The Bank’s equity amounted to RUB 10.4 billion in 2013, up 24% year-on-year. Due to internal capital generation and RUB 500 million capital injection in February 2013 the Bank maintained high level of capital adequacy ratio: total CAR at 17.3% and tier 1 CAR at 16.8% under Basel Capital Accord.
Total Assets grew by 11% reaching RUB 79.7 billion in 2013. The Bank ranked 70th among largest Russian banks by net assets according to Kommersant.ru in 2013, improving its positions up 5 notches since end 2012.
Net income increased by 17% versus 2012 to RUB 1.5 billion, and ROAE was 16.1% in 2013.
Net interest income rose by 29% compared to 2012 and reached RUB 4.2 billion. Net interest margin was 5.9% in 2013, increased by 60 bps versus 2012.
Operating income totaled to RUB 5.5 billion in 2013, a 21% increase compared to 2012, it was mainly driven by net interest income fast growth. Additionally, Net fee and commission income demonstrated positive dynamic, up 19% year-on-year.
Gross loan portfolio reached RUB 50.8 billion in 2013, growing by 12% from the end of 2012. SME loans totaled to RUB 32.7 billion, amounted to 64% of total loan portfolio. Retail portfolio was RUB 18.1 billion, up 32% compared to 2012, keeping trends of expanding its share in total loan portfolio composition. Thus, loans to individuals amounted to 36% of total loan portfolio in 2013 versus 30% in 2012. Net loans comprised 61% of total assets in 2013. NPL ratio (90+ days overdue) was 3.6%, LLR coverage ratio was 134%, and cost of risk was 2.2% of average gross loans in 2013.
Securities portfolio amounted to RUB 19.7 billion in 2013 versus RUB 14.3 billion in 2012, increasing by 38% at the end of 2013. Securities portfolio of the Bank included 72% of high-rated fixed income securities (BBB- to A+) in 2013.
Total liabilities reached RUB 69.3 billion in 2013, up 10% compared to 2012. Growing trend was supported by an increase in current accounts and deposits from customers by 6% (RUB 36.7 billion), deposits and balances from banks and other financial institutions by 14% (RUB 11.6 billion), amounts payable under repurchase agreements by 52% (RUB 10.8 billion).
Operating expenses totaled to RUB 3.6 billion in 2013, increasing by 24% from the end of 2012. The Bank continued to maintain a good level of cost efficiency. Thus, Cost to Income Ratio amounted to 45.3% versus 50.3% in 2012, declining by 500 bps in 2013.
At the end of 2013 the Bank’s branch network comprised 62 outlets, operating actively in 21 key economic regions of Russia. The Bank expanded its presence due to opening 7 new outlets in 2013.
Pavel Voznesensky, Deputy Chairman of the Executive Board, commented:
“Notwithstanding volatile market situation in 4Q 2013, LOCKO-Bank demonstrated positive dynamic of key figures, maintaining efficiency ratios and loan portfolio quality at a good level in 2013. The Bank continued to develop its SME and retail business, expanding its deposit base and providing high-marginal products successfully. This has made it possible to retain leading market positions in car loans and SME lending”.