Sberbank's 5-month RAS net profit up 1.8 times

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AK&M 09 June 2021 15:36

RAS net profit of Sberbank of Russia for January-May 2021 increased 1.8 times to RUB 488 billion, according to the bank's financial statements.

Net interest income increased by 11.4% to RUB 636.3 billion. Net fee & commission income amounted to RUB 222.4 billion growing by 20.3% YoY. Operating expenses increased by 9.5% to RUB 254.7 billion.

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. Sberbank provides services to customers in 18 countries. The bank has the most extensive branch network in Russia, with about 14,000 points of services. Sberbank's foreign network consists of subsidiaries, branches and representative offices in the UK, USA, CIS, Central and Eastern Europe, India, China and other countries.

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 Russian Federation represented by the Ministry of Finance is the majority owner holding a 50% stake plus 1 voting share. Russian and international investors own the remaining 50% less 1 voting share.