CEO says Sberbank’s RAS net profit tops 50 bln rbl in Jan–Oct

MOSCOW, Nov 10 (PRIME) -- Russia’s top bank Sberbank has managed to recover its profitability with a net profit of more than 50 billion rubles in January–October, and 122.8 billion rubles in October, as calculated under Russian Accounting Standards (RAS), CEO German Gref told reporters on Thursday.

“As a result of the first 10 months, Sberbank has recovered the profitability. The net profit has exceeded 50 billion rubles in the period, and in October, the bank earned 122.8 billion rubles,” he said.

Sberbank’s retail loan portfolio increased by 9% and the corporate loan portfolio by 11.9% in January–October, and monthly loan issuance has reached the level of the second half-year of 2021, Gref said.

Sberbank’s capital adequacy is strictly in line with the central bank’s requirements without any easing, he added.

The CEO also said that Sberbank will resume regular disclosure of financial information starting from information for October, and will publish the results each month.

(61.0611 rubles – U.S. $1)

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