Russia’s Bank Saint Petersburg posted RUB13bn ($144mn) net profit in 1Q24 (down 11% year on year, but up 13% quarter on quarter), making a return on equity (ROE) of 29%.
As followed by bne IntelliNews, the bank's profit for 2023 overall amounted to RUB47.3bn, flat y/y, and making an ROE of 30%. In May 2024 the bank announced dividend of RUB23.37 per common share and RUB0.22 per preferred share for 2023.
Renaissance Capital wrote on May 20 that the bank estimates the impact of the dividend payment on capital adequacy at 1.2 percentage points. Total capital adequacy increased by 0.7 pp to 21.2% as of end of 1Q24.
Bank St Petersburg also updated its 2024 outlook, forecasting loan portfolio growth of 10% (due to the corporate segment mostly), operating expenses/income ratio of 31% and return on equity above 20%.
In 1Q24 the loan book grew by 3%. Net interest income was up by 53% y/y and net fee and commission income declined by 25% y/y on lower volume of currency transactions.
Related Articles
Egypt and Russia sign supplementary agreements to advance El-Dabaa nuclear plant
Egypt and Russia have signed a supplementary intergovernmental agreement to push forward the El-Dabaa nuclear power plant project in Egypt, Al Arabiya reported on July 8, citing a statement from ... more
Non-performing loans hit historic low in CESEE, but early warning signs emerge, says EBRD
Non-performing loans (NPLs) in central, eastern and south-eastern Europe (CESEE) fell to their lowest levels since the global financial crisis in 2024, but early indicators suggest rising risks ... more
China’s LNG imports slump for eighth month
China’s LNG imports have fallen on a year-on-year basis for the eighth consecutive month, Bloomberg reported on June 26 citing data from Kpler. Imports of the super-chilled fuel in the world’s ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
15 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago