Bank Saint Petersburg could raise retail to 20% of loan book by 2018
ST. PETERSBURG. Dec 17 (Interfax) - Bank Saint Petersburg plans to boost retail loans to 20% of the overall loan book by 2018, from 12% at present, the bank's deputy CEO, Konstantin Balandin, told Interfax.
"We'll continue to develop retail more aggressively than corporate. The retail loan portfolio will grow more quickly, and its share of the overall portfolio should be 20% by the end of 2017, [compared with] just over 12% today," Balandin said regarding the bank's 2014-2017 strategy.
He said the bank's assets would reach approximately 600 billion rubles and loan portfolio around 400 billion rubles by the end of 2017. "Our guidance for return on equity is 15%," he said.
The bank changed its product line in the retail segment this year. It introduced new service standards and started to sell products to retail customers more aggressively. "So we expect the retail loan portfolio to grow 70% this year. It will continue to grow more quickly than corporate. We have a low retail base, and a lot of services that we want to sell to our retail customers," Balandin said.
Bank Saint Petersburg was Russia's 14th largest bank by assets and 38th by retail loans, according to the Interfax-100 ranking at the end of Q3 2013.
