Sberbank IFRS net profit rises 70% to 271 bln rbl in Jul–Sep

MOSCOW, Oct 29 (PRIME) -- The net profit of Russia’s biggest lender Sberbank grew 70% on the year to 271.4 billion rubles in July–September, as calculated under International Financial Reporting Standards (IFRS), the bank said on Thursday.

In January–September, the bank’s net profit fell 11.8% on the year to 558.6 billion rubles.

The bank’s expenditures on creation of reserves rose 60% on the year to 85.7 billion rubles in July–September and grew to 385.7 billion rubles in January–September from 108.3 billion rubles in the same period of 2019.

Sberbank raised retail loans by 12.7% in January–September to 8.88 trillion rubles as of September 30, and increased corporate loans by 13% to 15.66 trillion rubles.

Retail deposits with Sberbank rose 10.9% in January–September to 15.759 trillion rubles as of September 30, while corporate deposits increased 27.5% to 9.393 trillion rubles.

(77.5520 rubles – U.S. $1)

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