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Sberbank net profit exceeds RUB 176 bln in January-June 2011

August 30, 2011, 19:53 UTC+3
As of June 30, the bank’s assets were estimated at 9.08 trillion roubles
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MOSCOW, August 30 (Itar-Tass) —— Net profit of Russia’s biggest state-controlled bank – Sberbank (Savings Bank), calculated under the International Accounting Standards (IAS), increased more than thrice in the first six months of the year, as compared to the same period of 2010, and reached 176.1 billion roubles (USD 1 = RUB 28.85), the bank said in a report published on Tuesday.

In the first half of 2010, the indicator amounted to 64.3 billion roubles, the Sberbank’s report said.

In January-June 2011, the total aggregate income of the Sberbank group doubled to make up 166.6 billion roubles. As of June 30, the bank’s assets were estimated at 9.08 trillion roubles.

In the first half of the current year, the overdue debt for the bank’s loans amounted to 6.6 percent, while loan loss provisions were at 9.8 percent of the bank’s credit portfolio, the report wrote.

As of the beginning of the year, the share of “non- performing” loans (delay in payments and servicing of which exceeds 90 days) amounted to 7.3 percent or the Sberbank’s credit portfolio, while provision for impairment was estimated at 11.3 percent or the aggregate credit portfolio, the bank’s official report said.

According to earlier information, the bank’s assets increased by 141 billion roubles in June 2011. Besides, Sberbank granted over 365 billion roubles to Russian corporate clients in the month under review, and more than 2.15 trillion roubles in the first six months of the year.

In June 2011, the bank granted more than 97 billion roubles of loans to private clients, the report wrote, adding that the total sum for private credits reached 490 billion roubles in the first half of the year.

The bank’s investments in securities decreased by 234 billion roubles in June 2011, to stand at 1.463 billion roubles as of July 1, the Sberbank’s report said back then.

In the period under review, the share of public bonds in the bank’s portfolio went down from 63 percent to 54 percent, while the share of corporate bonds shrank from 24 percent to 20 percent as of July 1, 2011.

Besides, the total amount of personal deposits in the bank increased by 113 billion roubles to 5.058 billion roubles, Sberbank said in the report.

In June 2011, Sberbank’s stock increased by 12 billion roubles to make up 1,391 billion roubles, the report said. The bank’s capital has gone up by 12 percent since the beginning of the year. As of July 1, 2011, the capital adequacy ratio reached 18 percent.

 

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