Sberbank posts 140.9 bln rbl RAS net profit in August

MOSCOW/VLADIVOSTOK, Sep 11 (PRIME) -- The net profit of Russia’s top bank Sberbank amounted to 140.9 billion rubles in August, as calculated under Russian Accounting Standards (RAS), the bank said in a report on Monday.

The bank did not post its financial reports last year, and it did not provide figures for August 2022 for comparison.

The retail loan portfolio of Sberbank grew by 3.8% in August, and retail lending hit a record or 915 billion rubles in August. At the same time, the corporate loan portfolio gained 2.3% to 22.1 trillion rubles in August.

CEO German Gref told reporters during the Eastern Economic Forum that the bank’s net profit stood at 999 billion rubles in January–August, and that the bank’s return on equity may even outperform the current forecast of 22% in 2023.

Net interest income of Sberbank grew by 40.1% on the year to 1.5 trillion rubles in January–August, he said.

Deposits of individuals with Sberbank gained almost 2% in August, while corporate deposits rose by 8.6% in the month and by 18% since the beginning of the year to more than 10.3 trillion rubles in August, Gref said.

(97.9241 rubles – U.S. $1)

End