Bank Saint Petersburg Announced Share Buyback

On July 31, 2019 the Supervisory Board of Bank Saint Petersburg has resolved to acquire 12,000,000 ordinary shares. The approved price of acquisition is RUB 53.5 per share. Shareholders' offers may be submitted to the Bank from September 6, 2019 to October 7, 2019.

This decision was made in line with the Capitalization Growth Action Plan, along with new Dividend Policy approved in 2018 and share buyback conducted in 2018.

The Bank’s Supervisory board has also approved amendments to the Bank’s Strategy 2018-2020. This document confirms the following additional strategic goals:

  1. To become the best private bank for corporates in the regions of operation;
  2. To become one of the leaders in terms of online sales and operations, while maintaining a position of the most efficient digital classic Russian bank;
  3. To become one of the leaders on the EXIM market.

The Strategy also targets more active lending growth, implying annual average loan portfolio increase by at least 10%.

Tags: IR News