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Credit Bank of Moscow 2020 Annual Report

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Credit Bank of Moscow 2020 Annual Report APPROVED by the General Shareholders’ Meeting of CREDIT BANK OF MOSCOW Minutes No. __ dated __.__.2021 CREDIT BANK OF MOSCOW 2020 ANNUAL REPORT Correctness of information was confirmed by the Audit * Pre-approved Panel of CREDIT BANK OF MOSCOW by the Supervisory Board of CREDIT BANK OF MOSCOW Minutes No. 18 dated 27.05.2021 1 TABLE OF CONTENTS MKB TODAY ........................................................................................................................................ 3 1. MKB at a Glance ........................................................................................................................ 3 2. Milestones ................................................................................................................................... 4 3. Awards and Nominations ............................................................................................................ 5 4. Key Financial Indicators ............................................................................................................. 6 5. Mission and Values ..................................................................................................................... 8 STRATEGIC REPORT ........................................................................................................................ 9 1. Address of the Chairman of the Supervisory Board ................................................................... 9 2. Address of the Chairman of the Management Board ................................................................ 11 3. Management Responsibility Statement ..................................................................................... 13 4. Economy and Banking Sector ................................................................................................... 14 5. MKB’s Business Model. Competitive Advantages. ................................................................. 20 6. Strategy ..................................................................................................................................... 26 7. Risk Management ..................................................................................................................... 32 OVERVIEW OF OPERATIONS .......................................................................................................... 51 1. Corporate Business ................................................................................................................... 51 2. Retail Business .......................................................................................................................... 62 3. Investment banking business .................................................................................................... 70 4. Information Technologies ......................................................................................................... 76 FINANCIAL RESULTS ...................................................................................................................... 79 1. Key Financial Results ............................................................................................................... 79 2. Key Results ............................................................................................................................... 81 3. Income Statement Analysis....................................................................................................... 82 4. Structure of Assets and Liabilities ............................................................................................ 89 CORPORATE GOVERNANCE SYSTEM ....................................................................................... 98 1. Controlling Shareholder’s Memorandum ................................................................................. 98 2. Corporate Governance System ................................................................................................. 99 3. General Shareholders’ meeting ............................................................................................... 103 4. Supervisory Board .................................................................................................................. 106 5. Chairman of the Management Board and the Management Board ......................................... 131 6. Internal Control System .......................................................................................................... 137 FOR SHAREHOLDERS AND INVESTORS ................................................................................. 142 SUSTAINABLE DEVELOPMENT ................................................................................................. 150 1. Human Resources ................................................................................................................... 150 2. Society .................................................................................................................................... 155 3. Sustainable Development Management .................................................................................. 157 CONTACTS ....................................................................................................................................... 162 APPENDICES .................................................................................................................................... 164 Appendix 1 ...................................................................................................................................... 164 Statements under IFRS ................................................................................................................... 164 Appendix 2 ...................................................................................................................................... 170 Statements under RAS .................................................................................................................... 170 Appendix 3 ...................................................................................................................................... 170 List of Interested Party Transactions Made in the Reporting Year (2020) ..................................... 170 List of Major Transactions Made in the Reporting Year (2020) .................................................... 170 Appendix 4 ...................................................................................................................................... 171 Report on Compliance with Principles and Recommendations of Corporate Governance Code ... 171 2 MKB TODAY 1. MKB at a Glance 3 2. Milestones 4 3. Awards and Nominations 5 4. Key Financial Indicators Net Income (RUB bln) Earnings per Share (RUB) Net Interested Income (RUB bln) 59.2 0.89 0.9 27.2 30.0 48.4 45.3 12.0 0.32 2018 2019 2020 2018 2019 2020 2018 2019 2020 ROE (%) Net Interest Margin (%) CTI (%) 19.9% 2.6% 16.9% 51.6% 7.8% 2.3% 2.2% 29.8% 28.3% 2018 2019 2020 2018 2019 2020 2018 2019 2020 6 Assets (RUB tln) Gross Corporate Loan Gross Retail Loan Portfolio 2.9 Portfolio (RUB bln) (RUB bln) 925.8 2.4 133.3 2.1 643.5 719.4 96.6 109.8 2018 2019 2020 2018 2019 2020 2018 2019 2020 Corporate Deposits (RUB Retail Deposits (RUB bln) Equity (RUB bln) bln) 486.2 501.5 1236.0 375.1 234.5 191.2 210.4 897.1 853.4 2018 2019 2020 2018 2019 2020 2018 2019 2020 NPL (%) NPL Coverage (%) CET 1 ratio (%) 15.0% 260.0% 3.6% 14.5% 3.1% 136.6% 154.5% 14.1% 1.6% 2018 2019 2020 2018 2019 2020 2018 2019 2020 7 5. Mission and Values The Bank builds its strategy around the main goal – to be a reliable, helpful and insightful financial assistant for customers and partners, thus promoting the development of each of them and the national economy on the whole. The Bank undertakes to carry out its business in good faith, applying the seven principles of socially responsible behaviour as outlined in ISO 26000: accountability, transparency, ethical behaviour, respect for stakeholder interests, respect for the rule of law, respect for international norms of behaviour, and respect for human rights. The Bank's business is hinged on the understanding that social and economic development and the environment are inseparably interrelated. The Bank's environment protection activities are based on strict compliance with the requirements and standards of applicable Russian environmental laws and international S&E rules and standards. EBRD's equity participation allows MKB to lead the way in implementing best practices of corporate governance, and guarantees its compliance with certain global and European S&E standards. Responsible conduct of business, mitigation of environmental impacts and growing contribution to the global sustainable development agenda are among MKB's major priorities, along with the achievement of strong financial results. MKB sees its sustainable development mission in exemplifying sustainable development principles for its customers and partners, guided by social and environmental responsibility principles. Sustainable development in business means contributing as much as you can to ensuring decent opportunities for the future generations. I.e. this is caring for the future. That's what MKB chose as its green slogan "Caring for the future" – to tell the society in whole why it follows sustainable development principles. 8 STRATEGIC REPORT 1. Address of the Chairman of the Supervisory Board DEAR SHAREHOLDERS, INVESTORS, CUSTOMERS, PARTNERS AND EMPLOYEES, The year
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