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Sber net profit under IFRS rises by 16.5% to $6.74 bln in Q1

Net interest income rose by 18.2% in the Q1, while net fee and commission income increased by 0.6%

MOSCOW, April 29. /TASS/. Sberbank’s net profit under the International Financial Reporting Standards (IFRS) in the Q1 of 2026 increased by 16.5% to 507.9 bln rubles ($6.74 bln), according to the bank’s materials.

"Following the results of the first quarter of 2026, Sber Group’s net profit increased by 16.5% year-on-year to 507.9 bln rubles. Return on equity reached 24.4%," the report said.

Net interest income rose by 18.2% in the Q1 to 984.3 bln rubles ($13.06 bln), while net fee and commission income increased by 0.6% to 204.5 bln rubles ($2.71 bln).

According to the report, the group’s operating expenses increased by 15.8% year-on-year to 303.5 bln rubles ($4.03 bln), mainly due to higher amortization of intangible assets and increased marketing expenses.

Loans and deposits

The bank’s retail loan portfolio grew by 2.5% over the quarter to 19.7 trillion rubles ($261.47 bln). The mortgage portfolio increased by 3.5% over the quarter to 12.9 trillion rubles ($171.23 bln). Mortgage loan originations amounted to 754 bln rubles ($10.01 bln) in the Q1of 2026. The consumer loan portfolio declined by 0.8% over the quarter to 3.5 trillion rubles ($46.45 bln). Sber’s corporate loan portfolio grew by 2.3% over the reporting period to 31.9 trillion rubles ($423.45 bln).

Household deposits rose to 33.9 trillion rubles ($450.05 bln), showing a 1.4% increase over the quarter. In the Q1of 2026, 5.1 trillion rubles ($67.70 bln) in corporate loans were issued. Corporate client funds amounted to 15.9 trillion rubles ($211.10 bln) at the end of the quarter and remained virtually unchanged.