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Sberbank is going to get ultra-high profits in 201

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Sberbank is going to get ultra-high profits in 201

Sberbank is going to get ultra-high profits in 201
September 26
14:30 2016

German Gref, head of Sberbank, said that the bank  had “very positive” expectations regarding the profits in the current year. This statement was made during a meeting with Dmitry Medvedev, Prime Minister of the Russian Federation.  According to Gref, the bank has received a record profit for the first 8 months of this year. This has been a record since the foundation of the Bank.

In particular, Gref said: “Even in such a difficult period of time, we have earned 322 billion rubles of the net profit for the first eight months. And, in principle, we still have very positive expectations till the end of the year, although I’m always afraid to predict as everything can happen in the current macroeconomic situation; so the bankers are always very superstitious. “However, Gref did not give a specific annual forecast on profit.

Previously it was known that in the period of January-August this year the net profit of the credit institution regarding RAS has amounted to 322.8 billion rubles. Compared with the first 8 months of 2015, Sberbank has increased its profit almost 3 times. In August the profit of Sberbank became equal to 47.8 billion rubles. For the same period of the last year it amounted to 19.6 billion rubles. Assets decreased by 1.1% in the last summer month mostly due to the fact that the currency component was overvalued as a result of the strengthened ruble. Since the beginning of 2016 the assets have decreased by 5.2%, amounting to 21 trillion 869.26 billion rubles.

Sberbank has provided its corporate clients with the loans totaling approximately to 5.4 trillion rubles for the period of 8 months. This is 1.5 times more than for the same period of 2015. As of 1, September the loan portfolio was 11.7 trillion rubles. The corporate loan portfolio has fallen by 4.2% from the beginning of the year. Private customers have received 980 billion rubles from the beginning of the year. This is more by a third than for the corresponding period last year. The funds of individuals have amounted to more than 11 trillion rubles. Their volume has increased by 1.3 % since the beginning of the year.

“Individuals are growing. This year we are experiencing the good dynamics on consumer loans. The dynamics on the mortgage credit lending has significantly revived from the second half of the year. This is a very positive factor, “- German Gref said at a meeting with the prime minister.

Sberbank has optimistic expectations regarding 2016. An increase in almost all segments, except for business lending, is being expected. “We will see the growth in almost all other segments till the end of the year “, – said Gref.

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