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Sberbank Increased Its Net Profit
July 10, 2016 17:03


The net profit of Sberbank under Russian Accounting Standards (RAS) increased by 2.8 times in January-June 2016, as compared to the same period of last year, and amounted to 229.4 billion roubles. This was reported by the press-service of the credit institution on Thursday, July 7.

Profit before tax amounted to 300 billion roubles versus 96 billion roubles a year earlier. Private clients were granted loans amounting to about 125 billion roubles in June, the sum since the beginning of the year made up more than 700 billion roubles. The loan portfolio in June increased by 13 billion roubles and totaled 4.2 trillion roubles as of July 1. The portfolio share of housing loans exceeds 55 percent.

The funds of private persons in the bank increased by 111 billion roubles in June – up to 10.87 trillion roubles, funds of legal entities decreased by 305 billion – down to 6.2 trillion roubles. On July 6 the President of Sberbank German Gref said that beginning from July 7 the credit institution would reduce its rates for a variety of credit products. In the first quarter of 2016 the net profit of Sberbank under International Financial Reporting Standards (IFRS) increased by 3.8 times, as compared to the same period of last year, and amounted to 117.7 billion roubles.


Author: Anna Dorozhkina


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