Bank 'Saint Petersburg' Shares Surge as Profit Rises, Government Backs Buyback

Shares in Bank 'Saint Petersburg' soar to new heights. Government backing and a major buyback program promise to boost liquidity further.

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2025 October 8 . 2:00 PM

1 min read

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Bank 'Saint Petersburg' Shares Surge as Profit Rises, Government Backs Buyback

Bank 'Saint Petersburg' has seen a significant boost in its share prices, with preferred shares surging by 9.6% to reach 61.9 rubles at their peak. Meanwhile, ordinary shares hit a record high of 347.5 rubles, marking a 347.5-ruble increase. The bank has also reported a 1.4% increase in net profit under IFRS for the first half of 2025, totaling 24.7 billion rubles. The Russian government has pledged 5 billion rubles to support the bank's share purchases by May 20, 2026.

The bank's share buyback program is set to run from October 6, 2025, to May 20, 2026. The bank has allocated up to 5 billion rubles for this purpose. Despite a 19.2% year-on-year decrease in net profit under IFRS in the second quarter to 9.1 billion rubles, the bank remains committed to enhancing liquidity through regular share buybacks, as approved by its Supervisory Board. The repurchased shares will be canceled following the board's twice-yearly reviews.

Bank 'Saint Petersburg' continues to strengthen its financial position, with robust share price growth and government support. The upcoming share buyback program, backed by a substantial budget, is expected to further bolster the bank's liquidity and overall performance.