Sberbank of Russia increased its profit compiled under the Russian Accounting Standards (RAS) by 14.5% to Rub 127.3 bln in January — April 2012, reported the press service of Russia’s banking top dog.
According to the document, Sberbank’s 4M net profit totaled Rub 127.3 bln against Rub 111.2 bln in January — April 2011. The lender’s assets have grown nearly Rub 844 bln, or 8.1%, YTD, and exceeded Rub 11.3 tln. At the same time, the bank’s balance sheet items were adversely affected by negative revaluation of the currency component as the dollar and the euro retreated against the ruble.
The lender’s net interest income climbed 26.6% y-
Furthermore, in April 2012 Sberbank ramped up its retail credit portfolio by 4.5% to over Rub 2 tln, and the corporate one by 1.2% to over Rub 6.6 tln. The weight of NPLs in the customers’ credit portfolio remained unchanged in April and equaled 3.34%.
Securities investments rose 0.5% to Rub 1.46 tln in April.
Main sources of funding for the bank’s operations continued to grow (money of businesses rose Rub 22 bln, or 1%, to roughly Rub 2.3 tln, while funds of households increased Rub 131 bln, or 2.3%, to Rub 5.8 tln).
In April the lending institution’s capital increased by Rub 13 bln to Rub 1.59 tln. The capital rose on the heels of net profit earned. The inclusion of investments in Troika Dialog in capital calculations reduced the capital in line with the regulations for capital calculation. The lending institution’s capital adequacy ratio stood at 14.8% as of May 1, 2012.
Sberbank of Russia is the largest lender in Russia and the CIS with the widest network of branches, offering a full range of investment banking services. Also, 60.25% of its shares are controlled by the Bank of Russia. About a half of the Russian retail deposit market, and also every third corporate and retail loan granted in Russia falls to Sberbank.
