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Vozrozhdenie Bank

MISX:VZRZ
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VZRZ
MISX
RUB12B
Market Cap
  1. Home
  2. RU
  3. Banks
Company description

Public joint-stock company Vozrozhdenie Bank provides banking products and services in Russia. The last earnings update was 16 days ago. More info.


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VZRZ Share Price and Events
7 Day Returns
0%
MISX:VZRZ
-1.8%
RU Banks
0.7%
RU Market
1 Year Returns
20.6%
MISX:VZRZ
12.3%
RU Banks
16.3%
RU Market
VZRZ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vozrozhdenie Bank (VZRZ) 0% 0% 1.9% 20.6% -25.2% 26%
RU Banks -1.8% 5.2% 16.7% 12.3% 83.9% 176.7%
RU Market 0.7% 7.4% 10.2% 16.3% 44.5% 92.1%
1 Year Return vs Industry and Market
  • VZRZ outperformed the Banks industry which returned 12.3% over the past year.
  • VZRZ outperformed the Market in Russian Federation which returned 16.3% over the past year.
Price Volatility
VZRZ
Industry
5yr Volatility vs Market

VZRZ Value

 Is Vozrozhdenie Bank 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 Vozrozhdenie Bank 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 Vozrozhdenie Bank.

MISX:VZRZ 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
= RUB914.84 * 8.9%
RUB81.43
Book Value of Equity per Share Median Book Value from the past 5 years. RUB914.84
Discount Rate (Cost of Equity) See below 16.5%
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:VZRZ
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))
= 0.591 (1 + (1- 20%) (41.1%))
0.856
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 8.44% + (0.856 * 9.43%)
16.52%

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

The calculations below outline how an intrinsic value for Vozrozhdenie Bank 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:VZRZ Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.9% – 16.52%) * RUB914.84)
RUB-69.67
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= RUB-69.67 / (16.52% - 8.44%)
RUB-862.63
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= RUB914.84 + RUB-862.63
RUB52.22
MISX:VZRZ Discount to Share Price
Calculation Result
Value per share (RUB) From above. RUB52.22
Current discount Discount to share price of RUB480.00
= -1 x (RUB480.00 - RUB52.22) / RUB52.22
-819.2%

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

  • The current share price of Vozrozhdenie Bank 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 Vozrozhdenie Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vozrozhdenie Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MISX:VZRZ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in RUB RUB-227.75
MISX:VZRZ Share Price ** MISX (2019-06-14) in RUB RUB480
Russian Federation Banks Industry PE Ratio Median Figure of 8 Publicly-Listed Banks Companies 7.19x
Russian Federation Market PE Ratio Median Figure of 136 Publicly-Listed Companies 7.21x

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

** Primary Listing of Vozrozhdenie Bank.

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

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

= 480 ÷ -227.75

-2.11x

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

  • Vozrozhdenie Bank is loss making, we can't compare its value to the RU Banks industry average.
  • Vozrozhdenie Bank is loss making, we can't compare the value of its earnings to the Russian Federation market.
Price based on expected Growth
Does Vozrozhdenie Bank's expected growth come at a high price?
Raw Data
MISX:VZRZ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.11x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
46.3%per year
Europe Banks Industry PEG Ratio Median Figure of 113 Publicly-Listed Banks Companies 0.76x
Russian Federation Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 0.65x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Vozrozhdenie Bank, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Vozrozhdenie Bank's assets?
Raw Data
MISX:VZRZ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in RUB RUB731.00
MISX:VZRZ Share Price * MISX (2019-06-14) in RUB RUB480
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 0.78x
MISX:VZRZ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 480 ÷ 731.00

0.66x

* Primary Listing of Vozrozhdenie Bank.

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

  • Vozrozhdenie Bank is overvalued based on assets compared to the RU Banks industry average.
X
Value checks
We assess Vozrozhdenie Bank'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. Vozrozhdenie Bank has a total score of 0/6, 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.

VZRZ Future Performance

 How is Vozrozhdenie Bank expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Vozrozhdenie Bank, future earnings growth has been estimated based on fundamentals.
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
46.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vozrozhdenie Bank expected to grow at an attractive rate?
  • Vozrozhdenie Bank's earnings growth is expected to exceed the low risk savings rate of 8.4%.
Growth vs Market Checks
  • Vozrozhdenie Bank's earnings growth is expected to exceed the Russian Federation market average.
  • Unable to compare Vozrozhdenie Bank's revenue growth to the Russian Federation market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
MISX:VZRZ Future Growth Rates Data Sources
Data Point Source Value (per year)
MISX:VZRZ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 46.3%
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 2.6%
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:VZRZ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in RUB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
MISX:VZRZ Future Estimates Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
MISX:VZRZ Past Financials Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income *
2019-03-31 4,564 -19,131 -5,718
2018-12-31 3,824 -15,689 -6,595
2018-09-30 2,231 1,036 -7,683
2018-06-30 14,975 19,796 2,930
2018-03-31 14,576 17,514 3,367
2017-12-31 13,897 17,286 3,264
2017-09-30 13,772 -12,764 3,590
2017-06-30 12,570 -23,118 2,707
2017-03-31 12,361 -23,570 2,921
2016-12-31 11,954 -32,788 2,115
2016-09-30 9,707 -19,937 -17
2016-06-30 7,120 -20,658 -2,705

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vozrozhdenie Bank's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Vozrozhdenie Bank is high growth as no revenue estimate data is available.
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:VZRZ 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 0 Analyst Estimates (S&P Global) See Below

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

MISX:VZRZ Future Estimates Data
Date (Data in RUB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
MISX:VZRZ Past Financials Data
Date (Data in RUB Millions) EPS *
2019-03-31 -227.75
2018-12-31 -263.34
2018-09-30 -291.79
2018-06-30 111.12
2018-03-31 135.74
2017-12-31 130.33
2017-09-30 143.45
2017-06-30 108.72
2017-03-31 115.35
2016-12-31 84.45
2016-09-30 -0.68
2016-06-30 -107.03

*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.
  • Unable to establish if Vozrozhdenie Bank will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Vozrozhdenie Bank'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.
Vozrozhdenie Bank 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.

VZRZ Past Performance

  How has Vozrozhdenie Bank 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 Vozrozhdenie Bank'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.
  • Vozrozhdenie Bank does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Vozrozhdenie Bank's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Vozrozhdenie Bank's 1-year growth to the RU Banks industry average as it is not currently profitable.
Earnings and Revenue History
Vozrozhdenie Bank'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 Vozrozhdenie Bank Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:VZRZ 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 4,564.00 -5,718.00 8,822.00
2018-12-31 3,824.00 -6,595.00 8,693.00
2018-09-30 2,231.00 -7,683.00 8,733.00
2018-06-30 14,975.00 2,930.00 8,322.00
2018-03-31 14,576.00 3,367.00 8,420.00
2017-12-31 13,897.00 3,264.00 8,264.00
2017-09-30 13,772.00 3,590.00 7,510.00
2017-06-30 12,570.00 2,707.00 7,561.00
2017-03-31 12,361.00 2,921.00 7,515.00
2016-12-31 11,954.00 2,115.00 7,964.00
2016-09-30 9,707.00 -17.00 7,752.00
2016-06-30 7,120.00 -2,705.00 8,004.00
2016-03-31 5,476.00 -4,087.00 8,244.00
2015-12-31 5,573.00 -3,778.00 8,386.00
2015-09-30 7,355.00 -2,563.00 9,337.00
2015-06-30 9,648.00 -227.00 9,720.00
2015-03-31 10,915.00 813.00 9,102.00
2014-12-31 11,187.00 1,201.00 8,881.00
2014-09-30 11,518.00 1,951.00 9,139.00
2014-06-30 11,347.00 1,827.00 8,407.00
2014-03-31 11,055.00 1,584.00 8,447.00
2013-12-31 10,808.00 1,489.00 8,349.00
2013-09-30 10,662.00 1,309.00 7,455.00
2013-06-30 10,966.00 1,645.00 7,367.00
2013-03-31 11,532.00 2,135.00 7,608.00
2012-12-31 12,071.00 2,328.00 7,315.00
2012-09-30 11,880.00 2,173.00 8,081.00
2012-06-30 11,794.00 2,001.00 7,893.00

*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.
  • It is difficult to establish if Vozrozhdenie Bank has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Vozrozhdenie Bank has efficiently used its assets last year compared to the RU Banks industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Vozrozhdenie Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Vozrozhdenie Bank'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.
Vozrozhdenie Bank has a total score of 0/6, 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.

VZRZ Health

 How is Vozrozhdenie Bank'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 Vozrozhdenie Bank'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 Vozrozhdenie Bank Company Filings, last reported 2 months ago.

MISX:VZRZ Past Debt and Equity Data
Date (Data in RUB Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 18,179.00 4,800.00 71,417.00
2018-12-31 16,668.00 3,141.00 47,092.00
2018-09-30 15,170.00 4,439.00 31,576.00
2018-06-30 24,363.00 5,053.00 26,032.00
2018-03-31 24,437.00 7,678.00 25,425.00
2017-12-31 27,081.00 7,705.00 40,567.00
2017-09-30 26,227.00 12,700.00 35,715.00
2017-06-30 24,667.00 8,839.00 29,175.00
2017-03-31 24,295.00 4,863.00 18,044.00
2016-12-31 23,761.00 9,141.00 31,305.00
2016-09-30 22,808.00 13,918.00 35,343.00
2016-06-30 22,146.00 6,186.00 32,723.00
2016-03-31 21,925.00 13,880.00 31,415.00
2015-12-31 22,211.00 16,936.00 35,620.00
2015-09-30 21,442.00 7,817.00 36,032.00
2015-06-30 23,327.00 9,526.00 44,875.00
2015-03-31 23,984.00 7,110.00 40,259.00
2014-12-31 23,804.00 14,073.00 39,853.00
2014-09-30 23,597.00 9,379.00 42,901.00
2014-06-30 23,196.00 15,131.00 36,091.00
2014-03-31 22,793.00 19,508.00 30,903.00
2013-12-31 22,366.00 13,158.00 34,102.00
2013-09-30 21,614.00 9,192.00 40,569.00
2013-06-30 21,351.00 9,136.00 48,713.00
2013-03-31 21,162.00 9,682.00 45,604.00
2012-12-31 20,807.00 9,835.00 52,175.00
2012-09-30 20,250.00 7,953.00 41,110.00
2012-06-30 19,638.00 8,293.00 39,702.00
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.
  • Vozrozhdenie Bank has an acceptable proportion of non-loan assets held.
  • Vozrozhdenie Bank's liabilities are made up of primarily low risk sources of funding.
  • Loans at Vozrozhdenie Bank are broadly funded by customer deposits.
  • Vozrozhdenie Bank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if Vozrozhdenie Bank has a sufficient allowance for bad loans without relevant financial data.
  • Unable to establish if Vozrozhdenie Bank has an acceptable level of bad loans without bad loans data.
X
Financial health checks
We assess Vozrozhdenie Bank'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. Vozrozhdenie Bank has a total score of 4/6, 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.

VZRZ Dividends

 What is Vozrozhdenie Bank'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
0.1%
Current annual income from Vozrozhdenie Bank dividends.
If you bought RUB2,000 of Vozrozhdenie Bank shares you are expected to receive RUB2 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?
  • Vozrozhdenie Bank's pays a lower dividend yield than the bottom 25% of dividend payers in Russian Federation (3.24%).
  • Vozrozhdenie Bank'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:VZRZ 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 0 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:VZRZ Future Dividends Estimate Data
Date (Data in RUB) Dividend per Share (annual) Avg. No. Analysts
MISX:VZRZ Past Annualized Dividends Data
Date (Data in RUB) Dividend per share (annual) Avg. Yield (%)
2019-03-29 0.500 0.104
2018-03-27 0.500 0.120
2017-06-30 7.700 1.384
2016-04-06 0.500 0.074
2014-03-26 0.500 0.118
2013-03-27 0.500 0.119
2012-07-27 0.500 0.084
2012-03-26 0.500 0.095
2011-03-28 0.500 0.064
2010-03-01 0.500 0.044
2010-02-10 0.500 0.037

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

  • Vozrozhdenie Bank is not paying a notable dividend for Russian Federation, therefore no need to check if the payments are stable.
  • Vozrozhdenie Bank is not paying a notable dividend for Russian Federation, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Vozrozhdenie Bank's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Vozrozhdenie Bank's dividends as it is not paying a notable one for Russian Federation.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Vozrozhdenie Bank'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 Vozrozhdenie Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vozrozhdenie Bank has a total score of 0/6, see the detailed checks below.


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

VZRZ Management

 What is the CEO of Vozrozhdenie Bank'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
Gennadiy Soldatenkov
AGE 66
TENURE AS CEO 0.8 years
CEO Bio

Mr. Gennadiy Vladimirovich Soldatenkov has been Director of Vozrozhdenie Bank since January 2019. Mr. Soldatenkov has been Chairman of the Management Board at Vozrozhdenie Bank since August 14, 2018. Mr. Soldatenkov served as Chairman of Management Board and President at Joint stock commercial bank - Bank of Moscow (open joint stock company) (alternate name: Bank of Moscow) from July 1, 2015 to August 2018. Mr. Soldatenkov served as the First Deputy of the President -Chairman of the Board at Joint stock commercial bank - Bank of Moscow until June 2015 and has been its Member of its Management Board since May 2011 and served as its First Deputy Chairman of the Management Board. Mr. Soldatenkov served as Deputy President – Chairman of the Management Board at Bank of Moscow. He served as Deputy Chairman of the Management Board of JSC VTB Bank from January 2001 to May 13, 2011 and was responsible for the oversight of the Regional Business and the IT Projects Coordination Department. He served as Deputy President of VTB Bank and served as its Member of the Management Board from January 2001 to May 13, 2011. He served as Deputy Chairman of the Management Board of VTB Bank (Deutschland) AG from May 23, 2006 to February 6, 2007 and served as its Member of the Management Board. He served as a Member of Management Board at JSC VTB Bank since December 29, 2016 until August 2018. From 1975 to 1982, Mr. Soldatenkov held different positions in the State Bank of the USSR. He served as Deputy Chairman of the Management Board of JSC Sberbank. since 2001. From 1991 to 2001, he served as the Chairman of the Moscow Bank of Sberbank of the Russian Federation. From 1982 to 1986, he served as Deputy Chairman of the Executive Committee in Kalinin municipality in the City of Moscow. He serves as a Director of Bank of Moscow. He serves as a Member of the Council of the Moscow Stock Exchange. Mr. Soldatenkov graduated with honors from the Moscow Financial Institute with a specialization in finance and credit in 1975 and the Moscow Higher Party School in 1989. He holds Economics Degree with Specialisation in Finance and Credit from Moscow Institute of Finance in 1975.

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

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

1.5
Average Tenure
52
Average Age
  • The average tenure for the Vozrozhdenie Bank management team is less than 2 years, this suggests a new team.
Management Team

Gennadiy Soldatenkov

TITLE
Chairman of Management Board & Director
AGE
66
TENURE
0.8 yrs

Evgeniy Pavlov

TITLE
Deputy Chairman of Management Board & Head of Corporate Business Block
AGE
42
TENURE
1.5 yrs

Natalia Shabunina

TITLE
Deputy Chairman of Management Board
AGE
52
TENURE
1.5 yrs

Stanislav Belov

TITLE
Deputy Chairman of the Management Board
AGE
45
TENURE
0.8 yrs

Vyacheslav Tomashevsky

TITLE
Deputy Chairman of Management Board
AGE
47
TENURE
0.8 yrs

Anton Ryabov

TITLE
Chief Operating Officer
TENURE
3.4 yrs

Elena Volik

TITLE
Chief Accountant

Aleksander Bolvinov

TITLE
Head of Administration Department
AGE
56

Julia Vinogradova

TITLE
Head of IR

Mikhail Semko

TITLE
Head of Legal Department
AGE
55
TENURE
7.4 yrs
Board of Directors Tenure

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

0.4
Average Tenure
47
Average Age
  • The average tenure for the Vozrozhdenie Bank board of directors is less than 3 years, this suggests a new board.
Board of Directors

Dmitriy Olyunin

TITLE
Chairman of the Board of Directors
AGE
50
TENURE
0.4 yrs

Gennadiy Soldatenkov

TITLE
Chairman of Management Board & Director
AGE
66
TENURE
0.4 yrs

Anatoly Pechatnikov

TITLE
Deputy Chairman of the Board
AGE
49
TENURE
0.4 yrs

Elena Shtykanova

TITLE
Executive Director
AGE
58
TENURE
0.4 yrs

Maxim Kondratenko

TITLE
Director
AGE
45
TENURE
0.4 yrs

Oleg Gorlinsky

TITLE
Director
AGE
49
TENURE
0.4 yrs

Vladimir Levykin

TITLE
Director
AGE
36
TENURE
0.4 yrs

Vyacheslav Dusaleev

TITLE
Director
AGE
38
TENURE
0.4 yrs

Denis Bortnikov

TITLE
Director
AGE
44
TENURE
0.4 yrs

Ilya Khersontsev

TITLE
Independent Director
AGE
41
TENURE
0.4 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 Vozrozhdenie Bank'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. Vozrozhdenie Bank 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.

VZRZ News

Simply Wall St News

Three Key Risks For Public joint-stock company Vozrozhdenie Bank (MCX:VZRZ) You Should Know

As a small-cap bank with a market capitalisation of RUруб9.90b, Public joint-stock company Vozrozhdenie Bank’s (MCX:VZRZ) profit and value are directly affected by economic activity. … Risk associate with repayment is measured by the level of bad debt which is an expense written off Vozrozhdenie Bank’s bottom line. … Looking through a risk-lens is a useful way to assess the attractiveness of Vozrozhdenie Bank's a stock investment.

Simply Wall St -

What Makes Public joint-stock company Vozrozhdenie Bank (MCX:VZRZ) A Hard Investment?

Public joint-stock company Vozrozhdenie Bank’s (MCX:VZRZ) profitability and risk are largely affected by the underlying economic growth for the region it operates in RU given it is a small-cap stock with a market capitalisation of RUруб8.89b. … Since its financial standing can unexpectedly decline in the case of an adverse macro event such as political instability, it is important to understand how prudent the bank is at managing its risk levels. … Today we will be measuring Vozrozhdenie Bank’s financial risk position by looking at three leverage and liquidity metrics.

Simply Wall St -

Three Key Risks For Public joint-stock company Vozrozhdenie Bank (MCX:VZRZ) You Should Know

Public joint-stock company Vozrozhdenie Bank (MCX:VZRZ) is a small-cap bank with a market capitalisation of RUруб9.71b. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Vozrozhdenie Bank’s bottom line. … Today we will analyse Vozrozhdenie Bank’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

What’s Ahead For Public joint-stock company Vozrozhdenie Bank (MCX:VZRZ)?

Vozrozhdenie Bank lags the pack with its lower growth rate of 54.33% over the past year, which indicates the company will be growing at a slower pace than its banking peers. … In terms of returns, Vozrozhdenie Bank generated 12.09% in the past year, which is 2.75% over the banking sector. … Next Steps: Vozrozhdenie Bank has been a banking industry laggard in the past year.

Simply Wall St -

Does Public joint-stock company Vozrozhdenie Bank's (MCX:VZRZ) 54.33% Earnings Growth Make It An Outperformer?

Today I will take a look at Public joint-stock company Vozrozhdenie Bank's (MISX:VZRZ) most recent earnings update (31 December 2017) and compare these latest figures against its performance over the past few years, as well as how the rest of the banks industry performed. … View our latest analysis for Vozrozhdenie Bank Were VZRZ's earnings stronger than its past performances and the industry? … Since these figures may be somewhat short-term, I have determined an annualized five-year figure for Vozrozhdenie Bank's net income, which stands at RUРУБ1.01B This means that, on average, Vozrozhdenie Bank has been able to consistently raise its bottom line over the last few years as well.

Simply Wall St -

Can Public joint-stock company Vozrozhdenie Bank (MCX:VZRZ) Survive The Next Financial Crisis?

Today we will be measuring Vozrozhdenie Bank’s financial risk position by looking at three leverage and liquidity metrics. … Compared to the appropriate industry loan to deposit level of 90%, Vozrozhdenie Bank’s ratio of over 76.51% is sensibly lower and within the safe margin, which positions the bank cautiously in terms of liquidity as it has not disproportionately lent out its deposits and has retained an apt level of deposits.Next Steps: Vozrozhdenie Bank passes all of our liquidity and leverage checks which shows it is prudent in managing those factors. … High liquidity and low leverage places the bank in an ideal position to repay financial liabilities in case of adverse headwinds.

Simply Wall St -

Does Public joint-stock company Vozrozhdenie Bank's (MCX:VZRZ) PE Ratio Warrant A Buy?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for VZRZ Price per share = RUB346 Earnings per share = RUB130.335 ∴ Price-Earnings Ratio = RUB346 ÷ RUB130.335 = 2.7x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … VZRZ’s P/E of 2.7x is lower than its industry peers (6x), which implies that each dollar of VZRZ’s earnings is being undervalued by investors. … For example, if you are inadvertently comparing lower risk firms with VZRZ, then VZRZ’s P/E would naturally be lower than its peers, since investors would value those with lower risk with a higher price.

Simply Wall St -

Should You Be Concerned About Public joint-stock company Vozrozhdenie Bank’s (MCX:VZRZ) Risks?

Given its high bad loan to bad debt ratio of 123.17% Vozrozhdenie Bank has cautiously over-provisioned 23.17% above the appropriate minimum, indicating a safe and prudent forecasting methodology, and its ability to anticipate the factors contributing to its bad loan levels. … Vozrozhdenie Bank’s total deposit level of 93.48% of its total liabilities is very high and is well-above the sensible level of 50% for financial institutions. … This may mean the bank is too cautious with its level of its safer form of borrowing and has plenty of headroom to take on risker forms of liability.Next Steps: Vozrozhdenie Bank has maintained a safe level of deposits against its liabilities.

Simply Wall St -

Public joint-stock company Vozrozhdenie Bank (MCX:VZRZ) Delivered A Better ROE Than The Industry, Here’s Why

View our latest analysis for Vozrozhdenie Bank What you must know about ROE Return on Equity (ROE) is a measure of Vozrozhdenie Bank’s profit relative to its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of Vozrozhdenie Bank’s equity capital deployed. … Since Vozrozhdenie Bank’s return covers its cost in excess of 5.34%, its use of equity capital is efficient and likely to be sustainable.

Simply Wall St -

VZRZ Company Info

Description

Public joint-stock company Vozrozhdenie Bank provides banking products and services in Russia. It operates through Corporate Business, Retail Business, Financial Business, and Liquidity segments. The company’s deposit products include settlement and current accounts, and bills and deposit certificates. Its loan portfolio comprises individual loans, revolving loans, guarantees, overdrafts, credit lines, and other types of financing. In addition, the company provides settlement and cash, collection, factoring, lending, foreign currency, derivative financial instruments, securities transactions, custody, payroll project, ATM, and card-based services. It operates through 16 branches. The company was founded in 1991 and is headquartered in Moscow, Russia. As of October 2, 2018, Public joint-stock company Vozrozhdenie Bank operates as a subsidiary of VTB Bank (public joint-stock company).

Details
Name: Public joint-stock company Vozrozhdenie Bank
VZRZ
Exchange: MISX
Founded: 1991
RUB11,680,021,804
25,043,199
Website: http://www.vbank.ru
Address: Public joint-stock company Vozrozhdenie Bank
Building 1,
7/4 Luchnikov Pereulok,
Moscow,
101990,
Russia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
MISX VZRZ Ordinary Shares Micex - Rts RU RUB 20. Nov 1996
MISX VZRZP Preference Shares Micex - Rts RU RUB 10. Feb 2010
Number of employees
Current staff
Staff numbers
0
Vozrozhdenie Bank employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/14 21:17
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2018/03/27
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.