RAS net profit of Sberbank of Russia for 7 months 2014 reached RUB 222.1 billion, the bank reported.
Profit before profits tax was RUB 280.1 billion. Net interest margin of the bank was RUB 490.8 billion (+23.7% year-on-year). Interest earnings increased by RUB 169.1 billion as a result of the growing portfolio of corporate and retail loans. Interest expenses increased by RUB 75.1 billion, mainly due to growing customer deposits, higher and more expensive borrowings from the Bank of Russia.
Net fee and commission income was RUB 148.1 billion (+23% year-on-year).
Operating earnings before aggregate provisions, i.e. income from the bank's core activities increased by 23.7% to RUB 674.4 billion.
Operating expenses grew by 11.5%. Expenses to aggregate provisions totaled RUB 162.6 billion against RUB 67.3 billion the year before.
Assets increased by RUB 63 billion (0.4%) in July.
In July, the bank provided RUB 440 billion in corporate loans. The 7-month result in this segment is RUB 4.1 trillion, RUB 0.8 trillion more than for January-July 2013. In July alone, the portfolio of corporate loans expanded by RUB 73 billion. The bank also provided more than RUB 190 billion in retail loans in July including ca. RUB 85 billion in housing loans. Since the start of the year, the total amount of retail loans exceeded RUB 1.15 trillion, more than RUB 250 billion above the result achieved for the same period in 2013 (unadjusted for credit card turnovers). The bank's portfolio of retail loans increased by RUB 90 billion In July, by RUB 451 billion (13.5%) since the start of the year, reaching RUB 3.8 trillion.
The share of arrears in the loan portfolio as of August 1, 2014 was 2.5%.
As of the same date, the N1.1 ratio was 8.3% (the minimum level set by the Bank of Russia being 5%); N1.2 was 8.3% (the lower limit being 5.5%); N1.0 was 12.3% (the minimum level being 10%).
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 the undisputed leader in the market of deposits accounting for 43.3% of the retail deposits, 32.7% of the retail loans and 32.1% of loans to legal entities.
The bank's authorized capital is RUB 67.76 billion 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.
IFRS net profit of Sberbank for 2013 grew by 4% to RUB 362 billion. Net interest margin increased by 22.3% to RUB 862.2 billion.
IFRS net profit of Sberbank for Q1 2014 fell by 18% to RUB 72.9 billion from RUB 88.5 billion in Q1 2013. Net interest margin increased by 19.7% to RUB 239.6 billion from RUB 200.2 billion. As of March 31, 2014, the bank's assets amounted to RUB 19.11 trillion, increasing by 4.9% since the end of 2013.
RAS net profit of Sberbank for 2013 went up 13.4% to RUB 392.6 billion from RUB 346.2 billion in 2012. Net interest margin grew by 17.1% to RUB 721 billion. Net fee and commission income was RUB 227.5 billion increasing to 16.7% from 12.7%. Total provision charges reached RUB 97.3 billion against RUB 29.9 billion the year before. Profit before profit tax was RUB 480.5 billion. In 2013, sberbank increased its assets by 19.9% to RUB 16.3 trillion.
RAS net profit of Sberbank for H1 2014 decreased by 2.8% to RUB 186.4 billion. Net commission income was RUB 125.6 billion (+24% year-on-year). Operating income increased by 22.5% to RUB 558.7 billion. Assets increased by more than RUB 1 trillion (6.3%) since the start of the year.