Bank Saint Petersburg Approved Strategy 2018–2020
On February 1, the Supervisory Board of Bank Saint Petersburg approved the Bank’s Strategy for 2018–2020 and reviewed its preliminary FY 2017 RAS financial results as well as other issues.
The newly adopted strategy sets out the following main strategic goals: to achieve sustainable ROAE of 15%+ while remaining among the top 20 Russian banks in terms of assets, triple the Bank’s market capitalization and increase revenues from transactions by 50%. The key drivers to achieve these goals will be transaction banking development and mass business expansion in the corporate segment.
Mr. Alexander Savelyev, Chairman of the Management Board and member of the Supervisory Board, commented on the Strategy 2018 – 2020:
“This is the first time we are aiming at such an ambitious strategic goal as tripled market cap. I am sure that an increased return on equity will make this goal viable. The Bank will be striving to maximize its business scale in those areas where we enjoy the competitive edge and see a considerable growth potential, namely, mass corporate and retail business in St. Petersburg”.