The key facts
- Sber's net profit for January–October was 1.67 trillion rubles ($20.2 billion), up 17.6% year over year
- Return on equity was 22.9%, and 22.4% for October alone
- Interest income grew 23.7%, while fee income fell 1.4%
Financial results for ten months
Sber, Russia's largest bank, reported net profit of 1.67 trillion rubles (about $20.2 billion) for January–October, 17.6% higher than in the same period last year. Return on equity for the period stood at 22.9%. The report was prepared under Russian accounting standards.
Dynamics of income and expenses
The bank's interest income grew 23.7% year over year — to roughly $37.5 billion, aided by growth in income-generating assets. Fee income, meanwhile, declined 1.4% to $7.15 billion. Operating expenses increased 14.6% to $12.47 billion, while expenses on provisions and the revaluation of loans carried at fair value rose 35.7% to $7.37 billion.
Capital, portfolios and the October result
Sber's total capital grew 2% in October — to about $101.5 billion, mainly due to retained earnings. In October alone, the bank earned net profit of $2.04 billion (up 12.6% year over year) with a return on equity of 22.4%. The retail loan portfolio reached about $246.8 billion, and the corporate portfolio $400.4 billion. Funds from retail and corporate clients increased 0.8% in October to approximately $596.4 billion.
