Sberbank Eight-Month Profit Rises 24%, Hits Record Monthly Retail Lending
07 September 2018 - 6:03PM
Dow Jones News
By Adam Clark
Sberbank Rossia (SBER.MZ) said Friday that its profit rose in
the first eight months of its fiscal year, as its retail lending
hit a record level and provisions fells.
The Russian lender said its pretax profit for the period to Aug.
31 came to 666.61 billion rubles ($9.66 billion), up 24% from the
same period in 2017.
Net fee-and-commission income rose 25% to RUB278.35 billion,
while net interest income climbed 6% to RUB833.64 billion.
Sberbank said that in August it made RUB304 billion in retail
loans, its largest-ever amount in one month. Retail loans issued in
the year-to-date have exceeded RUB2.0 trillion, while corporate
loans issued stand at RUB8.6 trillion, Sberbank said.
Provision charges for the eight-month period came to RUB213.6
billion, down 5.8%. Sberbank said that in August, it took RUB41.3
billion in provisions, mainly due to the weaker ruble.
Sberbank said its core tier 1 capital as of the end of the
period stood at RUB3.19 trillion, up 21% from the start of
2018.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
September 07, 2018 03:48 ET (07:48 GMT)
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