Estimated 2008 Financial Results under RAS
In 2008 estimated assets of Bank Saint Petersburg under RAS amount to RUR 200 billion
Estimated assets of Bank Saint Petersburg for 2008 under RAS amount to RUR 200 billion. In 2008 assets grew by 56%. The growth rate exceeded the average asset growth rate in the Russian banking sector and in spite of the challenging market conditions is completely on a par with the management’s forecasts announced at the beginning of the year.
Estimated balance sheet income for 2008 increased by 25% to RUR 3.8 billion compared to balance sheet income for 2007.
At the end of December the Bank raised the 6-year EUR 36.7 million subordinated loan from its shareholders. The loan has been approved by the Central Bank of Russia as an additional capital which allowed Bank Saint Petersburg to increase its total capital to expected RUR 23.3 billion.
«We’ve met all the targets which were set by our shareholders and regard the uneasy year 2008 successful for our Bank,” – Alexander Savelyev, Chairman of the Management Board, comments. – “The subordinated loan from our shareholders is the best sign of their confidence in the Bank’s prospects”.
In 2008 the number of Bank’s corporate clients increased by 8 000 and reached 34 000 corporates; the number of retail customers increased by 180 000 and reached 770 000 individuals. 20 000 clients started using Internet-Bank. The Bank set into service more than 100 new ATMs; as at the end of 2008 the Bank’s card network comprised of 405 ATMs. In 2008 the number of cards issued by the Bank exceeded 580 000.
The most significant events on the capital market were the raising of USD 100 million syndicated loan (the EBRD acted as a lead arranger) and USD 35 million bilateral loan from KfW IPEX-Bank. In aggregate in 2008 Bank Saint Petersburg attracted more than USD 250 million on the capital markets.
In 2008 Bank launched Internet-Bank for corporate customers and the portable pocket computer version of its Internet-Bank system for retail customers. At the end of year a reserve data processing centre was put into operation. It enhanced security of Bank’s IT systems and IT transportation channels.