The Group net profit up by 11.1% compared to 2017.

The Group net profit up by 11.1% compared to 2017.

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Mag. Linda Michalech
Corporate Communications Manager

Sberbank Europe AG
Tel.: +43 1 22732 1300
Mobile: +43 664 8891 3662
linda.michalech@sberbank.at

Sberbank reports 2018 Net Profit of RUB 831.7 bn (EUR 11.3 bn) under IFRS

Sberbank has released its Annual consolidated IFRS financial statements as at and for the 12 months ended 31 December 2018, 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, commented: “2018 was an important year for Sberbank. Not only did we report a record net profit and reach a Return-on-Equity of over 23%, we also successfully completed the first year of the execution of our Strategy 2020. Furthermore, we embraced the ambitious challenge of carrying out our technological transformation. We completed the revision of all major IT initiatives, hired experienced IT experts, radically redesigned our production process, and integrated our businesses with IT in order to develop our platform.

We learnt to implement changes faster, improve our processes and products faster, making them more convenient and time-saving for our clients. Yet we have a long way to go in perfecting client experience, introducing new services to the Sberbank platform and developing new skills among our team in order to build a data-driven company with a high level of collaboration. The achievement of our strategic goals is the key to our confidence in facing external challenges and to providing for the sustainable growth of shareholder value.”   

The 2018 Financial Highlights:

  • The Group net profit reached RUB 831.7 bn (EUR 11.3 bn), up by 11.1% compared to 2017
  • The Group earnings per ordinary share (EPS) from continued operations came at RUB 38.13 per share, up by 15.4% compared to 2017
  • The Group annualized return on equity (ROE) reached 23.1%, while the Group annualized return on assets (ROA) reached 3.2%
  • Net fee and commission income increased by 18.1% y/y to RUB 445.3 bn
  • The Group loan portfolio (includes loans at amortized cost and at fair value) increased by 16.5% to RUB 21.1 trn. Retail loan portfolio increased by 25.0%, up to RUB 6.8 trn, while corporate retail loan portfolio expanded by 12.9%, up to RUB 14.3 trn.

 

The 4Q 2018 Financial Highlights:

  • The Group net profit reached RUB 176.2 bn (EUR 2.4 bn) up by 2.2% as compared to 4Q 2017, and the Group earnings per ordinary share (EPS) came at RUB 8.4 per share,
  • The quality of the Group loan portfolio improved: share of Stage 3 and POCI loans came at 8.1%, showing a decrease of 0.3% compared to 3Q 2018
  • Client deposits portfolio increased by 5.1% up to RUB 20.9 trn compared to 3Q 2018 with retail deposits up by 7.1% and corporate deposits – by 1.6%.

 

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

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