Bank Saint Petersburg announced earnings results for the fourth quarter and full year of 2017. For the quarter, the company reported net interest income in the fourth quarter, which is almost RUB 6 billion, and this is a 10% increase quarter-on-quarter. Revenues were RUB 8.5 billion. Net income for the fourth quarter is RUB 1.7 billion, which is 40% higher than in fourth quarter 2016. Return on equity was 9.9% compared to 8.2% a year ago.

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.