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Sberbank increased 11-month RAS net profit by 21.6%

RAS net profit of Sberbank for 11 months 2018 (non-consolidated data, calculated in accordance with Sberbank`s internal methodology) grew by 21.6% to RUB 758.858 billion. In particular, profit for November amounted to RUB 73.3 billion, the bank informed.

EBIT for 11 months of 2018 reached RUB 934 billion, net interest income of the bank increased by 3.9% to RUB 1.144 trillion, net fee & commission income grew by 19.8% to RUB 384 billion.

Operating expenses increased by 6.1%, which is below the bank's operating income before provisions (9.2%). The ratio of operating expenses to operating income improved from 30.1% to 29.3% in January-November 2017.

Total provision charges for 11 months of 2018 reached RUB 238 billion decreasing by 15.2% year-on-year. As of December 1, 2018, loan-loss provisions exceeded the overdue loans 2.7 times.

Assets decreased by 1.6% to RUB 26.3 trillion in November. The securities portfolio increased by RUB 325 billion in November (-12.1%).

In November, the bank lent RUB 1.3 trillion to clients, including RUB 290 billion to individuals, more than RUB 1 trillion to legal entities.

Sberbank of Russia (tax number: 7707083893) is the largest bank in Russia, Central and Eastern Europe. The Bank is the principal lender to the Russian economy and has the highest share in the market of deposits.

The bank's authorized capital is RUB 67.76 billion. It consists of 21,586,948 thousand common shares and 1 billion preferred shares with a face value of 3 rubles each. The Bank of Russia owns 50%+1 voting share in Sberbank.

"AK&M", 07.12.2018 14:15


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