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06.04.2016 09:10:46
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DGAP-News: Bank Vozrozhdenie
DGAP-News: Vozrozhdenie Bank: FY 2015 IFRS results
06.04.2016 / 09:10 The issuer is solely responsible for the content of this announcement.
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Today V.Bank has published its IFRS report for FY 2015 audited by PricewaterhouseCoopers.
For Vozrozhdenie Bank 2015 was full of significant events and became a new milestone - new major shareholders, joining a banking group of Promsvyaz Capital B.V. with three other banks, building a new management team.
"Notwithstanding the net loss reasoned by heavy provisioning in the corporate business line, it's noteworthy that we visibly improved a number of our KPIs. Operating profit before provisions added 17% thanks to the widened net interest margin and a strong trade income - the bank took full advantage of the financial markets volatility. Moreover, for the first time since 2009 we managed to decrease our expenses in absolute terms due to our efforts on cost optimisation. We expect further progress in cost efficiency on the back of the synergy with the group in terms of the back-office functions and IT centralisation, as well as development of product offers in transaction banking," -commented Konstantin Basmanov, Chairman of the Management Board at V.Bank.
Key performance indicators:
- Net interest margin for 2015 improved by 8 bps YoY to 4.7%
- Operating profit before provisions reached RUB 5.9 billion for the reporting period, 17.2% up YoY
- Net loss for 2015 was RUB 3.8 billion versus RUB 1.2 billion of net profit for 2014. In Q4 2015 net loss was down by 36.8% to RUB 1.2 billion compared to the prior quarter.
- Assets totalled RUB 223.9 billion as of January 1, 2016, 1.8% down over the year
- Loan portfolio added 1.9% over the reporting period
- Client funds decreased by 2.6% over the reporting period to RUB 169.7 billion
- Total capital as per Basel III was 6.8% up YoY to RUB 28.0 billion
As of January 1, 2016 the bank's assets edged down by 1.8% YoY to RUB 223.9 billion due to a contraction of liquid assets. The share of liquid assets moderated by 3.8 pps over the year to 21.1% as a result of a reduction in cash and equivalents (-12.2%) and securities portfolio (-22.4%) comprising together a liquidity cushion accumulated by the bank to get through the extremely volatile end of 2014. Net loan book added 1.1% over the same period. Thereat, the share of interest-earning assets grew by 1.0 pps since January 1, 2015 to 79.5%.
9.7% annual growth in other assets to RUB 14.6 billion was reasoned by the revaluation of premises and equipment held in Q4 2015 that brought their fair value up by RUB 2.2 billion.
Balance sheet expansion in Q4 2015 was driven by a recovery of net loan book by 9.1% to RUB 157.5 billion amid revival of the credit markets in the year-end. Loan-to-deposit ratio raised by 2.8 pps during the last quarter to 102% on the back of outpacing lending growth, though remained within the comfortable range.
In 2015 the bank's securities portfolio diminished by 22.4% YoY to RUB 17.1 billion. In December 2014 the bank seized the opportunity to buy short-term low-risk liquid instruments in the declining debt market and further sold them during H1 2015 to earn additional trade income.
In Q4 2015 securities portfolio was 11.2% up largely on the back of acquisition of corporate Eurobonds and the Russian Federation Eurobonds.
In 2015 loan portfolio before provisions added 1.9% and was RUB 173.4 billion as of January 1, 2016 due to retail book expansion to RUB 52.7 billion (+14.0% YoY). During 9M 2015 the corporate loans were declining amid stagnation in the real sector of the economy and diminishing creditworthiness of potential borrowers. Meanwhile, in Q4 2015 the loans to companies grew to RUB 120.7 billion (+11.5% QoQ) fueled by some business activity arising in the market as well as by some new interesting large corporate borrowers coming to the bank. Thus, the large corporates' book surged by 25.2% to RUB 47.9 billion. Loans to SMEs remained intact at RUB 62.2 billion since Q3 2015. The bank widened lending to traditionally more reliable segment of local administrations and municipalities as well - that book added as much as 34.8% to RUB 10.6 billion with 8.8% share in the total corporate portfolio.
Better lending terms on mortgages and consumer loans and the launch of the state-supported mortgage programme contributed to a recovery of retail loans throughout 2015. The bank's portfolio of loans to individuals added 14.0% over the last year on the back of mortgages widening by 12.8% (+6.0% QoQ) to RUB 35.9 billion and 20.5% growth in consumer loans (+3.5% QoQ) to RUB 14.6 billion. Bank card loans stayed at the level of the year-start and equaled to RUB 2.0 billion. As of January 1, 2016 mortgages comprised the major part of retail loans (68.2%).
NPLs accounted for 11.5% of the total loan book as of January 1, 2016, adding 1.48 pps since the year-start amid the adverse trends in the real sector of the economy and borrowers' thinner paying capacity. Non-performing loans grew by 17% over the year and totaled RUB 20.0 billion as of the reporting date. SME NPLs increased by RUB 3.9 billion while large corporate NPLs diminished by RUB 1.8 billion during 2015. Throughout the year retail NPLs dissipated by 18.1% to RUB 2.5 billion. 90 days+ overdue loans amounted to RUB 14.1 billion or 8.1% of the total loan book (as of January 1, 2015 it was RUB 12.5 billion or 7.4% of the book).
The share of retail non-performing loans grew by 0.8 pps over the year to 4.7%, though in the fourth quarter NPLs volume decreased by 18.1% to RUB 2.5 billion thanks to a better borrowers' payment discipline. 90 days + overdue loans were RUB 1.3 billion or 2.5% of the retail loan portfolio as of January 1, 2016.
In Q4 2015 cost of risk reduced by 328 bps to 5.1% and the annual figure was equal to 5.7%, exceeding the level of 2014 by 381 bps.
Total provisions grew by 10.3% YoY to RUB 15.9 billion as of January 1, 2016. In total, RUB 9.5 billion were charged to loan loss provisions over the year versus RUB 3.2 billion made during 2014. Most of the provisions (92%) were related to corporate borrowers. NPLs coverage ratio decreased over the same period as follows: one day+ NPLs coverage ratio was 79.8% as of January 1, 2016 (-4.8 pps YoY) and 90+ NPLs coverage ratio was 112.9% (-2.5 pps YoY).
A spike in non-core assets provisioning in Q4 2015 was a one-off reasoned by an overall revaluation of non-core assets portfolio.
In Q4 2015 due to other banks grew by 91.2% to RUB 19.8 billion (RUB 19.1 billion as of January 1, 2015). The bank raised RUB 9.5 billion under REPO transactions with the Bank of Russia, pledging RUB 4.7 billion of debt securities and RUB 5.2 billion of the OFZ bonds previously attracted under the state re-capitalisation programme.
Client funds decreased by 2.6% YoY to RUB 169.7 billion, largely due to corporate deposits' and current accounts' continuing negative dynamics (-27.5% and -9.6%, respectively) amid tough price competition in the segment.
Retail deposits grew over the year by 4.1% to RUB 109.0 billion (+7.8% QoQ, fully offsetting the one-off outflow of VIP FX deposits in August, 2015). In 2015 significant amounts of individuals' funds were attracted for short terms - up to a year. The bank intentionally did not promote longer-term deposits in expectation of rates moderation which fell to the year-end. Deposits with maturities over 12 months were up 67.6% QoQ. In Q4 2015 funds raised for terms less than six months also saw positive dynamics (+15.2%), as a range of short-term deposits expired in the year-end.
Card accounts balances jumped by 24.8% in Q4 2015 to RUB 18.2 billion due to a seasonal growth in credit turnovers on payroll accounts.
The share of current accounts in customer funds was equal to 26.1% as of January 1, 2016.
The bank's equity declined by 6.7% over the reporting period to RUB 22.2 billion. The decrease was driven by a loss absorbed in 2015 and was partially offset by RUB 1.9 billion of premises and equipment positive revaluation. As per Basel III standards, the total capital improved by 6.8% YoY to RUB 28.0 due to Tier II capital replenishment with RUB 6.6 billion which were raised under the re-capitalisation programme of the State Deposit Insurance Agency.
Total regulatory capital adequacy ratio (N1.0 norm) improved to 13.0% as of January 1, 2016, while the minimum acceptable level is set at 10%. Common equity Tier 1 capital adequacy (N1.1 norm) was down to 8.3%, while the minimum acceptable level is set at 5%.
In 2015 the bank's net interest income grew by 2.8% YoY to RUB 10.1 billion on the back of the active repricing of corporate loans, retail book widening and trade income growth, which together led interest income 17.2% up to RUB 23.7 billion. Meanwhile interest income for the quarter declined by 3.1% to RUB 5.8 billion reflecting lower rates on corporate loans granted during the second half of the year and the fact that the loan portfolio growth came just before the year-end.
Positive annual dynamics of interest income compensated 30.6% jump in interest expense over 2015 caused by funding rates escalation that happened late 2014 after the key rate raise. Retail deposit rates gradually moderated during 2015. In Q4 2015 interest expense grew by 1.7% to RUB 3.4 billion under the influence of the deposit base recovery after a one-off outflow in August 2015.
Throughout 9M 2015 the bank succeeded to enhance net interest spread, offsetting moderate growth of funding costs with higher corporate loan rates. Lower yields on corporate loans and securities amid fading market volatility, led Q4 2015 spread 98 bps down to the year-start level with the annual figure stood at 6.95% that was 63 bps higher than a year ago.
Net interest margin grew by 8 bps over 2015 to 4.66%, exceeding 4.5% target level.
In 2015 net fees and commissions decreased by 4.0% versus 2014 to RUB 3.8 billion due to 3.2% decline in commission income to RUB 4.6 billion and widening of commission expense by 1.2% to RUB 0.8 billion over the same period. The lower level of net commission income was reasoned by sliding income from cash and bank cards operations (-RUB 121 million and -RUB 117 million, respectively) amid tough competition in the segment, while commissions from settlement transactions added RUB 73 million.
Fee and commission income saw positive quarterly dynamics after the trough in Q1 2015 largely as a result of efforts on launch and promotion of new settlement products and totalled RUB 989 million for Q4 2015, up 2.0% QoQ.
Throughout 2015 the share of net fees & commissions in the operating income before provisions lost 2.2 pps and stood at 25.3% as at the year-end.
In 2015 total non-interest income grew by 8.1% YoY to RUB 5.0 billion resulting from trade income enhancement almost three-fold amid volatile financial markets. The share of non-interest income in the gross operating income structure was 33.0% in 2015.
For the first time since 2009 the bank managed to cut operating expenses in absolute terms by 2.3% over the year to RUB 9.1 billion that was mainly a result of a 10.5% decrease in the average staff headcount. In Q4 2015 personnel expense declined by 26.6% to RUB 1.0 billion.
Additional factors that helped the bank to slash operating expenses were a reduction of administration expenses by 3.5%, taxes (excluding profit tax) - by 4.6% and rent expense - by 1.1%. Other expenses grew in Q4 2015 due to RUB 97.1 million of costs on non-core assets maintenance that were incurred during 2015 and recorded in the year-end.
Cost-to-income ratio for 2015 moderated by 425 bps to 60.9% YoY, though on a quarterly basis it added 136 bps to 62.5% as a result of a decrease in operating income.
Positive dynamics of interest and trade incomes coupled with cut of operating expenses contributed to a rise in operating profit before provisions that reached RUB 5.9 billion in 2015 (+17.2% YoY), though huge amounts of provisions charged throughout the reporting period led to RUB 3.8 billion of net loss for the year comparing to RUB 1.2 billion of net profit for 2014.
Income tax revenue was RUB 954 million versus RUB 289 million of income tax expense in 2014 owing to the recognition of the deferred tax asset for 2015 that amounted to RUB 916 million with regard to the tax expense that will decrease the income tax base in further reporting periods.
FY 2015 ROE was equal to -16.5%, though annual profit before provisions and tax to equity ratio improved by 4.0 pps to 25.6% over the year.
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06.04.2016 Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: Vozrozhdenie Bank 7/4 Luchnikov Pereulok, bldg. 1 101990 Moscow Russia Phone: +7 (495) 620-90-71 Fax: +7 (495) 620-19-99 E-mail: investor@voz.ru Internet: www.vbank.ru ISIN: RU0009084214 End of News EquityStory.RS, LLC News Service ---------------------------------------------------------------------------
451627 06.04.2016
EquityStory.RS, LLC-News: Vozrozhdenie Bank / Key word(s): Quarter Results/Final Results Vozrozhdenie Bank: FY 2015 IFRS results
06.04.2016 / 09:10 The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Today V.Bank has published its IFRS report for FY 2015 audited by PricewaterhouseCoopers.
For Vozrozhdenie Bank 2015 was full of significant events and became a new milestone - new major shareholders, joining a banking group of Promsvyaz Capital B.V. with three other banks, building a new management team.
"Notwithstanding the net loss reasoned by heavy provisioning in the corporate business line, it's noteworthy that we visibly improved a number of our KPIs. Operating profit before provisions added 17% thanks to the widened net interest margin and a strong trade income - the bank took full advantage of the financial markets volatility. Moreover, for the first time since 2009 we managed to decrease our expenses in absolute terms due to our efforts on cost optimisation. We expect further progress in cost efficiency on the back of the synergy with the group in terms of the back-office functions and IT centralisation, as well as development of product offers in transaction banking," -commented Konstantin Basmanov, Chairman of the Management Board at V.Bank.
Key performance indicators:
- Net interest margin for 2015 improved by 8 bps YoY to 4.7%
- Operating profit before provisions reached RUB 5.9 billion for the reporting period, 17.2% up YoY
- Net loss for 2015 was RUB 3.8 billion versus RUB 1.2 billion of net profit for 2014. In Q4 2015 net loss was down by 36.8% to RUB 1.2 billion compared to the prior quarter.
- Assets totalled RUB 223.9 billion as of January 1, 2016, 1.8% down over the year
- Loan portfolio added 1.9% over the reporting period
- Client funds decreased by 2.6% over the reporting period to RUB 169.7 billion
- Total capital as per Basel III was 6.8% up YoY to RUB 28.0 billion
As of January 1, 2016 the bank's assets edged down by 1.8% YoY to RUB 223.9 billion due to a contraction of liquid assets. The share of liquid assets moderated by 3.8 pps over the year to 21.1% as a result of a reduction in cash and equivalents (-12.2%) and securities portfolio (-22.4%) comprising together a liquidity cushion accumulated by the bank to get through the extremely volatile end of 2014. Net loan book added 1.1% over the same period. Thereat, the share of interest-earning assets grew by 1.0 pps since January 1, 2015 to 79.5%.
9.7% annual growth in other assets to RUB 14.6 billion was reasoned by the revaluation of premises and equipment held in Q4 2015 that brought their fair value up by RUB 2.2 billion.
Balance sheet expansion in Q4 2015 was driven by a recovery of net loan book by 9.1% to RUB 157.5 billion amid revival of the credit markets in the year-end. Loan-to-deposit ratio raised by 2.8 pps during the last quarter to 102% on the back of outpacing lending growth, though remained within the comfortable range.
In 2015 the bank's securities portfolio diminished by 22.4% YoY to RUB 17.1 billion. In December 2014 the bank seized the opportunity to buy short-term low-risk liquid instruments in the declining debt market and further sold them during H1 2015 to earn additional trade income.
In Q4 2015 securities portfolio was 11.2% up largely on the back of acquisition of corporate Eurobonds and the Russian Federation Eurobonds.
In 2015 loan portfolio before provisions added 1.9% and was RUB 173.4 billion as of January 1, 2016 due to retail book expansion to RUB 52.7 billion (+14.0% YoY). During 9M 2015 the corporate loans were declining amid stagnation in the real sector of the economy and diminishing creditworthiness of potential borrowers. Meanwhile, in Q4 2015 the loans to companies grew to RUB 120.7 billion (+11.5% QoQ) fueled by some business activity arising in the market as well as by some new interesting large corporate borrowers coming to the bank. Thus, the large corporates' book surged by 25.2% to RUB 47.9 billion. Loans to SMEs remained intact at RUB 62.2 billion since Q3 2015. The bank widened lending to traditionally more reliable segment of local administrations and municipalities as well - that book added as much as 34.8% to RUB 10.6 billion with 8.8% share in the total corporate portfolio.
Better lending terms on mortgages and consumer loans and the launch of the state-supported mortgage programme contributed to a recovery of retail loans throughout 2015. The bank's portfolio of loans to individuals added 14.0% over the last year on the back of mortgages widening by 12.8% (+6.0% QoQ) to RUB 35.9 billion and 20.5% growth in consumer loans (+3.5% QoQ) to RUB 14.6 billion. Bank card loans stayed at the level of the year-start and equaled to RUB 2.0 billion. As of January 1, 2016 mortgages comprised the major part of retail loans (68.2%).
NPLs accounted for 11.5% of the total loan book as of January 1, 2016, adding 1.48 pps since the year-start amid the adverse trends in the real sector of the economy and borrowers' thinner paying capacity. Non-performing loans grew by 17% over the year and totaled RUB 20.0 billion as of the reporting date. SME NPLs increased by RUB 3.9 billion while large corporate NPLs diminished by RUB 1.8 billion during 2015. Throughout the year retail NPLs dissipated by 18.1% to RUB 2.5 billion. 90 days+ overdue loans amounted to RUB 14.1 billion or 8.1% of the total loan book (as of January 1, 2015 it was RUB 12.5 billion or 7.4% of the book).
The share of retail non-performing loans grew by 0.8 pps over the year to 4.7%, though in the fourth quarter NPLs volume decreased by 18.1% to RUB 2.5 billion thanks to a better borrowers' payment discipline. 90 days + overdue loans were RUB 1.3 billion or 2.5% of the retail loan portfolio as of January 1, 2016.
In Q4 2015 cost of risk reduced by 328 bps to 5.1% and the annual figure was equal to 5.7%, exceeding the level of 2014 by 381 bps.
Total provisions grew by 10.3% YoY to RUB 15.9 billion as of January 1, 2016. In total, RUB 9.5 billion were charged to loan loss provisions over the year versus RUB 3.2 billion made during 2014. Most of the provisions (92%) were related to corporate borrowers. NPLs coverage ratio decreased over the same period as follows: one day+ NPLs coverage ratio was 79.8% as of January 1, 2016 (-4.8 pps YoY) and 90+ NPLs coverage ratio was 112.9% (-2.5 pps YoY).
A spike in non-core assets provisioning in Q4 2015 was a one-off reasoned by an overall revaluation of non-core assets portfolio.
In Q4 2015 due to other banks grew by 91.2% to RUB 19.8 billion (RUB 19.1 billion as of January 1, 2015). The bank raised RUB 9.5 billion under REPO transactions with the Bank of Russia, pledging RUB 4.7 billion of debt securities and RUB 5.2 billion of the OFZ bonds previously attracted under the state re-capitalisation programme.
Client funds decreased by 2.6% YoY to RUB 169.7 billion, largely due to corporate deposits' and current accounts' continuing negative dynamics (-27.5% and -9.6%, respectively) amid tough price competition in the segment.
Retail deposits grew over the year by 4.1% to RUB 109.0 billion (+7.8% QoQ, fully offsetting the one-off outflow of VIP FX deposits in August, 2015). In 2015 significant amounts of individuals' funds were attracted for short terms - up to a year. The bank intentionally did not promote longer-term deposits in expectation of rates moderation which fell to the year-end. Deposits with maturities over 12 months were up 67.6% QoQ. In Q4 2015 funds raised for terms less than six months also saw positive dynamics (+15.2%), as a range of short-term deposits expired in the year-end.
Card accounts balances jumped by 24.8% in Q4 2015 to RUB 18.2 billion due to a seasonal growth in credit turnovers on payroll accounts.
The share of current accounts in customer funds was equal to 26.1% as of January 1, 2016.
The bank's equity declined by 6.7% over the reporting period to RUB 22.2 billion. The decrease was driven by a loss absorbed in 2015 and was partially offset by RUB 1.9 billion of premises and equipment positive revaluation. As per Basel III standards, the total capital improved by 6.8% YoY to RUB 28.0 due to Tier II capital replenishment with RUB 6.6 billion which were raised under the re-capitalisation programme of the State Deposit Insurance Agency.
Total regulatory capital adequacy ratio (N1.0 norm) improved to 13.0% as of January 1, 2016, while the minimum acceptable level is set at 10%. Common equity Tier 1 capital adequacy (N1.1 norm) was down to 8.3%, while the minimum acceptable level is set at 5%.
In 2015 the bank's net interest income grew by 2.8% YoY to RUB 10.1 billion on the back of the active repricing of corporate loans, retail book widening and trade income growth, which together led interest income 17.2% up to RUB 23.7 billion. Meanwhile interest income for the quarter declined by 3.1% to RUB 5.8 billion reflecting lower rates on corporate loans granted during the second half of the year and the fact that the loan portfolio growth came just before the year-end.
Positive annual dynamics of interest income compensated 30.6% jump in interest expense over 2015 caused by funding rates escalation that happened late 2014 after the key rate raise. Retail deposit rates gradually moderated during 2015. In Q4 2015 interest expense grew by 1.7% to RUB 3.4 billion under the influence of the deposit base recovery after a one-off outflow in August 2015.
Throughout 9M 2015 the bank succeeded to enhance net interest spread, offsetting moderate growth of funding costs with higher corporate loan rates. Lower yields on corporate loans and securities amid fading market volatility, led Q4 2015 spread 98 bps down to the year-start level with the annual figure stood at 6.95% that was 63 bps higher than a year ago.
Net interest margin grew by 8 bps over 2015 to 4.66%, exceeding 4.5% target level.
In 2015 net fees and commissions decreased by 4.0% versus 2014 to RUB 3.8 billion due to 3.2% decline in commission income to RUB 4.6 billion and widening of commission expense by 1.2% to RUB 0.8 billion over the same period. The lower level of net commission income was reasoned by sliding income from cash and bank cards operations (-RUB 121 million and -RUB 117 million, respectively) amid tough competition in the segment, while commissions from settlement transactions added RUB 73 million.
Fee and commission income saw positive quarterly dynamics after the trough in Q1 2015 largely as a result of efforts on launch and promotion of new settlement products and totalled RUB 989 million for Q4 2015, up 2.0% QoQ.
Throughout 2015 the share of net fees & commissions in the operating income before provisions lost 2.2 pps and stood at 25.3% as at the year-end.
In 2015 total non-interest income grew by 8.1% YoY to RUB 5.0 billion resulting from trade income enhancement almost three-fold amid volatile financial markets. The share of non-interest income in the gross operating income structure was 33.0% in 2015.
For the first time since 2009 the bank managed to cut operating expenses in absolute terms by 2.3% over the year to RUB 9.1 billion that was mainly a result of a 10.5% decrease in the average staff headcount. In Q4 2015 personnel expense declined by 26.6% to RUB 1.0 billion.
Additional factors that helped the bank to slash operating expenses were a reduction of administration expenses by 3.5%, taxes (excluding profit tax) - by 4.6% and rent expense - by 1.1%. Other expenses grew in Q4 2015 due to RUB 97.1 million of costs on non-core assets maintenance that were incurred during 2015 and recorded in the year-end.
Cost-to-income ratio for 2015 moderated by 425 bps to 60.9% YoY, though on a quarterly basis it added 136 bps to 62.5% as a result of a decrease in operating income.
Positive dynamics of interest and trade incomes coupled with cut of operating expenses contributed to a rise in operating profit before provisions that reached RUB 5.9 billion in 2015 (+17.2% YoY), though huge amounts of provisions charged throughout the reporting period led to RUB 3.8 billion of net loss for the year comparing to RUB 1.2 billion of net profit for 2014.
Income tax revenue was RUB 954 million versus RUB 289 million of income tax expense in 2014 owing to the recognition of the deferred tax asset for 2015 that amounted to RUB 916 million with regard to the tax expense that will decrease the income tax base in further reporting periods.
FY 2015 ROE was equal to -16.5%, though annual profit before provisions and tax to equity ratio improved by 4.0 pps to 25.6% over the year.
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06.04.2016 Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: Vozrozhdenie Bank 7/4 Luchnikov Pereulok, bldg. 1 101990 Moscow Russia Phone: +7 (495) 620-90-71 Fax: +7 (495) 620-19-99 E-mail: investor@voz.ru Internet: www.vbank.ru ISIN: RU0009084214 End of News EquityStory.RS, LLC News Service ---------------------------------------------------------------------------
451627 06.04.2016
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