CREDIT BANK OF MOSCOW (CBOM) Q1 2025 earnings summary

Executive summary

• Net profit for Q1 2025 was RUB 2,304 million, down from RUB 13,981 million in Q1 2024, reflecting a significant year-over-year decline.

• Total comprehensive income for Q1 2025 was RUB 2,973 million, compared to RUB 11,308 million in Q1 2024.

• The bank remains among the top 10 Russian banks by assets, with a broad branch network and 7,519 employees as of March 2025.

Financial highlights

• Net interest income for Q1 2025 was RUB 21,300 million, a decrease from RUB 23,617 million in Q1 2024.

• Operating income dropped to RUB 11,047 million from RUB 25,192 million year-over-year.

• Operating expenses increased to RUB 9,842 million, up from RUB 8,560 million in Q1 2024.

• Earnings per share fell to RUB 0.04 from RUB 0.37 year-over-year.

• Total assets as of March 31, 2025, were RUB 4,801,041 million, down from RUB 5,008,951 million at year-end 2024.

Outlook and guidance

• The Russian economy showed 1.7% GDP growth in Q1 2025, supported by domestic demand and rising real incomes.

• Inflation decreased to 8.3% and the key rate remained at 21% per annum.

• Management notes ongoing sanctions pressure and macroeconomic uncertainty.