubles.).
Thanks to a balanced product line, a broad network of sales and a successful marketing strategy Home Credit Bank showed the highest increase in the loan portfolio in cash, reaching six places in this segment of the c fraction of 2.4.
Occupying a 22.8% market HCFB remains the leader in POS-lending segment. With its traditionally strong position in the credit markets purchases of electronics and home appliances, the bank has a policy of diversification of industry segments, developing cooperation with partners who specialize in selling furniture, building materials, clothing, auto parts. The combined share of these segments is nearly 30%.
HCFB remains one of the leaders of the credit card market, taking 8th place with a share of 3.4% 1, the Bank appreciates the prospects of this segment in terms of future growth.
In 2011, the deposits were the main source of funding for the bank. In the first quarter of 2012 continued the trend. Quarterly growth rate of 33.7%. The volume of deposits and current accounts (94.0 billion) reached 65.6% of the bank's liabilities. Due to the dynamic growth of the deposit base in February prepaid bank syndicated loan worth the equivalent of 200 million dollars.
In 2012 HCFB continued active development of complex sales channels and remote maintenance. On March 31, 2012 the bank's distribution network consisted of 1,430 offices in various formats, and more than 59,000 retail outlets, more than 1200 post offices in Russia, 803 ATMs and terminals. Home Credit Bank continues to focus on improving customer satisfaction and service quality, actively investing in the improvement of IT systems and high-tech services such as Internet banking, mobile banking and phone banking. In the first quarter of 2012 the bank issued a mobile application for the iPhone and the iPad, and also gave customers the opportunity to access their accounts and carry out active operations on the telephone contact center using the technology TPIN.
Due to strong growth in sales of banking products customer base of Home Credit Bank reached 22.6 million people, an increase of 400,000 customers during the first three months of 2012. This provides a deeper understanding of the bank market and opens opportunities for cross-selling bank products.
FINANCIAL RESULTS
The impressive results of the bank in the first quarter of 2012, including such achievements as:
- The growth of loan portfolio by 7.3% since the beginning of 2012;
- Further development of the network, which makes HCFB one of the largest retail banks in Russia;
- And numerous development and improvement of products and services
HCFB closer to the main goal - to become the best retail bank in Russia. As a result of these achievements, the bank's operating income for the first quarter totaled 10.0 billion rubles, or 33.1% higher than in the first quarter of 2011 (7.5 billion rubles in 1Q. In 2011).
Significant investment in business development resulted in an increase in operating expenses by 64.2% compared to Q1 2011, as the number of offices and staff have increased over the same period last year, 4.6 times and 1.5 times respectively. Nevertheless, the bank continues to effectively implement the policy of managing operational costs while maintaining a comfortable balance of expenditure to income ratio at 38.4% (in the first quarter of 2011 - 31.1% at the end of 2011 - 38.8%). Strict cost control has always been one of the key priorities of the Bank and HCFB will adhere to this policy in the future.
As a result of significant investment and traditionally conservative approach to provisioning, the Bank's net profit in the first quarter of 2012 totaled 2.4 billion rubles., Which is 24.3% lower than the net profit for the corresponding period last year. However, we continue to maintain a high level of net interest margin (19.7%), and levels of return on equity (ROAE - 5,8%) and return on assets (ROAE - 31,4%), which makes the Bank one of the best in the industry these indicators.
The level of bank capital adequacy still remains high. Capital adequacy ratio as at March 31, 2012 was 17.8% (at the end of 2011 - 20.5%). Its decline is due to dividend payment of $ 2.8 billion, which was announced in March, and she paid was held in April. In the medium term, we plan to maintain capital adequacy at a level above 15.0%.
May 23, 2012 The international rating agency Fitch issued a press release that the long-term issuer default rating (IDR) "BB-" "Home Credit and Finance Bank" has been listed on Rating Watch "positive". Adding to the list for review reflects the opinion of the agency that rates the creditworthiness of the bank guarantee higher ranking than he has now. Rating of the bank, according to the agency, it may be upgraded by one notch. However, before a final decision, said Fitch, the agency will complete an analysis of the group PPF, kontroliyuschey the Bank, to assess the benefits and risks of the Bank arising from intra interaction is also placed on the list ranking the stability of the bank "bb-", the agency said in a statement. Support rating: affirmed at "5", a short-term foreign currency IDR - at the level of "B".
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