The history and plans of general budget expenditures, expressed in simple and relative annual figures.

The M2 monetary aggregate rose to 19.4% in September.

Raising the Central Bank's key rate to 20% would be quite appropriate.

Amid reports of record profits in the banking sector, people do not notice the growing problems with capital adequacy, which can be seen in the graph below.

Budget expenses began to creep downward.

Company has strong financial results and we can even suppose that dividends for the 24th year will amount to about 1000 rubles.

Historical dividends with their linear approximation are on

Figure 1.

Lukoil's ascent to the financial Olympus began simultaneously with the devaluation of the ruble.

Thus, further success also depends on this.

Strict FCF an ... Читать дальше »

The M2 monetary aggregate remains above 18% in August.

Sber in the first half of the year 24.

I think that many of those who give out comments about the success of Sber are looking only in one direction, which is actually not one.

Other remarkable successes accompany the growth of loans issued and profits received.

The adequacy of equity is reduced to the minimum value for the observed period.

Figure 1.

Liquid assets on the balance sheet ha ... Читать дальше »

The annual growth rate of the M2 monetary aggregate remained above 18 percent in July.

The company has the same situation as Severstal. Incomes are also not growing.

Figure 1.

But the company prefers to reduce liability rather than pay large dividends. 

Figure 2.

Dividends have a good correlation with the “strict FCF” and this indicates a good financial management when the company does not want to increase obligations in order to solve all problems in this way.

... Читать дальше »

Operating cash flow has stopped growing, and this limits the possibility of dividends.

Figure 1.

The last number in Figure 1 is the forecast.

Dividends at the moment look like this.

Figure 2.

This is not rich, if you take the average.

Then we can compare the company's value us ... Читать дальше »