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Credit Bank of Moscow

MISX:CBOM
Snowflake Description

Excellent balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CBOM
MISX
RUB161B
Market Cap
  1. Home
  2. RU
  3. Banks
Company description

Credit Bank of Moscow (public joint-stock company) provides various banking products and services in Russia. The last earnings update was 17 days ago. More info.


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CBOM Share Price and Events
7 Day Returns
-0.4%
MISX:CBOM
-3.6%
RU Banks
0.2%
RU Market
1 Year Returns
19.6%
MISX:CBOM
13.9%
RU Banks
16.8%
RU Market
CBOM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Credit Bank of Moscow (CBOM) -0.4% 0.1% 0.5% 19.6% 50.8% -
RU Banks -3.6% 4.1% 16% 13.9% 80.7% 176.8%
RU Market 0.2% 7.3% 9.9% 16.8% 43.9% 93.1%
1 Year Return vs Industry and Market
  • CBOM outperformed the Banks industry which returned 13.9% over the past year.
  • CBOM outperformed the Market in Russian Federation which returned 16.8% over the past year.
Price Volatility
CBOM
Industry
5yr Volatility vs Market

Value

 Is Credit Bank of Moscow undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Credit Bank of Moscow to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Credit Bank of Moscow.

MISX:CBOM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= RUB6.46 * 11.5%
RUB0.75
Book Value of Equity per Share Median Book Value from the past 5 years. RUB6.46
Discount Rate (Cost of Equity) See below 27.3%
Perpetual Growth Rate 10-Year RU Government Bond Rate 8.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for MISX:CBOM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year RU Govt Bond Rate 8.4%
Equity Risk Premium S&P Global 9.4%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.593 (1 + (1- 20%) (451.38%))
2.161
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 8.44% + (2 * 9.43%)
27.3%

Discounted Cash Flow Calculation for MISX:CBOM using Excess Returns Model Model

The calculations below outline how an intrinsic value for Credit Bank of Moscow is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

MISX:CBOM Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.5% – 27.3%) * RUB6.46)
RUB-1.02
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= RUB-1.02 / (27.3% - 8.44%)
RUB-5.40
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= RUB6.46 + RUB-5.40
RUB1.06
MISX:CBOM Discount to Share Price
Calculation Result
Value per share (RUB) From above. RUB1.06
Current discount Discount to share price of RUB5.96
= -1 x (RUB5.96 - RUB1.06) / RUB1.06
-459.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Credit Bank of Moscow is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Credit Bank of Moscow's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Credit Bank of Moscow's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MISX:CBOM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in RUB RUB0.81
MISX:CBOM Share Price ** MISX (2019-06-14) in RUB RUB5.96
Russian Federation Banks Industry PE Ratio Median Figure of 8 Publicly-Listed Banks Companies 7.21x
Russian Federation Market PE Ratio Median Figure of 136 Publicly-Listed Companies 7.32x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Credit Bank of Moscow.

MISX:CBOM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= MISX:CBOM Share Price ÷ EPS (both in RUB)

= 5.96 ÷ 0.81

7.33x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Credit Bank of Moscow is overvalued based on earnings compared to the RU Banks industry average.
  • Credit Bank of Moscow is overvalued based on earnings compared to the Russian Federation market.
Price based on expected Growth
Does Credit Bank of Moscow's expected growth come at a high price?
Raw Data
MISX:CBOM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.33x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
16.1%per year
Europe Banks Industry PEG Ratio Median Figure of 113 Publicly-Listed Banks Companies 0.79x
Russian Federation Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 0.68x

*Line of best fit is calculated by linear regression .

MISX:CBOM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.33x ÷ 16.1%

0.45x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Credit Bank of Moscow is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Credit Bank of Moscow's assets?
Raw Data
MISX:CBOM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in RUB RUB7.08
MISX:CBOM Share Price * MISX (2019-06-14) in RUB RUB5.96
Russian Federation Banks Industry PB Ratio Median Figure of 9 Publicly-Listed Banks Companies 0.63x
Russian Federation Market PB Ratio Median Figure of 153 Publicly-Listed Companies 0.79x
MISX:CBOM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= MISX:CBOM Share Price ÷ Book Value per Share (both in RUB)

= 5.96 ÷ 7.08

0.84x

* Primary Listing of Credit Bank of Moscow.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Credit Bank of Moscow is overvalued based on assets compared to the RU Banks industry average.
X
Value checks
We assess Credit Bank of Moscow's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Credit Bank of Moscow has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Credit Bank of Moscow expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
16.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Credit Bank of Moscow expected to grow at an attractive rate?
  • Credit Bank of Moscow's earnings growth is expected to exceed the low risk savings rate of 8.4%.
Growth vs Market Checks
  • Credit Bank of Moscow's earnings growth is expected to exceed the Russian Federation market average.
  • Credit Bank of Moscow's revenue growth is expected to exceed the Russian Federation market average.
Annual Growth Rates Comparison
Raw Data
MISX:CBOM Future Growth Rates Data Sources
Data Point Source Value (per year)
MISX:CBOM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 16.1%
MISX:CBOM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 15.1%
Russian Federation Banks Industry Earnings Growth Rate Market Cap Weighted Average 11.1%
Europe Banks Industry Revenue Growth Rate Market Cap Weighted Average 4%
Russian Federation Market Earnings Growth Rate Market Cap Weighted Average 2.8%
Russian Federation Market Revenue Growth Rate Market Cap Weighted Average 4.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
MISX:CBOM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in RUB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
MISX:CBOM Future Estimates Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 83,059 31,443 1
2020-12-31 77,294 28,193 1
2019-12-31 60,398 19,676 1
MISX:CBOM Past Financials Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income *
2019-03-31 56,464 -628,794 22,002
2018-12-31 59,296 19,754 24,126
2018-09-30 51,011 759,597 19,961
2018-06-30 48,588 589,118 18,721
2018-03-31 43,259 587,845 16,204
2017-12-31 45,123 515,409 19,221
2017-09-30 42,400 -221,212 17,861
2017-06-30 38,564 -169,912 15,815
2017-03-31 34,213 -85,488 13,810
2016-12-31 29,874 -242,733 10,874
2016-09-30 25,435 -334,003 8,316
2016-06-30 20,465 -315,908 5,382

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Credit Bank of Moscow's earnings are expected to grow by 16.1% yearly, however this is not considered high growth (20% yearly).
  • Credit Bank of Moscow's revenue is expected to grow by 15.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
MISX:CBOM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Credit Bank of Moscow Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:CBOM Future Estimates Data
Date (Data in RUB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.16 1.16 1.16 1.00
2020-12-31 1.04 1.04 1.04 1.00
2019-12-31 0.73 0.73 0.73 1.00
MISX:CBOM Past Financials Data
Date (Data in RUB Millions) EPS *
2019-03-31 0.81
2018-12-31 0.89
2018-09-30 0.74
2018-06-30 0.72
2018-03-31 0.64
2017-12-31 0.79
2017-09-30 0.75
2017-06-30 0.66
2017-03-31 0.58
2016-12-31 0.46
2016-09-30 0.36
2016-06-30 0.25

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Credit Bank of Moscow is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Credit Bank of Moscow's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Russian Federation market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Credit Bank of Moscow has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Credit Bank of Moscow performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Credit Bank of Moscow's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Credit Bank of Moscow has delivered over 20% year on year earnings growth in the past 5 years.
  • Credit Bank of Moscow's 1-year earnings growth exceeds its 5-year average (35.8% vs 33.7%)
  • Credit Bank of Moscow's earnings growth has exceeded the RU Banks industry average in the past year (35.8% vs 6.8%).
Earnings and Revenue History
Credit Bank of Moscow's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Credit Bank of Moscow Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:CBOM Past Revenue, Cash Flow and Net Income Data
Date (Data in RUB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 56,464.00 22,002.00 18,650.00
2018-12-31 59,296.00 24,126.00 18,293.00
2018-09-30 51,011.00 19,961.00 16,733.00
2018-06-30 48,588.00 18,721.00 16,529.00
2018-03-31 43,259.00 16,204.00 15,980.00
2017-12-31 45,123.00 19,221.00 15,818.00
2017-09-30 42,400.00 17,861.00 15,463.00
2017-06-30 38,564.00 15,815.00 15,354.00
2017-03-31 34,213.00 13,810.00 14,138.00
2016-12-31 29,874.00 10,874.00 13,450.00
2016-09-30 25,435.17 8,316.22 13,124.40
2016-06-30 20,464.82 5,381.72 11,742.59
2016-03-31 16,578.97 2,877.47 10,593.53
2015-12-31 13,897.95 1,509.47 9,715.67
2015-09-30 11,328.76 733.82 8,783.15
2015-06-30 13,095.18 2,520.66 8,546.50
2015-03-31 15,357.21 3,939.72 8,916.91
2014-12-31 17,212.35 5,569.33 8,836.36
2014-09-30 22,221.18 9,625.06 8,350.14
2014-06-30 21,772.22 9,298.00 8,182.56
2014-03-31 20,215.45 9,053.48 7,363.84
2013-12-31 19,530.89 8,880.06 7,096.62
2013-09-30 17,542.32 7,641.22 6,705.79
2013-06-30 16,595.57 7,450.87 6,493.84
2013-03-31 15,350.02 6,308.47 6,213.15
2012-12-31 14,458.00 5,777.88 5,955.77
2012-09-30 13,326.67 5,291.50 5,529.50
2012-06-30 11,573.81 4,179.27 4,917.83

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Credit Bank of Moscow has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Credit Bank of Moscow used its assets less efficiently than the RU Banks industry average last year based on Return on Assets.
  • Unable to establish if Credit Bank of Moscow improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Credit Bank of Moscow's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Credit Bank of Moscow has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Credit Bank of Moscow's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Credit Bank of Moscow's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Credit Bank of Moscow Company Filings, last reported 2 months ago.

MISX:CBOM Past Debt and Equity Data
Date (Data in RUB Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 191,607.00 728,134.00 1,162,356.00
2018-12-31 191,173.00 695,694.00 1,188,871.00
2018-09-30 183,508.00 615,284.00 1,052,704.00
2018-06-30 177,393.00 705,968.00 1,041,893.00
2018-03-31 170,498.00 657,460.00 1,035,611.00
2017-12-31 177,589.00 748,159.00 1,045,921.00
2017-09-30 159,410.00 610,811.00 912,521.00
2017-06-30 154,375.00 573,586.00 765,500.00
2017-03-31 107,919.00 559,455.00 755,087.00
2016-12-31 103,401.00 653,067.00 854,172.00
2016-09-30 101,343.05 111,701.27 597,194.13
2016-06-30 98,427.40 180,624.24 517,255.95
2016-03-31 94,688.90 130,023.31 634,002.42
2015-12-31 92,338.46 176,247.09 470,314.65
2015-09-30 76,088.61 271,962.15 425,209.96
2015-06-30 75,682.87 256,697.52 277,657.43
2015-03-31 61,178.97 127,825.94 152,580.93
2014-12-31 59,987.49 142,900.87 169,262.36
2014-09-30 56,847.36 103,036.32 100,660.16
2014-06-30 54,902.34 102,443.72 109,674.35
2014-03-31 52,442.64 103,513.16 109,704.53
2013-12-31 50,658.05 100,447.10 104,376.16
2013-09-30 47,403.31 89,005.10 84,488.65
2013-06-30 43,034.20 87,937.06 78,362.82
2013-03-31 41,025.91 70,581.11 67,198.01
2012-12-31 39,292.29 54,095.70 91,054.45
2012-09-30 36,637.97 51,814.00 59,211.31
2012-06-30 29,240.40 47,971.76 62,255.93
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Credit Bank of Moscow has an acceptable proportion of non-loan assets held.
  • Credit Bank of Moscow's liabilities are made up of primarily low risk sources of funding.
  • Loans at Credit Bank of Moscow are broadly funded by customer deposits.
  • Credit Bank of Moscow's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Credit Bank of Moscow has a sufficient allowance for bad loans.
  • Credit Bank of Moscow has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Credit Bank of Moscow's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Credit Bank of Moscow has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Credit Bank of Moscow's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.85%
Current annual income from Credit Bank of Moscow dividends. Estimated to be 3.08% next year.
If you bought RUB2,000 of Credit Bank of Moscow shares you are expected to receive RUB37 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Credit Bank of Moscow's pays a lower dividend yield than the bottom 25% of dividend payers in Russian Federation (3.2%).
  • Credit Bank of Moscow's dividend is below the markets top 25% of dividend payers in Russian Federation (8.6%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
MISX:CBOM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Russian Federation Banks Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 6.5%
Russian Federation Market Average Dividend Yield Market Cap Weighted Average of 74 Stocks 6.7%
Russian Federation Minimum Threshold Dividend Yield 10th Percentile 1.7%
Russian Federation Bottom 25% Dividend Yield 25th Percentile 3.2%
Russian Federation Top 25% Dividend Yield 75th Percentile 8.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

MISX:CBOM Future Dividends Estimate Data
Date (Data in RUB) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.23 1.00
2020-12-31 0.21 1.00
2019-12-31 0.11 1.00
MISX:CBOM Past Annualized Dividends Data
Date (Data in RUB) Dividend per share (annual) Avg. Yield (%)
2019-05-29 0.110 1.841
2019-03-11 0.110 1.845

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether Credit Bank of Moscow has stable dividend payments.
  • Credit Bank of Moscow only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Credit Bank of Moscow's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (7.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (5x coverage).
X
Income/ dividend checks
We assess Credit Bank of Moscow's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Credit Bank of Moscow afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Credit Bank of Moscow has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Credit Bank of Moscow's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Vladimir Alexandrovich Chubar
COMPENSATION RUB0
AGE 38
CEO Bio

Education: • 2005: degree in Finance and Credit from the Finance Academy under the Government of the Russian Federation. • 2007: course "Budgeting and Financial Planning in Commercial Banks" in the Association of Russian Banks' Institute of Banking Business. Career summary: • 06.2005 – 03.2006: Lead Associate of Financial Statements Unit of Financial Department of PAO Credit Bank of Moscow ("PAO Credit Bank"). • 03.2006 – 10.2007: Head of Financial Statements Unit of Financial Department of PAO Credit Bank. • 10.2007 – 03.2008: Head of Financial Department of Financial Division of PAO Credit Bank. • 03.2008 – 03.2008: Head of Financial Statements Department of Financial Division of PAO Credit Bank. • 04.2008 – 10.2008: Director of Financial Division of PAO Credit Bank. • 05.2008 – to date: Member of the Management Board ofPAO Credit Bank. • 10.2008 – 01.2010: Deputy Chairman of the Management Board of PAO Credit Bank. • 01.2010 – 01.2012: First Deputy Chairman of the Management Board of PAO Credit Bank. • 10.2010 – to date: Member of the Supervisory Board of PAO Credit Bank. • 02.2012 – to date: Chairman of the Management Board of PAO Credit Bank. • 09.2015 – to date: Member of the Board of Directors of ROSSIUM Concern LLC. • 08.2016 – to date: Member of the Board of Directors of Savings and Loans Services Bank LLC. • 08.2016 – to date: Chairman of the Board of Directors of Savings and Loans Services Bank LLC.

CEO Compensation
  • Insufficient data for Vladimir to compare compensation growth.
  • Insufficient data for Vladimir to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Credit Bank of Moscow management team in years:

1.5
Average Tenure
39.5
Average Age
  • The average tenure for the Credit Bank of Moscow management team is less than 2 years, this suggests a new team.
Management Team

Vladimir Alexandrovich Chubar

TITLE
Chairman of the Management Board & Member of the Supervisory Board
AGE
38

Alexey Kosyakov

TITLE
Deputy Chairman of the Management Board
AGE
35
TENURE
5.7 yrs

Alexander Kaznacheev

TITLE
Deputy Chairman of the Management Board
AGE
44
TENURE
1.7 yrs

Oleg Borunov

TITLE
Deputy Chairman of the Management Board
AGE
39
TENURE
1.5 yrs

Polunin Valerievich

TITLE
First Deputy Chairman of the Management Board
AGE
44
TENURE
1.3 yrs

Shevchuk Borisovich

TITLE
First Deputy Chairman of the Management Board
AGE
45
TENURE
1.3 yrs

Kamil Yusupov

TITLE
Deputy Chairman of the Management Board
AGE
47
TENURE
0.8 yrs

Sergey Putyatinsky

TITLE
Deputy Chairman of the Management Board
AGE
36
TENURE
0.4 yrs

Elena Shved

TITLE
Director of Financial Division & Member of the Management Board
AGE
31
TENURE
5.7 yrs

Anton Virichev

TITLE
Head of Risk Management Directorate & Member of the Management Board
AGE
40
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure and age of the Credit Bank of Moscow board of directors in years:

4.6
Average Tenure
56
Average Age
  • The tenure for the Credit Bank of Moscow board of directors is about average.
Board of Directors

Bill Owens

TITLE
Chairman of the Supervisory Board
AGE
68
TENURE
6.2 yrs

Vladimir Alexandrovich Chubar

TITLE
Chairman of the Management Board & Member of the Supervisory Board
AGE
38
TENURE
9.4 yrs

Andrew Gazitua

TITLE
Member of the Supervisory Board
AGE
56
TENURE
7.2 yrs

Yevgeniy Gudkov

TITLE
Chairman of Audit Panel
TENURE
4 yrs

Ilkka Salonen

TITLE
Member of the Supervisory Board
AGE
63
TENURE
2.6 yrs

Roman Avdeev

TITLE
Member of the Supervisory Board
AGE
51
TENURE
11.4 yrs

Thomas Grasse

TITLE
Member of the Supervisory Board
AGE
63
TENURE
5.3 yrs

Andreas Klingen

TITLE
Member of the Supervisory Board
AGE
54
TENURE
2.6 yrs

Sergey Menzhinsky

TITLE
Member of the Supervisory Board
AGE
47
TENURE
2 yrs

Peter Daresbury

TITLE
Member of the Supervisory Board
AGE
65
TENURE
1.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (RUB) Value (RUB)
X
Management checks
We assess Credit Bank of Moscow's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Credit Bank of Moscow has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Did Credit Bank of Moscow (public joint-stock company)'s (MCX:CBOM) 10.79% ROE Fare Against The Industry?

This analysis is intended to introduce important early concepts to people who are starting to invest. … and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … See our latest analysis for Credit Bank of Moscow

Simply Wall St -

Is Credit Bank of Moscow (public joint-stock company) (MCX:CBOM) Undervalued After Accounting For Its Future Growth?

Credit Bank of Moscow (public joint-stock company) (MCX:CBOM) is considered a high-growth stock, but its last closing price of RUB4.73 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … What can we expect from Credit Bank of Moscow in the future. … Analysts are predicting good growth prospects for Credit Bank of Moscow over the next couple of years

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Should You Be Tempted To Sell Credit Bank of Moscow (public joint-stock company) (MCX:CBOM) Because Of Its PE Ratio?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to better understand how you can grow your money by investing in Credit Bank of Moscow (public joint-stock company) (MCX:CBOM). … Credit Bank of Moscow (public joint-stock company) (MCX:CBOM) is trading with a trailing P/E of 6.7x, which is higher than the industry average of 5.7x.

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Should You Expect Credit Bank of Moscow (public joint-stock company) (MCX:CBOM) To Continue Delivering An ROE Of 11.66%?

See our latest analysis for Credit Bank of Moscow Peeling the layers of ROE – trisecting a company’s profitability Return on Equity (ROE) weighs Credit Bank of Moscow’s profit against the level of its shareholders’ equity. … For now, let’s just look at the cost of equity number for Credit Bank of Moscow, which is 7.78%. … Given a positive discrepancy of 3.88% between return and cost, this indicates that Credit Bank of Moscow pays less for its capital than what it generates in return, which is a sign of capital efficiency.

Simply Wall St -

Have You Considered These Key Risks For Credit Bank of Moscow (public joint-stock company) (MCX:CBOM)?

Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Credit Bank of Moscow’s bottom line. … Today we will analyse Credit Bank of Moscow’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank. … Since Credit Bank of Moscow’s total deposit to total liabilities is within the sensible margin at 55.61% compared to other banks' level of 50%, it shows a prudent level of the bank's safer form of borrowing and an appropriate level of risk.Next Steps: Credit Bank of Moscow exhibits prudent management of risky assets and lending behaviour with sensible levels for all three ratios.

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What Do Analysts Think About Credit Bank of Moscow (public joint-stock company)'s (MCX:CBOM) Earnings Trajectory?

The latest earnings release Credit Bank of Moscow (public joint-stock company)'s (MISX:CBOM) announced in December 2017 showed that the company experienced a sizeable tailwind, eventuating to a high double-digit earnings growth of 90.39%. … Below is a brief commentary on my key takeaways on how market analysts predict Credit Bank of Moscow's earnings growth outlook over the next few years and whether the future looks even brighter than the past. … This means that, we can expect Credit Bank of Moscow will grow its earnings by 5.16% every year for the next couple of years.

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Was Credit Bank of Moscow (public joint-stock company)'s (MCX:CBOM) Earnings Growth Better Than The Industry's?

After reading Credit Bank of Moscow (public joint-stock company)'s (MISX:CBOM) latest earnings update (31 December 2017), I found it beneficial to look back at how the company has performed in the past and compare this against the most recent numbers. … See our latest analysis for Credit Bank of Moscow Did CBOM's recent earnings growth beat the long-term trend and the industry? … For Credit Bank of Moscow, its latest trailing-twelve-month earnings is RUРУБ20.70B, which, relative to last year’s figure, has climbed up by a substantial 90.39%.

Simply Wall St -

Does Credit Bank of Moscow (public joint-stock company)'s (MCX:CBOM) PE Ratio Warrant A Buy?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for CBOM Price per share = RUB4.73 Earnings per share = RUB0.847 ∴ Price-Earnings Ratio = RUB4.73 ÷ RUB0.847 = 5.6x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … For example, if you are inadvertently comparing lower risk firms with CBOM, then CBOM’s P/E would naturally be lower than its peers, since investors would value those with lower risk with a higher price. … If this assumption does not hold true, CBOM’s lower P/E ratio may be because firms in our peer group are being overvalued by the market.

Simply Wall St -

What Makes Credit Bank of Moscow (public joint-stock company) (MCX:CBOM) A Hard Investment?

Today we will be measuring Credit Bank of Moscow’s financial risk position by looking at three leverage and liquidity metrics. … See our latest analysis for Credit Bank of Moscow MISX:CBOM Historical Debt Mar 23rd 18 Is CBOM's Leverage Level Appropriate? … Compared to the appropriate industry loan to deposit level of 90%, Credit Bank of Moscow’s ratio of over 78.16% is sensibly lower and within the safe margin, which places the bank in a relatively safe liquidity position given it has not excessively lent out its deposits and has maintained a suitable level for compliance.Next Steps: Credit Bank of Moscow meets all of our liquidity and leverage criteria, exhibiting operational prudency.

Simply Wall St -

What Is Credit Bank of Moscow (public joint-stock company)'s (MCX:CBOM) Share Price Doing?

Credit Bank of Moscow (public joint-stock company) (MISX:CBOM), operating in the financial services industry based in Russia, saw a decent share price growth in the teens level on the MISX over the last few months. … What’s more interesting is that, Credit Bank of Moscow’s share price is quite stable, which could mean two things: firstly, it may take the share price a while to move to its intrinsic value, and secondly, there may be less chances to buy low in the future once it reaches that value. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price.

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Company Info

Description

Credit Bank of Moscow (public joint-stock company) provides various banking products and services in Russia. The company operates through four segments: Corporate Business, Retail Banking, Treasury, and Cash Operations. The Corporate Business segment offers corporate and overdraft lending, factoring, financial and operating leasing, letters of credit, guarantees, corporate deposit transactions, and settlements and money transfer services. The Retail Banking segment provides retail demand and term deposit services; retail lending, including cashloans, car loans and mortgages, and private banking; and banking card products, as well as settlements and money transfer services. The Treasury segment offers interbank lending and borrowings from banks, securities trading and brokerage in securities, repo transactions, and foreign exchange services, as well as issues domestic bonds and promissory notes. The Cash Operations segment engages in cash handling, calculation, and transportation activities. It operates 132 branches, 1,204 ATMs, and 7,023 payment terminals in Moscow and the Moscow region. The company was founded in 1992 and is based in Moscow, Russia. Credit Bank of Moscow (public joint-stock company) is a subsidiary of LLC Concern Rossium.

Details
Name: Credit Bank of Moscow (public joint-stock company)
CBOM
Exchange: MISX
Founded: 1992
RUB161,313,831,671
27,079,709,866
Website: http://mkb.ru
Address: Credit Bank of Moscow (public joint-stock company)
Building 1,
2, Lukov Pereulok,
Moscow,
107045,
Russia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
MISX CBOM Ordinary Shares Micex - Rts RU RUB 01. Jul 2015
Number of employees
Current staff
Staff numbers
8,334
Credit Bank of Moscow employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/15 21:48
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/03
Last earnings filing: 2019/05/29
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.