BANK "SAINT-PETERSBURG On November 17, 2021, the Bank's Supervisory Board meeting was held. The Supervisory Board members approved Strategy 2021-2023 amendment.
In the approved document the Bank confirmed its strategic priorities:
- Market leadership in EXIM operations
- Significant growth in SME business
- Large corporate business position strengthening
- Growth of high income-generating customer base
- Remote model of customer acquisition and service
Strategic metrics for "Significant growth in SME business" were restated - key indicators of customer base profitability were refined, leading to 35% revenues growth in the segment on the horizon of the Strategy.
On the backdrop of growing regulator and market requirements and increasing cyber threats, technological resilience and information security become our additional focus area for investments.
The new section concerning Capital management was also implemented in the Strategy. It defines business growth as a priority in terms of capital utilization. The Bank also confirms its intention to distribute capital to shareholders in a form of dividends (at least 20% of IFRS net profit) and share buybacks.
On the backdrop of economic recovery, loan portfolio quality improvement and decrease of expected loan loss provisioning the Bank increases ROE target.
Strategy 2021-2023 amendment is available on the Bank's website at: https://www.bspb.ru/en/investors/
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Bank Saint-Petersburg OJSC published this content on 17 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2021 17:59:32 UTC.
