Bank Saint Petersburg Announces Earnings Results for the Fourth Quarter and Full Year of 2017; Provides Earnings Guidance for the Year 2018
For the year, the company reported net income of RUB 7.5 billion, which is a 75% increase compared to RUB 4.3 billion earned in 2016. It corresponds to 11.4% ROE for full year guidance. Net interest income was RUB 20.5 billion, which is minus 7% compared to 2016. Revenues were RUB 33.2 billion, which is a 7% growth. ROE was 11.37% compared to 7.3% a year ago.
The company expects it to boost return on average equity into the range of 12% to 14% for the year 2018. Fees and commission is a key source of growth so far of the company's revenues, and it is going to continue like that. And the company expects it to grow in double digits in 2018, probably like 15% to 17% full year figures.