DGAP-News: Sberbank: Sberbank of Russia Achieved Record Financial Results in 2010
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Sberbank: Sberbank of Russia Achieved Record Financial Results in 2010
03.06.2011 / 09:56
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Sberbank of Russia Achieved Record Financial Results in 2010
Moscow, June 3, 2011 - Net profit of Sberbank Group in accordance with IFRS
for 2010 reached RUB181.6bn, exceeding net profit for 2009 (RUB24.4bn) more
than 7 times. EBITDA was RUB230.2bn and RUB29.9bn, respectively.
In 2010, net interest income reached RUB495.8bn (RUB502.7bn in 2009), while
net fee and commission income of the Group grew 22.3% to RUB123.6bn.
Total comprehensive income of Group in accordance with IFRS for 2010
reached RUB206.6bn, 5 times exceeding the results of the previous year.
The Bank's assets for 2010 grew 20.1% to RUB8,523bn, attributed mainly by
growth in the securities portfolio and client loans, both corporate and
retail.
The Bank's outstanding corporate loan portfolio for 2010 increased by more
than RUB500bn and reached RUB4,766bn. The Bank succeeded in nearly doubling
the portfolio rates (to 12.2%, against 6.7% in 2009), despite a large
volume of advanced repayments in the beginning of 2010, and measures aimed
at raising the loan portfolio quality, such as sales of distressed assets.
Retail loan portfolio of the Bank increased 11.3% to RUB1,301bn in 2010
compared to a decline of 6.9% in 2009, achieved mainly from targeted
actions of the Bank to create favorable borrowing conditions, such as
offering attractive loan terms to clients and cancelling commission on
loans.
During the year, Sberbank allocated access liquidity in securities,
diversifying its assets and revenues. The main investments were made in the
most reliable and liquid State securities. According to the results of the
year, the securities portfolio grew 1.7 times to RUB1,851bn.
# # #
Sberbank of Russia
Public Relations Department
tel +7(495) 957 5721
media(at)sberbank.ru
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Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russland
Phone: +7-495-957-57-21
E-mail: media(at)sberbank.ru
Internet: www.sberbank.ru
Listed: Foreign Exchange(s) MICEX, RTS
End of News EquityStory.RS, LLC News-Service
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127373 03.06.2011
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