Rus News Journal

St.-Petersburg against the market

the Bank grows, despite liquidity crisis

Following the results of a half-year bank St.-Petersburg again has shown the results which have surpassed expectations of the market. Its actives, according to the reporting on MSFO, have grown on 31 %, and net profit - in 2,1 times. Predictably, the bank declared carrying over of terms of carrying out SPO for 2009. The requirement for capital increase will be satisfied at the expense of high profitability and subordinirovannyh credits. In the future St.-Petersburg does not exclude participation in transaction M &A.

According to the reporting data on MSFO, the bank net profit for the first half of the year has increased in 2,1 times in comparison with the corresponding period of last year, to 1,755 mlrd rbl., the pure percentage margin has increased to 6 % in comparison with 5,5 % in 2007. Actives of bank from the beginning of 2008 have grown on 31 %, to 165,7 mlrd rbl. Profitability of the capital (ROE) has made 22,1 % against 20,6 % for 2007. The relation of costs to incomes was reduced to 4,5 items of the item in comparison with an average for 2007 an indicator and has made 35,7 %. The credit portfolio of bank for six months 2008 has grown on 30 %, to 119,6 mlrd rbl. Own means have increased by 11 %, to 16,7 mlrd rbl.

to Support high level of liquidity to bank the big inflow of means of clients has allowed. For half a year they have increased by 35,4 %, to 120,140 mlrd rbl., having made 85 % of obligations. On volume of the involved deposits in the market of Petersburg the market share of bank makes 11 %. Thus involved means basically have been placed in operation on purchase of securities with a condition of the subsequent return sale, analyst IK " marks; BFA the Novel Dzugaev. the Bank is rather careful with a plus in management of liquidity, without supposing financing of long operations by short passives - he speaks. According to an analyst the WHALE of Finans Marias Kalvarsky, great volume of client means in bank obligations speaks about low dependence of bank on the market of capitals, on the other hand, the high share of deposits of physical persons can become certain risk for bank in a current situation when it is impossible to exclude up to the end possibility of outflow of private deposits .

As has informed yesterday during telephone conference the assistant to preboard of bank Konstantin Balandin, in the markets of the capital the bank for the last six months has involved more than 200 million dollars, and in October-November is going to close two more transactions on attraction syndicated and subordinirovannogo credits for 100 million dollars everyone. In following year St.-Petersburg is going to involve still an order of 300 million dollars for refinancing of the debts, including having let out eurobonds on 125 million dollars

The bank shows good results in respect of increase in a percentage margin and control over expenses. On the one hand, it actively raised rates under credits, with another - has spent a training for a new profession of incomes that was reflected in margin growth - the analyst " notices; Sovlinka Olga Belenkaja.

yesterday the bank also has informed on carrying over for 2009 of terms of carrying out SPO that, according to experts, obosnovanno before situation normalisation in the market. Besides, in bank daily have informed that St.-Petersburg does not exclude in the future of participation in any transaction M &A though now does not conduct any negotiations in the given sphere. Some representatives of bank community of Petersburg have informed daily that the bank carries on negotiations for bank purchase the Union . However, according to the assistant to preboard of bank the Union Alexey Rukavishnikov, banks have a number of joint projects, but they have not something in common with business sale.

The Price of actions of bank St.-Petersburg it is less subject to influence of a negative background. From the beginning of 2008 a branch index RTS - the Finance has decreased twice, to 309,4. The average price of actions of bank St.-Petersburg for the same period has decreased only on 9 %, to 94,7 rbl. for the action.