Bank Saint Petersburg presents the Strategy 2021-2023 during Investor Day
On March 19th Bank Saint Petersburg hosted its annual Investor Day for the first time in online format, which became a communication market standard over the last year. During the presentation Bank’s top management summed 2020 performance and outlined main 2021 growth drivers, as well as presented new Strategy 2021-2023.
During the Investor Day the speakers outlined key strategic priorities:
- Market leadership in EXIM operations, implying doubling EXIM F&C and increasing customer base by 25% over three-year period;
- Significant growth in SME business with aggressive growth plans in Moscow region, implying 85% customer base growth (including quintupling in Moscow) with 25% SME revenues growth, including tripling revenues in Moscow region;
- Large corporate business position strengthening through activization in regions of operation. Loan portfolio 3-year growth is set at 30%;
- In terms of retail business, the Bank prioritizes growth of high income-generating customer base through increasing penetration rate in existing customer base with consumer lending thanks to active cross-selling initiatives. The Bank also aims to increase revenues per active customer by 15%;
- Remote model of customer acquisition and service will allow the Bank to operate in the new regions without the need for physical presence, as well as to significantly increase digital revenues.
ROE and TSR (total shareholder return) are established as key strategic targets. The Bank strives to increase shareholder value through both share price increase and dividend yield, aiming to beat the market (MOEX index) in terms of total shareholder return.
2023 Strategy implementation will allow the Bank to reach such milestones as loan portfolio of over RUB 600 bn and revenues of RUB 50 bn with ROAE of 15%.
Comments by the First Deputy Chairman of the Board, CEO, Pavel Filimonenok:
“2020 not only posed new challenges for us, but also unlocked new prospects, ergo, new strategic goals. Over the following three years we will focus on the areas of business where the Bank holds key competitive advantages and also sees the growth potential – including SME business, large corporate business in St. Petersburg and in Moscow, as well as in the new regions, and, of course, retail digital business”.
Investor Day materials are available via this link.