All news
BSPb: RSBU 1P24
Bank Saint Petersburg published a report under RAS for the first half of this year.
Evil analyst. People who only see net profit have already sprinkled ashes on their heads. They say, how can profit fall? Horrible! Shh, let's take a closer look.
I) Let's start with the bank's comments. • The cost of providing loans in the first half of 2024 amounted to RUB 2.3 billion. The cost of risk (CoR) for the first half of 2024 is 0.7%, which is within the bank's previously published forecast (about 1%). The increase in this indicator to 1.1% in the second quarter of 2024 is due to preferential repayment of loans to large companies. In the financial statements under RAS, this action is reflected as a decrease in net interest income. In accordance with IFRS and for the purposes of this press release, these costs are included in risk costs.
I think we are talking about loans from Rusnano. (It seems that in the post-Chubai era they are not doing very well.) I have already mentioned trading income, firstly, its extreme volatility, and secondly, the current situation. The values are slightly below historical averages adjusted for capital growth. Well, that's normal. Let's see how the core business is doing at record levels in the first quarter (even lower than in the fourth quarter on the 23rd). This is slightly lower than, for example, in the fourth quarter. Comparing it with 23 is pointless. Because there was excess income then. The levels will probably be higher, but this will happen under control. I will leave the forecast for annual profit at approximately 55 billion rubles.