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Sberbank of Russia reports RAS 319 bln rbl net profit growth Jan-Oct

Capital adequacy as of November 3, 2013 was at 13.3 percent

Photo ITAR-TASS/Anton Novoderezhkin

Photo ITAR-TASS/Anton Novoderezhkin

MOSCOW, November 9 (Itar-Tass) - Russia's largest retail savings bank Sberbank has declared its net profit under Russian accounting standards (RAS) increased by 7.5 percent year-on-year over January - October 2013 and totalled 318.8 billion roubles.

The bank’s financial statement say total provision charges made 99.5 billion roubles against 41.9 billion roubles a year earlier. In October they totalled 16 billion roubles.

Last month Sberbank allotted over 710 billion roubles of corporate loans, which is 40 percent more than last year's monthly average. Over the past ten months the bank granted a total of about 5.3 trillion roubles in corporate loans. In October, the corporate credit balance grew by 157 billion roubles, or 2 percent, with dollar decline versus the ruble weighing on the loan portfolio growth because of revaluation of foreign currency loans. In effect, the bank’s portfolio had increased 7.2 percent since the year-start.

Meanwhile, retail loans issued in October amounted to about 180 billion roubles. The retail portfolio had extended 3.2 percent month-on-month, or by 97.5 billion roubles, which is the strongest month-on-month growth since January 2012. The retail portfolio had increased 24.7 percent since the year-start.

Regulatory capital as of November 2013 was at 1.936 trillion roubles. In particular, in October it increased by 30 billion roubles on the gained net profit. However, revaluation of investments in the bank’s subsidiaries restricted capital growth somewhat.

Capital adequacy as of November 3, 2013 was at 13.3 percent.

The Sberbank of Russia is Russia’s largest bank that holds about 27 percent of the Russian banking system’s assets. The Central Bank of Russia is its founder and principal shareholder with 50 percent in Sberbank’s authorized capital plus one voting share.

-0-evs/str

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