Dow Jones received a payment from EQS/DGAP to publish this press release.
EquityStory.RS, LLC-News: Sberbank / Key word(s): Monthly Figures/Monthly
Figures
Sberbank: Sberbank: Sberbank releases Financial Highlights for 11M 2016
(under RAS; non-consolidated)
2016-12-07 / 08:19
The issuer is solely responsible for the content of this announcement.
*Sberbank releases Financial Highlights for 11M 2016 (under RAS;
non-consolidated) *
_Please note that the numbers are calculated in accordance with Sberbank's
internal methodology. _
December 7, 2016
*Key highlights for November, 2016:*
- The Bank earned net profit of RUB53.4 bn
- Corporate loan portfolio increased by RUB254 bn in nominal terms (in real
terms by RUB131 bn, or by 1.1%). Retail loans portfolio increased by RUB21
bn, or 0.5%
- Client funds increased by RUB303 bn in nominal terms (in real terms by
RUB164 bn, or by 1.0%)
Deputy Chairman of Sberbank Alexander Morozov stated:
_"A pickup in economic activity in November led to one of strongest growth
in real terms in both loan portfolio and client funds this year - by RUB152
bn and RUB164 bn correspondingly. This combined with our improved
efficiency, gives us confidence in achieving decent full-year results._
*Comments for 11M 2016:*
*Net interest income *increased by 44.9% to reach RUB1 trln: _Interest
income_ increased by 4.6%, mostly driven by the increase in volume of
working assets; _Interest expense_ came down by 21.7% due to improving
liabilities structure with cheaper funding and decrease in market rates
compared to 11M 2015.
*Fee and commission income* was up by 21.6% to RUB280.5 bn compared 11M 2015
mainly driven by transactional business with bank cards and acquiring.
Income from bank insurance and settlements also contributed to Fee and
commission income.
*Operating expense *increased by12.6%, which was significantly slower than
pre-provision operating income growth (32.7%). Operating expenses increase
was moderate despite the continuing effect from wage indexation. The Bank
continues to implement efficiency increase and operating cost-cutting
program. Cost-to-Income ratio decreased from 38.7% for 11M 2015 to 32.8% for
11M 2016.
*Total provision charges *amounted to RUB22.6 bn in November. Total
provision charge for 11M 2016 amounted to RUB271 bn, or 73% of 11M 2015
figure. Significant impact on the reserves during the year was due to the
strengthening of the ruble against major foreign currencies. The Bank
continues to form loan-loss provisions in-line with the requirements of the
Central Bank of Russia. Provision coverage of overdue loans increased from
1.9 in the beginning of the year to 2.4 in November.
*Net profit before income tax *came at RUB615.1 bn. Net profit totaled
RUB483.2 bn.
*Total comprehensive income *which includes the income from revaluation of
financial assets available-for-sale and held-to-maturity,amounted to
RUB527.0 bn.
*Total assets* in November increased by 0.9% to RUB21.7 trln. The decrease
in assets by 5.8% since the beginning of the year is explained by the
reduction of excessive liquidity by means of forgoing more expensive sources
of clients' funding. Additional factor during the year was negative
revaluation of the foreign currency denominated assets on the back of Ruble
appreciation.
The Bank lent RUB810 bn to *corporate clients* in November. Corporate loan
issues from the beginning of the year were about RUB7.9 trln, which was 1.4X
more than for 11M 2015. The loan portfolio ending balance increased by
RUB254 bn in nominal terms (in real terms by RUB131 bn) from Ruble loans.
The Bank lent over RUB136 bn to *retail clients* in November; retail loan
issues from the beginning of the year were RUB1.38 trln, which was 1.3X
greater than for 11M 2015. Total retail loan portfolio increased by RUB21 bn
in November (most of which were mortgage loans) to reach RUB4.3 trln as of
December 1, 2016.
Thanks to a number of measures undertaken at the Bank the volume of overdue
loans in November came down by RUB2.5 bn. The share of *overdue loans* of
total loans was down to 2.8% in November, which is lower than the level in
the beginning of the year (3.3%), and is substantially lower than the
banking sector's average (6.9% as of November 1, 2016).
*Securities portfolio* was down by RUB44 bn in November mainly due to
redemptions of short-term European Commercial Papers nominated in U.S.
Dollars. The portfolio ending balance was about RUB2.1 trln as of December
1, 2016.
*Retail deposits and accounts* in November increased by RUB123 bn in nominal
terms (in real terms by RUB67 bn), mostly from Ruble term deposits. Retail
deposits and accounts ending balance was RUB11.1 trln as of December 1,
2016.
Corporate deposits and accountswere up by RUB181 bn in nominal terms (in
real terms by RUB97 bn) in November mainly from inflows to Ruble current
accounts. Corporate deposits and accounts ending balance exceeded RUB5.6
trln as of December 1, 2016.
*Core Tier 1* and *Tier 1 capital* (equal since Sberbank does not have
instruments of additional capital) reached RUB2,206 bn as of December 1,
2016 under preliminary calculations. The monthly increase of RUB156 bn was
mainly related to the increase of audited 3Q2016 net profit to Core Tier 1
and Tier 1 capital.
*Total capital* amounted to RUB3,039 bn as of December 1, 2016, up by RUB61
bn mainly due to earned net profit.
Risk-weighted assets increased by RUB410 bn in November mainly due to loans
to banks and corporate loans to reach to RUB23.4 trln as of December 1,
2016.
Capital adequacy ratios as of December 1, 2016 under preliminary
calculations were:
- N1.1 - 9.5% (minimum adequacy level, required by the Central Bank of
Russia at 4.5%)
- N1.2 - 9.5% (minimum adequacy level, required by the Central Bank of
Russia at 6.0%)
- N1.0 - 13.0% (minimum adequacy level, required by the Central Bank of
Russia at 8.0%).
Sberbank 11M 2016 Financial Highlights (under RAS, non-consolidated)
2016-12-07 Dissemination of a Corporate News, transmitted by EquityStory.RS,
LLC - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EquityStory.RS, LLC Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russia
Phone: +7-495-957-57-21
E-mail: media@sberbank.ru
Internet: www.sberbank.ru
ISIN: US80585Y3080, RU0009029540, RU0009029557, US80585Y4070
Listed: Open Market (Entry Standard) in Frankfurt; London, Moscow
End of News EquityStory.RS, LLC News Service
527435 2016-12-07
(END) Dow Jones Newswires
December 07, 2016 02:19 ET (07:19 GMT)
