Sberbank’s IFRS net profit grows to 305 bln rbl in January–March

MOSCOW, Apr 29 (PRIME) -- The net profit of Russia’s biggest lender Sberbank more than doubled on the year to 304.5 billion rubles in January–March, as calculated under International Financial Reporting Standards (IFRS), the bank said on Thursday.

Spending on reserves declined by 84.6% to 25.5 billion rubles.

Retail lending rose by 3.9% to 9.675 trillion rubles as of March 31, while corporate lending increased by 0.8% to 15.824 trillion rubles.

Sberbank cut retail deposits by 0.8% to 16.508 trillion rubles as of March 31, corporate deposits rose by 15% to 10.47 trillion rubles.

For further details, please see the bank's report on official website:

https://www.sberbank.com/common/img/uploaded/files/info/ifrs2021/01/otchet/1q_ifrs_public_2021en.pdf

(74.9390 – U.S. $1)

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