Sberbank IFRS net profit falls by 5% to 202 bln rbl in Oct–Dec

MOSCOW, Mar 4 (PRIME) -- The net profit of Russia’s biggest lender Sberbank fell by 5% on the year to 201.7 billion rubles in October–December, as calculated under International Financial Reporting Standards (IFRS), the bank said on Thursday.

In 2020, the bank’s net profit fell by 10% to 760.3 billion rubles.

The bank’s expenditures on reserves more than doubled on the year to 108 billion rubles in October–December and more than tripled to 493.8 billion rubles in 2020.

Retail loans rose by 18.1% in 2020 to 9.308 trillion rubles as of December 31, while corporate loans increased by 13.2% to 15.7 trillion rubles.

Sberbank raised retail deposits by 5.6% in October–December to 16.641 trillion rubles as of December 31, and cut corporate deposits by 2.9% to 9.125 trillion rubles.

(73.5187 rubles – U.S. $1)

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