MAINTAINING SUSTAINABLE GROWTH: ROSBANK GROUP FINANCIAL RESULTS FOR 9 MONTHS 2021 ACCORDING TO IFRS

    25 November
Илья Поляков

Rosbank CEO

In the first 9 months of 2021 Rosbank Group continued to maintain strong positions on the market and once again demonstrated positive results, both from a financial standpoint and in terms of socially-oriented projects, which are key priorities in Rosbank’s strategy. Net profit of Rosbank Group after tax increased to RUB 15 bln, by 73%1 compared to 9 months of 2020.

On our recent federal press-conference, we have presented a new strategic roadmap for 2021-2025. We defined the strategy around Rosbank’s ultimate ambition to become the best International bank in Russia for our clients, employees and society by 2025. We named it “Sustainable growth”, in line with the purpose of Societe Generale, which is: Building together with our clients a better and sustainable future through responsible and innovative financial solutions.

Our roadmap is designed to capture growth in all our client segments and will deliver strong and sustainable financial performance for the benefit of all our stakeholders

In 9 months of 2021 Rosbank Group demonstrated growth in all major business lines. Corporate segment keeps strengthening its positions: portfolio of loan to legal entities demonstrated great performance in Q3 2021 with 17% increase from the beginning of the year and exceeded RUB 340 bln. At the same time, liabilities portfolio of legal entities increased by 11% compared to the end of 2020 and exceeded RUB 650 bln.

In retail segment, Rosbank continued to maintain leadership positions and remained the largest international bank in terms of retail loan portfolio, which increased by 7% (to RUB 576 bln) since the beginning of the year. Rosbank keeps its leading positions in secured lending: 2nd place in car lending portfolio with more than 10% market share, and 2nd place among private banks in mortgage portfolio. Retail liabilities demonstrated positive trend increasing by 4% in Q3 2021 compared to the previous quarter.

Net interest income and net commission income for 9 months of 2021 showed stable growth – by 2% and 11% respectively compared to the same period of 2020, though net result from financial transactions decreased, which negatively impacted operating income. Cost of risk continued to decrease (-79% till RUB 2.6 bln) amid continuing restoration of Russian economy.

We aim to provide high quality service for our clients in all segments, and our achievements are recognized by the market expert community with a number of awards in both the retail and corporate segments. Rosbank’s L’Hermitage Private Banking was included by Forbes to TOP-15 best Russian banks for millionaires in 2021 at 7th place.

In Q3’2021, Rosbank as a part of Societe Generale received numerous awards in various corporate and investment banking services: Rosbank was recognized as the best transactional bank in Europe and CEE for financial institutions for the second year in a row in 2021 (according to EMEA Finance journal), acknowledged as the best custodian bank for international clients in Russia in 2021 (according to Global Investor’s research “Sub-Custody Guide 2021”). Societe Generale also maintained its TOP-10 positions as syndicated loans and eurobonds organizator in Russia (by volume, according to CBonds).

Digitalization is one of the Rosbank’s key strategic dimension and we aim to continue making our products more accessible and convenient for customers. In August 2021 Rosbank became a laureate of FINAWARD’21 in the nominations “Innovations in information security or anti-fraud service” (for the first project in Russia for implementation of the Prisma Cloud – the platform to secure infrastructure and applications) and “Financial product” (for our debit card for shopping, developed together with Mastercard), and also was awarded "For contribution to the development of innovative technologies and implementation of corporate lending transformation project".

Sustainable development is another key strategic priority of Rosbank. The Bank took part in the project “Green and healthy office – 2021” and was recognized as “The most environment friendly company”. Rosbank together with the Apothecaries' Garden launched the company “Renature. Bringing the nature to the city” aimed to improve urban ecology in Moscow. These and other Rosbank’s initiatives in sustainable development help us to remain one of the ESG leaders and to maintain the 4th place among Russian banks in EGG Ranking of Russian companies by RAEX Europe.

Rosbank remains one of the most reliable banks in the country, which is confirmed by its highest available credit ratings on par with sovereign rating of the Russian Federation provided by four rating agencies (ACRA, Expert RA, Moody’s, Fitch).

Key indicators of Statement of Financial position

Key indicators of Statement of Profit and Loss


1 Growth excluding effect of FX revaluation of open currency position. Net profit after tax including FX revaluation effect showed 16% growth YoY

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