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Sberbank: Sberbank releases Financial Highlights for 1M 2016 (under RAS; non-consolidated)
Sberbank / Key word(s): Monthly Figures/Monthly Figures
05.02.2016 08:45
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Sberbank releases Financial Highlights for 1M 2016 (under RAS;
non-consolidated)
Please note that the numbers are calculated in accordance with Sberbank's
internal methodology.
February 5, 2016
Key highlights for January, 2016:
- Interest income increased by 1.7 times y-o-y to RUB84 bn that was the
main contributor for the decent financial result.
- Fee and commission income growth from transactional business with bank
cards and acquiring remained strong. Fee and commission income was up
by 32.4%.
- Corporate loan portfolio growth exceeded RUB600 bn for the month.
- Net profit in January came at RUB28.3 bn.
Deputy Chairman of Sberbank Alexander Morozov stated:
We delivered a decent financial result while operating on volatile markets.
It has demonstrated our ability to generate capital organically, and will
allow us to mitigate the impact from negative factors on capital adequacy
ratios.
Analysis of the Statement of Financial Position and Statement of Profit or
Loss for 1M 2016, as compared to 1M 2015:
- Interest income increased by 3.0% y-o-y, interest expenses decreased by
24.7% y-o-y. Net interest income increased by 67.0% y-o-y
- Fee and commission income increased by 32.4% y-o-y
- Operating income before total provisions increased by 33.3% y-o-y
- Total provision charge was RUB61.6 bn vs. RUB54.9 bn charge for 1M 2015
- Operating expenses increased by 4.3% y-o-y
- Net profit before income tax reached RUB31.5 bn vs. RUB9.9 bn for 1M
2015
- Net profit totaled RUB28.3 bn vs. RUB3.7 bn
Comments:
Net interest income came at RUB84.0 bn in January, +67% compared to the
last year.
- Interest income increased by 3.0%, driven by the increase in volumes of
working assets.
- Interest expenses decreased by 24.7%, due to the reduction of state
funding volumes and decrease in market rates.
Fee and commission income was up by 32.4% to RUB22.9 bn, mainly driven by
transactional business with bank cards and acquiring, cash settlements as
well as bank insurance (commissions from which were strong, compared to
weak results a year ago given the reduced demand for lending in January
2015). Subject to the CBR Regulation N446-P from 22/12/2014, credit
non-consolidated)
Please note that the numbers are calculated in accordance with Sberbank's
internal methodology.
February 5, 2016
Key highlights for January, 2016:
- Interest income increased by 1.7 times y-o-y to RUB84 bn that was the
main contributor for the decent financial result.
- Fee and commission income growth from transactional business with bank
cards and acquiring remained strong. Fee and commission income was up
by 32.4%.
- Corporate loan portfolio growth exceeded RUB600 bn for the month.
- Net profit in January came at RUB28.3 bn.
Deputy Chairman of Sberbank Alexander Morozov stated:
We delivered a decent financial result while operating on volatile markets.
It has demonstrated our ability to generate capital organically, and will
allow us to mitigate the impact from negative factors on capital adequacy
ratios.
Analysis of the Statement of Financial Position and Statement of Profit or
Loss for 1M 2016, as compared to 1M 2015:
- Interest income increased by 3.0% y-o-y, interest expenses decreased by
24.7% y-o-y. Net interest income increased by 67.0% y-o-y
- Fee and commission income increased by 32.4% y-o-y
- Operating income before total provisions increased by 33.3% y-o-y
- Total provision charge was RUB61.6 bn vs. RUB54.9 bn charge for 1M 2015
- Operating expenses increased by 4.3% y-o-y
- Net profit before income tax reached RUB31.5 bn vs. RUB9.9 bn for 1M
2015
- Net profit totaled RUB28.3 bn vs. RUB3.7 bn
Comments:
Net interest income came at RUB84.0 bn in January, +67% compared to the
last year.
- Interest income increased by 3.0%, driven by the increase in volumes of
working assets.
- Interest expenses decreased by 24.7%, due to the reduction of state
funding volumes and decrease in market rates.
Fee and commission income was up by 32.4% to RUB22.9 bn, mainly driven by
transactional business with bank cards and acquiring, cash settlements as
well as bank insurance (commissions from which were strong, compared to
weak results a year ago given the reduced demand for lending in January
2015). Subject to the CBR Regulation N446-P from 22/12/2014, credit
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