Bank Saint Petersburg approved the Capitalization Growth Action Plan
On 25 October the Supervisory Board of Bank Saint Petersburg approved the Capitalization Growth Action Plan aimed to reach one of the principal strategic goals – market capitalization tripling by the end of 2020.
The comprehensive program implies the allocation of the Bank’s excessive capital in case of RAS Tier 1 capital adequacy ratio (N1.2) is over 9.75%.
The Supervisory Board is planning to consider an option of share buyback depending on the share price and availability of excessive capital at least twice a year.
The Bank confirms its intention to cancel the acquired shares.