IFRS net profit of OJSC Sberbank of Russia for H1 2013 reached RUB 174.5 billion, a minor change against the result achieved for the same period in 2012 (RUB 175.3 billion), according to the bank's statement.
Net interest income increased by 25.2% in H1 2013 to RUB 405.9 billion, compared to RUB 324.2 billion in H1 2012. Excluding the effect of DenizBank acquisition in Q3 2012, the Group's net interest income for H1 2013 increased by 16.4% year-on-year.
Net interest margin for H1 2013 declined by 20 basis points to 5.8% as compared to H1 2012.
Net fee and commission income increased by 24.5% in H1 2013 to RUB 97.5 billion, compared with RUB 78.3 billion in H1 2012. Excluding the effect of DenizBank acquisition in Q3 2012, the Group's net fee and commission income for H1 2013 increased by 17.2% year-on-year.
The Group's operating income before provision for loan impairment increased by 22.0% to RUB 520.9 billion as compared to RUB 427.0 billion for H1 2012.
Net provision charge for loan impairment amounted to RUB 62.7 billion and was translated to cost of risk of 110 basis points.
The total capital adequacy ratio improved by 20 basis points in 1H 2013 to 13.9%. The core capital adequacy ratio improved by 10 basis points up to 10.5%.
Sberbank of Russia (tax number: 7707083893) is the largest bank in Russia, Central and Eastern Europe. Its authorized capital is RUB 67.76 billion and is represented by 21,586,948 thousand common shares and 1 billion preferred shares at par value of 3 rubles each. The Bank of Russia owns 50%+1 voting share in Sberbank. The bank has the largest countrywide branch network with 17 regional head offices, more than 20 thousand banking outlets and internal departments, along with subsidiary banks in Kazakhstan and Ukraine.
IFRS net profit of Sberbank for Q1 2013 decreased by 4% year-on-year to RUB 88.5 billion.
RAS net profit of Sberbank for January-April 2013 grew 1.3% to RUB 128.9 billion from RUB 127.3 billion for the same period in 2012.