Rus News Journal

VTB 24 has got status profit

Following the results of the first half of the year business VTB 24 has shown high profitableness - the pure percentage margin of bank has made 7,8 %. It above, than at the Savings Bank. Experts explain results VTB 24 person business - model: the State Bank status allows retail to a daughter VTB to involve cheap means, but, unlike the Savings Bank having the big corporate business, these means VTB 24 places in more profitable retail segment.
VTB 24 following the results of the first half of the year 2010 has received net profit 8,62 mlrd rbl. against 1,5 mlrd loss rbl. for the similar period of last year, the president of bank Michael Zadornov has informed yesterday. Profit VTB under the Russian reporting for the first half of the year has made 27,2 mlrd rbl., the Savings Bank will publish the Russian reporting today, however following the results of the first quarter he has earned 43 mlrd rbl. In first quarter VTB 24 was the third on volume have arrived after the Savings Bank and VTB.

Retail credit portfolio VTB 24 for a half-year has grown on 7 %, to 420,5 mlrd the Share in the market of crediting of physical persons (taking into account the repayment of another`s credits and sekjuritizatsii) for June, 1st has reached rbl. of 11,26 %, having increased from the beginning of year by 0,47 percentage points. Analytical agency Frank Research Group confirms this dynamics, though share VTB 24, by agency estimations, more modestly. share VTB 24 in retail crediting has increased by the end of the first quarter with 10,1 to 10,4 % - operating partner Frank Research Group Yury Gribanov speaks. By its estimations, the Savings Bank share, on the contrary, was reduced - with 30,9 to 30,7 %.

Thus VTB 24 actively increases volume of contributions of the population - from the beginning of year the rests on accounts of physical persons have increased by 16,3 %, having exceeded 500 mlrd rbl. And only for June growth of deposits has made 5 %, or 25 mlrd rbl. for one month we do not remember for a long time Such increase, - Michael Zadornov has noted. - Such usually happens only for December . Under plans VTB 24 retail credit portfolio on the end of the year should grow on 15 - 20 %, and population deposits - on 30 - 33 %. In the Savings Bank the gain of deposits also overtakes growth of a credit portfolio, the trustee of the Savings Bank Alexander Morozov confirms. in a sharp phase of crisis deposits grew essentially faster, and crediting growth has renewed more recently - Yury Gribanov speaks.

Despite decrease in rates under credits which from the beginning of year occurs on all market, VTB 24 shows growth of a pure percentage margin. On the end of May the bank margin on MSFO has made 7,8 % that above, than on the average in 2009 (7,5 %).

At classical ritejlovyh banks a margin above, than at retail daughters VTB, - the analyst " marks; Uralsiba Dmitry Dudkin. - So, following the results of the first quarter the pure percentage margin, for example, HKF bank has made 27 %, the Russian standard - 16 % . But and quality of a portfolio at private ritejlovyh essentially is worse than banks - delay makes 10 - 12 % from a portfolio, mister Dudkin marks. At VTB 24 level of the delayed debts in the first half of the year has grown with 4,5 to 6 % from a credit portfolio (on RSBU). On model of business VTB 24 to compare to the universal banks having strong retail more pertinently, mister Dudkin believes. Against these banks VTB 24 with a margin of 7,8 % looks more profitable - for example, the pure percentage margin of the Savings Bank for the first quarter 2010 has made 7,3 %, bank MDM - 6,6 %.

For the sake of preservation of margin VTB 24 continues to increase a share of highly remunerative products in the portfolio. So, for half a year the share of credits cash in structure of a retail portfolio has grown on 2,3 % - to 41,6 %, a share of credit cards on 0,4 % - to 5,7 %, and the share of less profitable mortgage was reduced almost to 3 % - to 41,1 %. VTB 24 possesses enough effective model of business, - the main expert " ascertains; Interfax - TSEA Alexey Buzdalin. - This results from the fact that the State Bank status allows VTB 24 to involve cheap fondirovanie, thus, unlike the Savings Bank having the big corporate business, VTB 24 works in more profitable retail segment . We will remind, at the Savings Bank retail credits make about 15 % from actives, and at VTB 24 - more than 45 %.