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General information

Sovcombank is a Russian privately owned universal bank included in the list of 13 systemically important Russian banks. In terms of assets, it ranks 9th among Russian banks

Good financial results growth rate 351.5% (average between last period year over year growth for revenue and Net Income), there is acceleration compared to average historical growth rates (37.0%)
Dividend yield for the last twelve months 3.5%
Share price is 12.7% higher than minimum and 50.0% lower than maximum for the last 3 years
The company is undervalued by P/E LTM multiple compared to target level (3.0x vs
)
Fundamental value created in LTM (estimate)
Taking into account the impact of the key rate 14.0% on the change in financial parameters: EBITDA adjustment is 0 mln rub as NetDebt * (expected key rate - 3 years average 0.0%) / 2, expected EBITDA adjusted for key rate increases is 128 688 mln rub, expected mult is 1.8x, target mult is 4.2x, potential is +134.9%

Key Financials (Download financials)

Ticker: SVCB

Share price, RUB: (+1.1%)10.14

year average price 11.79

year start price 13.02 2025-10-19

max close price 14.12 2026-02-20

min close price 9.00 2026-07-17

current price 10.14 2026-10-18

Common stocks: 22 516 228 905

Dividend Yield: 3.5%

P / E LTM: 3.0x

P / E annualized: 2.2x

Last revenue growth (y/y): 195.1%

Last growth of Net Income (y/y): 200.0%

Historical revenue growth: 36.4%

Historical growth of Net Income: 37.6%

Target P/E (hist percentile):

Express share price potential:

Fundamental value created in LTM:

Потенциал с учетом ускорения/замедления

	Mult Upside	+41.0%
	FCF Creation	0.0%
	Growth	+197.5%
	Growth Corr	+80.3%

	Sum	+318.8%

P/E mutiple calculation

Market Cap (m RUB): 228 315

Net Profit (m RUB): 77 235

P / E LTM: 3.0x

Average daily trading volume for the week, RUB mln: 520

[auto extract] P / E 2.8x

[auto extract] P / E ann-d2.2x

[auto extract] P / B 0.5x

Рассчитаны в тестовом режиме, annualized:

ROE (Return on equity) 24.1%

ROA (Return on assets) 2.3%

CIR (Cost/income ratio) 94.4%

Revenue and Net Income

Quarterly values (m RUB)

Change (y/y)

Share price and dividends (Download history)

Share price

Payment RUB per share

Multiple and potential

EV / LTM Net Income and 50% percentile

Potential dynamics

Daily trade volumes

Millions of RUB

P/B and P/E multipliers

P / B

P / E

Фьючерсы

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Название	Инструмент	Дата экспирации	Последняя цена	За день	Дневной объем млн руб	Цена акции	Контанго / бэквордация	Annualized
Фьючерсный контракт SVCB-12.26	SCZ6	2026-12-18	1044.00	+0.5%	102.4	10.14	+3.0%	+19.1%
Фьючерсный контракт SVCB-3.27	SCH7	2027-03-19	1077.00	+0.6%	1.2	10.14	+6.2%	+15.6%

MSFO data *The values are shown in mln. The % change shows the difference from the same period last year

View as Pivot Table Export as Pivot Table (xlsx)

Income (financial)

формула расчета Revenue = PercentIncomeNet + CommissionIncome

Q	PercentIncome	PercentExpense	PercentIncomeNet	ReserveForCreditLoss	PercentIncomeNetAfterReserve	CommissionIncome	Revenue	CommissionExpense	CommissionIncomeNet	OperationsWithFinancialInstruments	OtherOperatingIncomeNet	IncomeNonCoreNet	AdministrativeExpense	IncomeBeforeTax	IncomeTax	IncomeNet	IncomeNetRegular	IncomeNetIrregular


2026 q2		-112 903-23%	64 775+69%			16 999+18%	81 774+55%	-3 067+9%	13 932+20%	-772<-100%	15 025-31%	-77 205+1%	32 929>+200%	-7 353>+200%	25 576>+200%	26 176<-100%	-600<-100%
2026 q1	179 992-2%	-120 028-19%	59 964+72%	-23 150+93%	36 814+61%	14 868+23%	74 832+59%	-3 3080%	11 560+31%	5 288<-100%	22 766-24%	-83 178+8%	24 711+75%	-5 009>+200%	19 702+57%	15 486-40%	4 216<-100%
2025 q4	188 264+5%	-132 551-4%	55 713+38%	-16 801-26%	38 912+119%	17 620+24%	73 333+34%	-2 555>+200%	15 065+6%	-203<-100%	19 816-31%	-86 113+9%	23 000+22%	-5 158<-100%	17 842-14%	17 627+63%	215-98%
2025 q3	190 900+22%	-143 287+22%	47 613+20%	-26 864+42%	20 7490%	14 879+13%	62 492+18%	-1 482-57%	13 397+39%	12 531>+200%	30 746+15%	-77 724+14%	23 017+28%	-5 170>+200%	17 8470%	8 131-48%	9 716>+200%
2025 q2	185 400+29%	-147 095+45%	38 305-10%	-25 047+65%	13 258-51%	14 454+14%	52 759-4%	-2 816+16%	11 638+13%	7 168<-100%	21 696+29%	-76 123+20%	6 379-61%	-1 372-49%	5 007-63%	-619<-100%	5 626<-100%
2025 q1	183 784+49%	-148 896+70%	34 888-2%	-12 009-30%	22 879+24%	12 107+41%	46 995+6%	-3 313+4%	8 794+63%	-14 896<-100%	29 888-37%	-77 113+44%	14 113-47%	-1 577+11%	12 536-50%	25 768+47%	-13 232<-100%
2024 q4 ( 9392 , 9880 )	178 765+11%	-138 319+100%	40 446+14%	-22 721+44%	17 729-45%	14 199+75%	54 645+26%	-53-95%	14 146+102%	10 518>+200%	28 928>+200%	-79 230+40%	18 867+22%	1 847-42%	20 714+11%	10 824-17%	9 890+75%
2024 q3	156 606+94%	-116 973+168%	39 633+7%	-18 890+131%	20 739-28%	13 115+41%	52 748+14%	-3 483+55%	9 632+36%	2 129-73%	26 622+29%	-67 959+53%	18 020-42%	-217-97%	17 803-28%	15 700-15%	2 103-66%
2024 q2	143 842>+200%	-101 414>+200%	42 428+23%	-15 136+63%	27 292+8%	12 716+42%	55 144+27%	-2 432-2%	10 284+59%	-3 326<-100%	16 875-37%	-63 398+41%	16 388-54%	-2 685-57%	13 703-53%	16 484+132%	-2 781<-100%
2024 q1	123 269+95%	-87 715+179%	35 554+11%	-17 160<-100%	18 394-8%	8 580+1%	44 134+9%	-3 191+45%	5 389-14%	7 960-58%	47 089+100%	-53 368+26%	26 433-5%	-1 419-73%	25 014+11%	17 481+147%	7 533-51%
2023 q4	161 245<-100%	-69 154<-100%	35 375<-100%	-15 813>+200%	32 245<-100%	8 098>+200%	43 473<-100%	-1 108<-100%	6 990+166%	3 427<-100%	4 699<-100%	-56 767<-100%	15 444<-100%	3 203-44%	18 647<-100%	12 980>+200%	5 667<-100%
2023 q3	80 607-62%	-43 629-59%	36 978-64%	-8 181-72%	28 797-61%	9 308-65%	46 286-64%	-2 245-68%	7 063-64%	7 859-85%	20 581-5%	-44 414-33%	31 272-67%	-6 532-63%	24 740-68%	18 523-43%	6 217-86%
2023 q2	9 530-93%	-31 644-50%	34 602-48%	-9 263-56%	25 339-44%	8 957-48%	43 559-48%	-2 487-47%	6 470-48%	26 629-42%	26 634+151%	-44 962+3%	35 256-44%	-6 186-46%	29 070-44%	7 113-50%	21 957-41%
2023 q1	63 330	-31 423	31 907	744	19 968	8 503	40 410	-2 204	6 299	19 057	23 572	-42 396	27 751	-5 172	22 579	7 074	15 505
2022 q4	-47 164<-100%	13 358<-100%	-33 806<-100%	-1 679-79%	-35 485<-100%	1 522-87%	-32 285<-100%	1 104<-100%	2 625-70%	-64 618<-100%	-10 930<-100%	16 827<-100%	-56 031<-100%	5 766<-100%	-71 188<-100%	3 324-71%	-1 313<-100%
2022 q3	210 505>+200%	-106 696>+200%	103 809>+200%	-29 383>+200%	74 426>+200%	26 446+133%	130 255>+200%	-6 936+177%	19 510+120%	54 010<-100%	21 591>+200%	-65 882>+200%	94 279>+200%	-17 890>+200%	76 389>+200%	32 628+152%	43 761<-100%
2022 q2	129 898	-63 067	66 831	-21 202	45 629	17 138	83 969	-4 691	12 447	45 706	10 631	-43 625	63 007	-11 358	51 649	14 182	37 467
2022 q1
2021 q4	45 774+38%	-16 750+26%	29 023+45%	-7 909+51%	21 114+43%	11 374+42%	40 397+45%	-2 503+22%	8 871+49%	2 263+112%	2 168>+200%	-16 193+50%	26 133+56%	-2 838+21%	12 427+27%	11 351+24%	1 076+73%
2021 q3	45 774+38%	-16 750+26%	29 023+45%	-7 909+51%	21 114+43%	11 374+42%	40 397+45%	-2 503+22%	8 871+49%	-1 002<-100%	2 168>+200%	-16 193+50%	22 868+36%	-2 838+21%	12 427+27%	12 971+42%	-544<-100%
2020 q4	33 280+30%	-13 327+13%	19 953+45%	-5 234+167%	14 719+25%	7 997-2%	27 950+27%	-2 047+6%	5 950-5%	1 065-35%	618+77%	-10 789+10%	16 797+38%	-2 337+14%	9 800+30%	9 179+41%	621-39%
2020 q3	33 280	-13 327	19 953	-5 234	14 719	7 997	27 950	-2 047	5 950	1 093	618	-10 789	16 825	-2 337	9 800	9 164	637
2019 q4	25 530	-11 763	13 768	-1 960	11 808	8 160	21 927	-1 923	6 237	1 647	350	-9 818	12 183	-2 046	7 536	6 517	1 019

Balance

Q	Total equity	Total assets	PortfolioCredit	PortfolioBonds	Deposits


2026 q2	423 678+20%	4 485 318+14%	3 005 728+11%	424 217-22%	3 236 582+12%
2026 q1	406 289+15%	4 194 538+8%	2 856 639+9%	434 818-19%	3 005 028+6%
2025 q4	389 081+12%	4 520 011+12%	3 048 204+14%	372 780-36%	3 428 370+13%
2025 q3	367 864+17%	4 311 860+13%	2 869 572+16%	513 563+12%	3 170 567+13%
2025 q2	353 802+17%	3 918 282+3%	2 708 185+14%	545 787+18%	2 901 208+2%
2025 q1	352 065+18%	3 875 516+7%	2 620 055+17%	536 604+17%	2 826 322+4%
2024 q4 ( 9392 , 9880 )	348 077+33%	4 046 267+27%	2 663 991+41%	581 054+2%	3 041 259+22%
2024 q3	313 190+36%	3 815 190+37%	2 473 853+44%	457 066-17%	2 804 824+28%
2024 q2	302 948+42%	3 794 902+60%	2 367 822+55%	462 977-13%	2 851 047+53%
2024 q1	299 314+63%	3 614 994+59%	2 234 698+54%	459 638-19%	2 726 364+51%
2023 q4	262 649+51%	3 188 985+45%	1 894 537+37%	567 631+7%	2 500 207+48%
2023 q3	230 692	2 790 544	1 722 208	550 527	2 199 217
2023 q2	212 858	2 372 511	1 526 932	533 264	1 859 496
2023 q1	184 169	2 271 673	1 447 571	565 965	1 808 528
2022 q4	173 693-12%	2 191 786+4%	1 386 924+18%	531 908+59%	1 687 828+19%
2022 q3
2022 q2
2022 q1
2021 q4	196 353+23%	2 111 556+42%	1 177 332+69%	333 744-22%	1 418 983+42%
2021 q3			1 177 332+69%	135 983+28%	1 418 983+42%
2020 q4	160 043+15%	1 483 360+31%	697 268+27%	426 235>+200%	998 593+29%
2020 q3			697 268	105 966	998 593
2019 q4	139 084	1 135 194	548 933	50 179	774 038

Cashflow

Q	Operating cashflow	Investing cashflow	Financial cashflow


2026 q2
2026 q1
2025 q4
2025 q3
2025 q2
2025 q1	-94 105<-100%	-14 185<-100%	-4 845+115%
2024 q4 ( 9392 , 9880 )	12 093+44%	1 202<-100%	1 402<-100%
2024 q3	-16 041	898	-556
2024 q2
2024 q1	39 361	289	-2 250
2023 q4	8 425	-368	-75
2023 q3
2023 q2
2023 q1
2022 q4
2022 q3
2022 q2
2022 q1
2021 q4	18 005<-100%	-1 987>+200%	9+100%
2021 q3	18 005<-100%	-1 987>+200%	9<-100%
2020 q4	-5 799<-100%	-271-6%	00%
2020 q3	-5 799	-271	-1 303
2019 q4	16 445	-288	0

RSBU data *The values are shown in mln. The % change shows the difference from the same period last year

View as Pivot Table Export as Pivot Table (xlsx)

Income

Q	Revenue	Net income


2026 q2
2025 q4
2025 q3
2025 q2
2025 q1
2024 q4
2024 q3
2024 q2
2023 q4
2023 q3
2023 q2

Balance

Q	Total equity	Total assets	PortfolioCredit	PortfolioBonds	Deposits


2026 q2
2025 q4
2025 q3
2025 q2
2025 q1
2024 q4
2024 q3
2024 q2
2023 q4
2023 q3
2023 q2

More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company

📊 Фундаментальная аналитика SVCB на Frontier — мультипликаторы, финансы, дивиденды, потенциал

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.