Bank Saint Petersburg boosts RAS assets by 13.5% in 2010
ST. PETERSBURG. Feb 1 (Interfax) - Bank Saint Petersburg increased its assets according to Russian accounting standards (RAS) by 13.5% to 271.6 billion rubles in 2010, the bank said in a press release.
Bank Saint Petersburg's loan portfolio in 2010 expanded by 18.6% to 196.8 billion rubles, including total corporate loans, up 18.4% to 178.6 billion rubles and consumer loans, up 20.2% to 18.2 billion rubles.
The bank's total provisions for 2010 went up by 42.5% to 19.2 billion rubles on January 1, 2011. The press release said that the bank had reduced total provision transfers in the fourth quarter to 621.4 million rubles in comparison with 1.9 billion rubles in the third quarter.
The rate of overdue loans in the bank's portfolio came to 4.13% on January 1, 2011 compared to 4.61% on the same date in 2010. Overdue loan provisions came to 236.7%.
Total client funds raised by the bank, including issue debts, increased by 16.7% to 216.6 billion rubles in 2010, including funds from legal entities, up 14.9% to 145.3 billion rubles and individual funds, up 20.6% to 71.3 billion rubles.
The bank's equity went up by 1.4% to 34.5 billion rubles for 2010.
It was earlier reported that Bank Saint Petersburg posted 2.097 billion rubles in RAS net profit for 2010, up 49% from 1.407 billion rubles posted for 2009.
The main beneficiary for the bank is its head Alexander Savelyev with 29.9% of the common shares. He also owns a 19.36% stake through OOO Systems Technologies, which holds 19.36% in the bank. Bank Saint Petersburg's free float comes to 25.4% of its charter capital.
Bank Saint Petersburg was 17th biggest bank in Russia at the end of the third quarter of 2010 according to the Interfax-100, compiled by the Interfax Center for Economic Analysis (CEA).