Active retail clients up by 3 million compared to 2018

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Sberbank Europe AG
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Sberbank reports 2019 Net Profit of RUB 845.0 billion (EUR 11.6 billion) under IFRS

Sberbank has released its Annual consolidated IFRS financial statements (hereafter “the Financial Statements”) as at and for the 12 months ended 31 December 2019, with audit report by AO PricewaterhouseCoopers Audit. All information is presented net of Denizbank A.S. operations, unless stated otherwise.

Herman Gref, Chairman of the Executive Board, CEO: “The most important achievement for 2019 was the industrial launch of the new Sberbank Digital Platform and the start of the large-scale migration of our products and services to it. By creating a private Cloud, not only did we increased the level of infrastructure utilization 4-fold, we also started offering Cloud solutions to our clients. The Artificial Intelligence has already become our important business driver: the economic effect of increasing AI use amounted to RUB 42 billion last year.

Better customer experience allows us to widen our client base: the number of active retail clients has grown by 3 million over the year up to 96 million people. We have 54 million monthly active digital users, and 24 million daily active users. We have learned how to convert a growing number of Sberbank Online clients into sales: more than a half of consumer loans and over a third of mortgages are issued in digital channels.

We are focused on the extension of our digital sales experience to Ecosystem products. Last year we defined an Ecosystem framework, adding new digital services to the Sberbank Ecosystem, including food delivery, transportation, job classified and video streaming.

We remain client centric and continually work to improve efficiency on the back of technological development that allowed Sberbank to ensure a return on equity of more than 20%.”

The 2019 Operational and Financial Highlights:

  • The number of active retail clients was up by 3 million for the year and exceeded 96 million;
  • The number of monthly active users (MAU) of mobile App Sberbank Online was up by 11.71 million for the year and exceeded 54 million;
  • The number of daily active users (DAU) of mobile App Sberbank Online increased on about 10 million for the year to 24.7; DAU/MAU improved by 10.5 pp for the year and exceeded 45%;
  • The number of Sberbank active corporate clients was up by more than 300 thousand for the year and exceeded 2.5 million with 45% share of sales in digital channels. MAU in digital channels was up to 2.2 million users;
  • As of the end of 4Q 2019 more than 6 million clients use Sberbank ID, a unified login that provides an access to more than 40 Ecosystem partners, inc. Delivery Club, Okko, Citimobil and other companies.
  • The Group’s 2019 annual financial results were affected by Denizbank sale results recognition took place in the 3Q 2019.
  • The Group net profit including the effect from Denizbank sale amounted to RUB 845,0 billion (EUR 11.6 billion) (+1.6% y/y). The Group net profit from continuing operations was RUB 914.8 billion (EUR 12.6 billion) (+10.1% y/y);
  • The Group earnings per ordinary share (EPS) including the effect from Denizbank sale were RUB 38.55 up by 1.0% y/y. The Group earnings per ordinary share (EPS) based on profit from continuing operations came at RUB 41.80 up by 9.6% compared to 2018;
  • The Group annualized return on equity (ROE) including the effect from Denizbank sale came at 20.5%. The Group annualized return on equity (ROE) based on profit from continuing operations was 22.2%, while. The Group annualized return on assets (ROA) including the effect from Denizbank sale totaled 2.7%, the Group annualized return on assets (ROA) based on profit from continuing operations was 3.1%;
  • The Group net interest income was up by 1.4% to RUB 1,415.5 billion compared to 2018;
  • The Group net fee and commission income was up by 13.6% to RUB 497.9 billion compared to 2018;
  • The Group gross loans increased by 3.2% for the year to RUB 21.7 trn for. Retail loan portfolio grew by 16.8% to RUB7.9 trn, corporate loan portfolio decreased in nominal terms by 3.2% to RUB13.9 trn, the growth in real terms (adjusted for FX revaluation) is 2.8%.
  • The Group Cost-to-Income ratio is 35.8% and up by 0.6pp y/y.

 

The 4Q 2019 Financial Highlights:

  • The Group net profit reached RUB 212.0 billion (EUR 3.0 billion) up by 20.3% compared to 4Q 2018; the Group earnings per ordinary share (EPS) came at RUB 9.9;
  • The Group net interest income was up by 4.6% y/y to RUB 371.0 billion;
  • The Group net fee and commission income was up by 23.6% compared to 4Q 2018 to RUB 148.3 billion;
  • The Group gross loans increased by 2.6% for the quarter to RUB 21.7 trn for. Retail loan portfolio grew by 3.2% to RUB 7.9 trn, corporate loan portfolio also increased by 2.2% to RUB 13.9 trn, the growth adjusted for FX revaluation was 3.6%;
  • The quality of the Group loan portfolio improved: share of Stage 3 and POCI loans came at 7.5%, showing a 41 bp decrease compared to 3Q 2019.

 

You can read the full press release published by Sberbank of Russia here.

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