Sberbank / Miscellaneous
10.05.2012 12:13
Dissemination of a UK Regulatory Announcement, transmitted by
EquityStory.RS, LLC - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Sberbank releases Financial Highlights for 4M 2012 (under RAS;
non-consolidated)
Statement of financial position highlights:
http://www.sbrf.ru/common/_en/img/uploaded/files/info/4M_2012_RAS_Financia
l_Highlights.pdf
Please note that the numbers are calculated in accordance with Sberbank's
internal methodology:
http://www.sbrf.ru/common/img/uploaded/files/info/internal_methodology_gui
de.pdf
May 10, 2012
Income Statement Highlights for 4M 2012 (as compared to 4M 2011):
- Net interest income grew 26.6% y-o-y
- Net fee and commission income grew 22.2% y-o-y
- Operating income before total provisions increased by 25.8% y-o-y
- Total provision charge was RUB6.7 bn vs. provision release of RUB14.6
bn for 4M 2011
- Operating expenses were up by 14.3% y-o-y
- Profit before tax amounted to RUB158.1 bn vs. RUB137.6 bn for 4M 2011
- Net profit totaled RUB127.3 bn vs. RUB111.2 bn for 4M 2011
Net interest income grew 26.6% y-o-y for 4M 2012:
- Interest income was up 28.0% y-o-y on the back of credit expansion both
in the corporate and retail segments;
- Interest expenses increased by 30.6% y-o-y, owing to increased
fund-raising and higher interest rates on corporate funds and interbank
market.
Net fee and commission income grew 22.2% y-o-y due to expansion of
fee-generating services. Fees from plastic cards and acquiring operations
saw the biggest increase (1.6 times y-o-y), which was the result of
increasing number of new cards issued and promotion of acquiring operation
to corporate clients.
Net gains from operations on financial markets amounted to RUB5.2 bn,
driven by gains from trading operations with securities.
In April, the Bank released provisions in the amount of RUB5.3 bn, which
was largely the result of better quality of its loan portfolio due to
improving financial conditions of some borrowers and loan restructurings as
part of planned work with distressed assets. In the meantime, the Bank
continued to create provisions on new loans. Total provision charge for 4M
2012 amounted to RUB6.7 bn vs. provision releases of RUB14.6 bn for the
same period a year ago (Sberbank 4M 2011 Financial Highlights).
Operating expenses increased by 14.3% y-o-y for 4M 2012, led by higher
administrative expenses and salary increases dated back to 2H 2011. As
operating income before provisions outpaced growth in operating expenses,
cost-to-income ratio declined from 41.3% for 4M 2011 to 37.5% for 4M 2012.
Profit before tax totaled RUB158.1 bn and net profit amounted to RUB127.3
bn for 4M 2012. Both figures exceeded those for the same period a year ago.
The Bank's assets expanded by RUB844 bn year-to-date, or 8.1%, to over
RUB11.3 trln. The balance sheet was significantly affected by negative FX
revaluation as a result of ruble strengthening relative to US dollar and
Euro.
In April, assets increased by RUB269 bn or 2.4%:
- The Bank lent about RUB460 bn to corporate clients for the month and
almost RUB1.7 trln year-to-date. The balance of corporate loans
increased by RUB75 bn in April to above RUB6.6 trln.
- Retail customers were granted over RUB160 bn in April and more than
RUB560 bn year-to-date. Retail loan portfolio added RUB87 bn in April,
and exceeded RUB2 trln.
Quality of the loan portfolio was unchanged in April, with overdue loans
comprising 3.34% of total. Coverage ratio remained strong, with loan-loss
provisions at RUB636 bn, or 2.2 times the overdue loans, as of May 1, 2012.
Investment portfolio grew by 0.5% in April to RUB1,465 bn.
The Bank saw a continued funding growth from its major sources in April:
- Corporate deposits and accounts added RUB22 bn or 1.0% to RUB2.3 trln;
- Retail deposits and accounts increased by RUB131 bn or 2.3% to RUB5.8
trln;
Regulatory capital (under CBR regulation No. 215-P) increased by RUB13 bn
in April to RUB1,595 bn, due to net profit earned for the month. At the
same time, however, capital was reduced by investments in Troika Dialog.
Capital adequacy ratio stood at 14.8% as of May 1, 2012.
10.05.2012 EquityStory.RS, LLC's Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russia
Phone: +7-495-957-57-21
Fax:
E-mail: media@sberbank.ru
Internet: www.sberbank.ru
ISIN: US80585Y3080, RU0009029540, RU0009029557
Listed: MICEX, RTS
Category Code: MSC
LSE Ticker: SBER
Sequence Number: 1086
Time of Receipt: May 10, 2012 12:13:21
End of Announcement EquityStory.RS, LLC News-Service
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(END) Dow Jones Newswires
May 10, 2012 06:13 ET (10:13 GMT)
© 2012 Dow Jones News
