Results are driven by fee income growth and efficiency improvement
Mag. Linda Michalech
Corporate Communications Manager
Sberbank Europe AG
Tel.: +43 1 22732 1300
Mobile: +43 664 8891 3662
linda.michalech@sberbank.at
Sberbank Group has released its interim condensed consolidated IFRS financial statements for the first six months of 2018 (as of 30 June 2018), with report on review by AO PricewaterhouseCoopers Audit. All information is presented net of Denizbank A.S. operations, unless stated otherwise.
Alexander Morozov, Deputy Chairman of the Executive Board, CFO, commented: “Sberbank delivered strong 2Q 2018 results, securing ROE over 24% and earnings per share growth over 14% y/y. Despite the increased market volatility and external challenges Sberbank takes firm steps toward achieving its Strategy 2020 goals: the number of active retail digital channel users exceeds 60 million, the number of active corporate digital channel clients is over 1.7 million, while the share of online sales of certain products exceeds 40%. In 2Q 2018, Sberbank showed an outpacing growth in net fees and commissions and improvement in operating efficiency. The first half results and current business dynamics form a foundation for an upside revision of our 2018 targets.”
The full press release published by Sberbank of Russia is available here.