Sberbank’s net profit under RAS for nine months amounted to 1.13 trillion rubles

Sberbank’s net profit for the nine months of 2023 amounted to 1.13 trillion rubles. with a return on capital of 25.3%, while in September the bank earned 130.2 billion rubles, the return on capital for this month was 26%. This is stated in the bank’s report under RAS.

Sber’s ordinary shares fell slightly in price during trading on October 10 – their value decreased by 0.63% to a minimum of RUB 263.58. As of 10:35 Moscow time, it amounted to 264.2 rubles. (-0.4%). The Moscow Exchange index at this time was 3,176.51 (+0.08%). Since the beginning of the year, it has grown by 47%, the company’s quotes by 88%.

According to the report, the bank’s net interest income for nine months increased by 38.1% year-on-year to RUB 1.7 trillion, which is due to the growing dynamics of Sber’s business in 2023, as well as the effect of last year’s low base. Moreover, in September this figure increased by 25.6% to 206.8 billion rubles.

Net commission income during the reporting period increased by 18.9% to RUB 515.2 billion. Its increase was mainly due to the growth in acquiring volumes and income from settlement and cash services, the credit institution explained. In September, it amounted to 65.3 billion rubles. (+12.1%). Expenses for provisions and revaluation of loans measured at fair value for nine months amounted to RUB 550.9 billion. Operating expenses for 9 months increased by 27.5%, to 587.9 billion rubles.

The retail loan portfolio grew by 22.5% since the beginning of the year and amounted to RUB 14.7 trillion. The housing loan portfolio grew by 25.4% over 9 months, and its volume exceeded RUB 9.4 trillion. The consumer loan portfolio grew by 13.2% since the beginning of the year to RUB 3.9 trillion. The credit card portfolio increased by 31.2% to RUB 1.4 trillion. The corporate loan portfolio amounted to RUB 22.7 trillion, an increase of 21% since the beginning of the year (+13.6% excluding currency revaluation).

Previously Sberbank reported, that its net profit according to international financial reporting standards (IFRS) for the second quarter of this year amounted to a record 380.3 billion rubles. Net profit according to Russian accounting standards (RAS) for the first half of the year amounted to 727.8 billion rubles.

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