Bank Saint Petersburg

Bank Saint Petersburg's npls (as % of loans) fell 9.01% yoy to 10.6% in 1Q2019

By Helgi Analytics - August 16, 2019

Bank Saint Petersburg's non-performing loans reached 10.6% of total loans at the end of 2019-03-31, down from 11.6% compared to t...

Bank Saint Petersburg's employees fell 3.79% yoy to 3,939 in 1Q2019

By Helgi Analytics - August 16, 2019

Bank Saint Petersburg employed 3,939 persons in 2019-03-31, up 2.05% when compared to the previous year. Historically, the bank'...

Bank Saint Petersburg's price/earnings (P/E) fell 13.9% yoy to 3.01 in 1Q2019

By Helgi Analytics - August 16, 2019

Bank Saint Petersburg stock traded at RUB 54.5 per share at the end first quarter of 2019 implying a market capitalization of USD 390 mil. ...

Profit Statement 2016 2017 2018
Net Interest Income RUB bil 22.1 20.5 23.1
Net Fee Income RUB bil 4.70 5.21 5.85
Other Income RUB bil 3.52 6.66 4.22
Total Revenues RUB bil 30.4 32.4 33.2
Staff Cost RUB bil 5.63 5.97 5.94
Operating Profit RUB bil 17.6 18.9 20.2
Provisions RUB bil 12.5 9.57 7.71
Net Profit RUB bil 4.28 7.43 8.94
Balance Sheet 2016 2017 2018
Interbank Loans RUB bil 33.4 34.9 32.4
Customer Loans RUB bil 315 318 339
Debt Securities RUB bil 164 181 232
Total Assets RUB bil 580 607 673
Shareholders' Equity RUB bil 60.9 70.9 75.7
Interbank Borrowing RUB bil 132 149 148
Customer Deposits RUB bil 350 353 407
Issued Debt Securities RUB bil 26.3 16.3 38.3
Ratios 2016 2017 2018
ROE % 7.27 11.3 12.2
ROA % 0.749 1.25 1.40
Costs (As % Of Assets) % 2.23 2.27 2.04
Costs (As % Of Income) % 42.0 41.6 39.3
Capital Adequacy Ratio % 16.2 16.7 17.2
Net Interest Margin % 3.88 3.46 3.62
Loans (As % Of Deposits) % 89.9 90.2 83.3
NPLs (As % Of Loans) % 5.45 5.75 10.8
Provisions (As % Of NPLs) % 205 192 90.2
Valuation 2016 2017 2018
Market Capitalisation (End Of Period) USD mil 486 449 377
Share Price (End Of Period) RUB 67.0 55.0 54.4
Price/Earnings (P/E) 6,891,380 3,479,570 2,931,250
Price/Book Value (P/BV) 484,319 387,815 333,340
Earnings Per Share (EPS) RUB < 0.001 < 0.001 < 0.001
Book Value Per Share RUB < 0.001 < 0.001 < 0.001

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summary Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                    
Net Interest Income RUB bil ...     12.0 13.4 18.5 17.5 22.1    
Total Revenues RUB bil ...     15.9 22.7 28.1 36.9 30.4    
Operating Profit RUB bil ...     8.65 15.0 18.4 26.1 17.6    
Net Profit RUB bil ...     1.30 6.70 4.80 3.62 4.28    
balance sheet                    
Interbank Loans RUB bil       2.90 8.62 29.3 35.1 33.4    
Customer Loans RUB bil       222 251 315 335 315    
Debt Securities RUB bil       60.0 87.5 78.1 127 164    
Total Assets RUB bil       351 409 522 563 580    
Shareholders' Equity RUB bil       40.3 47.7 51.3 56.8 60.9    
Interbank Borrowing RUB bil       52.3 70.5 103 135 132    
Customer Deposits RUB bil       223 253 308 326 350    
Issued Debt Securities RUB bil       33.5 36.3 45.9 39.3 26.3    
ratios                    
ROE % ...     3.24 15.2 9.69 6.70 7.27    
ROA % ...     0.383 1.76 1.03 0.668 0.749    
Costs (As % Of Assets) % ...     2.12 2.02 2.07 2.00 2.23    
Costs (As % Of Income) % ...     45.5 33.8 34.4 29.4 42.0    
Capital Adequacy Ratio %       13.8 14.3 13.3 15.6 16.2    
Net Interest Margin % ...     3.52 3.52 3.98 3.22 3.88    
Interest Income (As % Of Revenues) % ...     75.5 58.9 65.9 47.3 72.9    
Fee Income (As % Of Revenues) % ...     14.8 11.8 13.3 10.9 15.5    
Staff Cost (As % Of Total Cost) % ...     42.4 43.1 46.4 41.3 44.2    
Equity (As % Of Assets) %       11.5 11.6 9.83 10.1 10.5    
Loans (As % Of Deposits) %       99.8 99.1 102 103 89.9    
Loans (As % Assets) %       63.3 61.3 60.5 59.6 54.2    
NPLs (As % Of Loans) %       4.54 6.64 4.37 5.12 5.45    
Provisions (As % Of NPLs) %       216 141 189 185 205    
valuation                    
Market Capitalisation (End Of Period) USD mil ... ... ... ... ... 157 249 486    
Number Of Shares (Average) mil ... ... ... ... ... 390 415 440    
Share Price (End Of Period) RUB       49.8 42.0 24.5 43.7 67.0    
Earnings Per Share (EPS) RUB ... ... ... ... ... < 0.001 < 0.001 < 0.001    
Book Value Per Share RUB ... ... ... ... ... < 0.001 < 0.001 < 0.001    
Price/Earnings (P/E) ... ... ... ... ... 1,988,350 5,006,130 6,891,380    
Price/Book Value (P/BV) ... ... ... ... ... 185,898 338,232 484,319    
Earnings Per Share Growth % ... ... ... ... ... ... -29.1 11.5    
Book Value Per Share Growth % ... ... ... ... ... ... -1.88 7.19    
income statement Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                    
Interest Income RUB bil ...     27.4 30.8 38.8 50.8 51.9    
Interest Cost RUB bil ...     15.4 17.5 20.2 33.3 29.7    
Net Interest Income RUB bil ...     12.0 13.4 18.5 17.5 22.1    
Net Fee Income RUB bil ...     2.35 2.68 3.72 4.04 4.70    
Other Income RUB bil ...     1.53 6.65 5.85 15.4 3.52    
Total Revenues RUB bil ...     15.9 22.7 28.1 36.9 30.4    
Staff Cost RUB bil ...     3.06 3.31 4.48 4.47 5.63    
Depreciation RUB bil ...     1.18 1.18 1.25 1.33 1.67    
Other Cost RUB bil ...     2.97 3.19 3.93 5.04 5.44    
Operating Cost RUB bil ...     7.21 7.68 9.66 10.8 12.7    
Operating Profit RUB bil ...     8.65 15.0 18.4 26.1 17.6    
Provisions RUB bil ...     6.39 4.50 7.29 12.3 12.5    
Extra and Other Cost RUB bil ...     0.479 2.05 5.08 9.04 0    
Pre-Tax Profit RUB bil ...     1.78 8.48 6.05 4.75 5.13    
Tax RUB bil ...     0.480 1.79 1.25 1.13 0.855    
Minorities RUB bil ...     0 0 0 0 0    
Net Profit RUB bil ...     1.30 6.70 4.80 3.62 4.28    
growth rates                    
Net Interest Income Growth % ... ...   -12.0 11.6 38.4 -5.58 26.7    
Net Fee Income Growth % ... ...   14.5 14.0 38.9 8.65 16.3    
Total Revenue Growth % ... ...   -10.0 43.1 23.7 31.5 -17.8    
Operating Cost Growth % ... ...   17.7 6.47 25.8 12.2 17.5    
Operating Profit Growth % ... ...   -24.8 73.7 22.6 41.6 -32.4    
Pre-Tax Profit Growth % ... ...   -75.5 376 -28.7 -21.5 8.14    
Net Profit Growth % ... ...   -77.9 414 -28.4 -24.5 18.2    
market share                    
Market Share in Revenues % ...     0.400 0.501 0.467 0.552 0.231   ...
Market Share in Net Profit % ...     0.165 0.922 0.986 4.26 0.652   ...
Market Share in Employees % ... ... ... ... ... 0.360 0.432 ... ... ...
Market Share in Branches %       0.096 0.099 0.115 0.154 0.180   ...
balance sheet Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                    
Cash RUB bil       47.1 42.9 60.5 38.9 37.1    
Interbank Loans RUB bil       2.90 8.62 29.3 35.1 33.4    
Customer Loans RUB bil       222 251 315 335 315    
Retail Loans RUB bil       22.7 37.8 51.8 53.5 60.1    
Mortgage Loans RUB bil       11.6 20.3 29.4 35.4 42.4    
Consumer Loans RUB bil       11.1 17.5 22.4 18.1 17.7    
Corporate Loans RUB bil       224 239 292 317 294    
Debt Securities RUB bil       60.0 87.5 78.1 127 164    
Fixed Assets RUB bil       14.0 13.8 14.5 14.5 14.3    
Total Assets RUB bil       351 409 522 563 580    
Shareholders' Equity RUB bil       40.3 47.7 51.3 56.8 60.9    
Of Which Minority Interest RUB bil       0 0 0 0 0    
Liabilities RUB bil       311 362 470 506 519    
Interbank Borrowing RUB bil       52.3 70.5 103 135 132    
Customer Deposits RUB bil       223 253 308 326 350    
Retail Deposits RUB bil       101 125 156 188 187    
Corporate Deposits RUB bil       122 128 152 138 163    
Sight Deposits RUB bil       75.7 86.3 110 99.8 104    
Term Deposits RUB bil       147 167 199 226 246    
Issued Debt Securities RUB bil       33.5 36.3 45.9 39.3 26.3    
Other Liabilities RUB bil       2.46 1.77 13.3 5.54 11.5    
asset quality                    
Non-Performing Loans RUB bil       11.2 18.4 15.0 19.0 19.3    
Gross Loans RUB bil       247 277 344 370 354    
Total Provisions RUB bil       24.1 25.9 28.4 35.0 39.6    
growth rates                    
Customer Loan Growth % ...     5.94 12.8 25.7 6.33 -6.14    
Retail Loan Growth % ...     41.8 66.1 37.1 3.33 12.4    
Mortgage Loan Growth % ...     48.1 74.9 44.8 20.4 20.0    
Consumer Loan Growth % ...     35.9 56.8 28.2 -19.1 -2.45    
Corporate Loan Growth % ...     3.97 6.84 22.1 8.49 -7.13    
Total Asset Growth % ...     6.46 16.5 27.4 7.85 3.16    
Shareholders' Equity Growth % ...     0.739 18.2 7.59 10.7 7.19    
Customer Deposit Growth % ...     -1.72 13.6 21.9 5.54 7.48    
Retail Deposit Growth % ...     15.8 23.8 24.5 20.5 -0.345    
Corporate Deposit Growth % ...     -12.7 5.14 19.3 -9.81 18.2    
market share                    
Market Share in Customer Loans %       0.744 0.706 0.694 0.682 0.673   ...
Market Share in Corporate Loans % ...     1.20 1.13 1.07 1.04 1.07   ...
Market Share in Retail Loans %       0.195 0.239 0.287 0.270 0.280   ...
Market Share in Consumer Loans %       0.295 0.379 0.457 0.501 0.557   ...
Market Share in Mortgage Loans %       0.581 0.766 0.833 0.888 0.945   ...
Market Share in Total Assets %       0.754 0.755 0.714 0.731 0.785   ...
Market Share in Customer Deposits %       1.08 1.06 0.981 0.869 0.995   ...
Market Share in Retail Deposits %       0.710 0.739 0.841 0.810 0.774   ...
Market Share in Corporate Deposits %       1.26 1.18 0.896 0.723 0.992   ...
ratios Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                    
ROE % ...     3.24 15.2 9.69 6.70 7.27    
ROA % ...     0.383 1.76 1.03 0.668 0.749    
Costs (As % Of Assets) % ...     2.12 2.02 2.07 2.00 2.23    
Costs (As % Of Income) % ...     45.5 33.8 34.4 29.4 42.0    
Capital Adequacy Ratio %       13.8 14.3 13.3 15.6 16.2    
Tier 1 Ratio %       9.90 10.8 10.2 9.88 11.0    
Net Interest Margin % ...     3.52 3.52 3.98 3.22 3.88    
Interest Spread % ...     2.91 2.91 3.46 2.54 3.28    
Asset Yield % ...     8.03 8.11 8.33 9.37 9.07    
Cost Of Liabilities % ...     5.12 5.19 4.87 6.83 5.80    
Interest Income (As % Of Revenues) % ...     75.5 58.9 65.9 47.3 72.9    
Fee Income (As % Of Revenues) % ...     14.8 11.8 13.3 10.9 15.5    
Other Income (As % Of Revenues) % ...     9.66 29.3 20.8 41.7 11.6    
Cost Per Employee USD per month ...     2,978 2,956 2,330 1,540 1,765    
Cost Per Employee (Local Currency) RUB per month ...     92,496 94,167 109,060 102,902 117,821    
Staff Cost (As % Of Total Cost) % ...     42.4 43.1 46.4 41.3 44.2    
Equity (As % Of Assets) %       11.5 11.6 9.83 10.1 10.5    
Loans (As % Of Deposits) %       99.8 99.1 102 103 89.9    
Loans (As % Assets) %       63.3 61.3 60.5 59.6 54.2    
NPLs (As % Of Loans) %       4.54 6.64 4.37 5.12 5.45    
Provisions (As % Of NPLs) %       216 141 189 185 205    
Provisions (As % Of Loans) %       10.8 10.3 9.01 10.4 12.6    
Cost of Provisions (As % Of Loans) % ...     2.96 1.90 2.57 3.78 3.84    
other data Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                    
Branches       41.0 43.0 48.0 57.0 61.0    
Employees       2,756 2,929 3,421 3,623 3,981    
ATMs       547 600 658 728 781    
Clients mil       1.28 1.40 1.46 1.66 1.82    
Sight (As % Of Customer Deposits) %       34.0 34.1 35.6 30.6 29.8    
Risk-Weighted Assets RUB bil ... ... ... ... ... ... ... ... ...  

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Bank Saint Petersburg's branches fell 4.41% yoy to 65.0 in 1Q2019

By Helgi Analytics - August 16, 2019

Bank Saint Petersburg employed 3,939 persons in 2019-03-31, up 2.05% compared to the previous year. Historically, the bank's workforce hit an all time high of 4,133 persons in 2017-12-31 and an all time low of 2,263 in 2009-12-31. The bank operated a network o...

Bank Saint Petersburg's capital adequacy ratio rose 6.47% yoy to 17.6% in 1Q2019

By Helgi Analytics - August 16, 2019

Bank Saint Petersburg's capital adequacy ratio reached 17.6% at the end of first quarter of 2019, up from 17.2% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 17.8% in 3Q2017 and an all time low of 12.5% in 2Q2...

Bank Saint Petersburg's net profit fell 30.2% yoy to RUB 1.28 bil in 1Q2019

By Helgi Analytics - August 16, 2019

Bank Saint Petersburg made a net profit of RUB 1.28 bil under revenues of RUB 7.28 bil in the first quarter of 2019, down 30.2% and up 0.002% respectively when compared to the same period last year. Historically, the bank’s net profit reached an all time ...

Bank Saint Petersburg's net interest margin rose 5.52% yoy to 3.73% in 1Q2019

By Helgi Analytics - August 16, 2019

Bank Saint Petersburg's net interest margin amounted to 3.73% in the first quarter of 2019, down from 3.98% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 5.28% in 1Q2010 and an all time low of...

Bank Saint Petersburg's market capitalisation (end of period) rose 3.59% to USD 390 mil in 1Q2019

By Helgi Analytics - October 23, 2019

Bank Saint Petersburg stock traded at JPY 2,137 per share at the end of first quarter of 2019 implying a market capitalization of USD 4,383 mil. Over the last five years, the stock has depreciated by 4.15 implying an annual average growth of -0.845% In ab...

Bank Saint Petersburg's net interest income rose 15.5% yoy to RUB 6.18 bil in 1Q2019

By Helgi Analytics - August 16, 2019

Bank Saint Petersburg generated total banking revenues of RUB 7.28 bil in the first quarter of 2019, up 0.002% when compared to the same period of last year and down 16.1% when compared to the previous quarter. Historically, the bank’s revenues co...

Bank Saint Petersburg's corporate loans rose 4.48% yoy to RUB 246 bil in 1Q2019

By Helgi Analytics - August 16, 2019

Bank Saint Petersburg's loans reached RUB 372 bil in the first quarter of 2019, down from RUB 375 bil when compared to the previous quarter and up from RUB 346 bil when compared to the same period of last year. Historically, the bank’s loans reached...

Bank Saint Petersburg's costs (as % of assets) rose 9.84% yoy to 2.15% in 1Q2019

By Helgi Analytics - August 16, 2019

Bank Saint Petersburg's cost to income ratio reached 48.8% in the first quarter of 2019, up from 37.7% when compared to the previous quarter. Historically, the bank’s costs reached an all time high of 48.8% of income in 1Q2019 and an all time low of 19.4% in...

Bank Saint Petersburg's share price (end of period) remain unchanged yoy at RUB 54.5 in 1Q2019

By Helgi Analytics - August 16, 2019

Bank Saint Petersburg stock traded at RUB 54.5 per share at the end of first quarter of 2019 implying a market capitalization of USD 390 mil. Over the last five years, the stock has appreciated by % implying an annual average growth of 0 %. In absolute terms, the val...

Bank Saint Petersburg's equity (as % of assets) fell 0.101% yoy to 11.7% in 1Q2019

By Helgi Analytics - October 7, 2019

Bank Saint Petersburg's Equity reached 5.14% of total assets in the 1Q2019, up from 4.97% for the previous year. As a share of net customer loans, the ratio amounted to 7.96% at the end of the first quarter of 2019. ...

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Finance

Bank Saint Petersburg has been growing its revenues and asset by 7.91% and 10.5% a year on average in the last 5 years. Its loans and deposits have grown by 6.19% and 9.95% a year during that time and loans to deposits ratio reached 83.3% at the end of 2018. The company achieved an average return on equity of 9.43% in the last five years with net profit growing 5.95% a year on average. In terms of operating efficiency, its cost to income ratio reached 39.3% in 2018, compared to 37.3% average in the last five years.

Equity represented 11.2% of total assets or 22.3% of loans at the end of 2018. Bank Saint Petersburg's non-performing loans were 10.8% of total loans while provisions covered some 90.2% of NPLs at the end of 2018.

Valuation

Bank Saint Petersburg stock traded at RUB 54.4 per share at the end of 2018 resulting in a market capitalization of USD 377 mil. Over the previous five years, stock price rose by 29.4% or 5.29% a year on average. That’s compared to an average ROE of 9.43% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 2,931,250x and price to book value (PBV) of 333,340x in 2018.