Sberbank says April–June IFRS net profit at 380.3 bln rbl

MOSCOW, Aug 3 (PRIME) -- The net profit of Russia’s top bank Sberbank amounted to 380.3 billion rubles in April–June and to 737.5 billion rubles in January–June, as calculated under International Financial Reporting Standards (IFRS), the bank said in a statement on Thursday.

The bank disclosed no financial information for January–June and April–June 2022.

Spending for reserves and loan reassessment stood at 102.7 billion rubles in April–June and at 186.9 billion rubles in January–June.

Retail loans grew by 12.1% to 13.928 trillion rubles as of June 30, and corporate loans by 11.6% to 20.759 trillion rubles in January–June.

Retail deposits increased by 8.8% to 20.123 trillion rubles, and corporate deposits rose by 12% to 12.747 trillion rubles.

The bank said that it had improved the outlook on the growth of Russians' funds placed with it in 2023 to 18–20% from 12–14%, while the corporate deposits guidance remained flat at 18–20%. Sberbank plans to develop in line with the market.

The growth forecast of the combined retail lending on the market rose to 19–21% in the period from 14–16%, for corporate lending to 17–19% from 13–15%. The bank plans to give more retail loans than the market and grow in line with the corporate lending market.

(92.8410 rubles – U.S. $1)

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