DGAP-News

Sberbank: Sberbank releases Financial Highlights for 9M 2015 (under RAS; non-consolidated)

Sberbank / Key word(s): Statement/Miscellaneous

07.10.2015 09:30

Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC - a
company of EQS Group AG.
The issuer / publisher is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Sberbank releases Financial Highlights for 9M 2015 (under RAS;
non-consolidated)

Please note that the numbers are calculated in accordance with Sberbank's
internal methodology.

October 7, 2015

Key highlights for September, 2015:

- Net income totaled RUB32.4 bn in September.

- Total clients' funds increased by 2.6% in September, where corporate
deposits and accounts +4.9%, retail deposits +1.2%.

- Financial efficiency demonstrates further improvement: Cost-to-Income
ratio for 9M 2015 decreased to 38.9% vs. 39.5% for 8M 2015

Deputy Chairman of Sberbank Alexander Morozov stated: "September net profit
of RUB32.4 bn is the best result since September 2014 and is in-line with
our expectations. We keep focusing on strengthening the efficiency of our
business"

Analysis of the Statement of Financial Position and Statement of Profit or
Loss for 9M 2015, as compared to the same period a year earlier:

- Interest income increased by 24.6% y-o-y, interest expenses increased
by 75.8% y-o-y. Net interest income decreased by 16.3% y-o-y

- Noncredit commission income grew by 19.2% y-o-y, net fee and commission
income increased by 6.0% y-o-y

- Operating income before total provisions decreased by 10.1% y-o-y

- Total provision charge was RUB303.7 bn vs. RUB217.8 bn charge for 9M
2014

- Operating expenses decreased by 0.9% y-o-y

- Net profit before income tax reached RUB181.8 bn vs. RUB360.4 bn for 9M
2014

- Net profit totaled RUB144.4 bn vs. RUB286.7 bn for 9M 2014

Comments:

Net interest income came at RUB532.6 bn, down by 16.3% compared to that for
9M 2014. The pace of net interest income growth in 2015 is catching up to
2014 rate: 17.6% for 8 months and 16.3% for 9 months.

- Interest income increased by RUB281.4 bn, or 24.6%, driven mostly by
corporate loan portfolio growth and improving yield, as well as retail
loan portfolio growth.

- Interest expenses increased by RUB385.1 bn, or 75.8%, due to the
increase in market interest rates and inflow of funds. The strongest
impact on interest expense for 9M 2015 came from client deposits and
the CBR funding . Slowdown in interest expenses growth continues due to
gradual decrease in the CBR's key interest rate since the beginning of
2015. The increase in interest expense on deposits in September m-o-m