PJSC Sberbank: SberBank Releases Financial Highlights for 9 Months of 2021 (Under RAS, Unbound)

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The numbers are calculated according to SberBank internal methodology.

Please note that some minor changes came into effect in SberBank’s internal methodology from January 1, 2021. Therefore, the figures for 2020 have been recalculated to make them comparable.

Highlights for the month of September:

  • SberBank made a net profit of 109.1 billion rubles.

  • ROE stood at 26.0% and ROA at 3.7%.

  • The personal loan portfolio topped 10 billion rubles and grew 2.2 percent on the month on record loan production of 534 billion rubles.

  • Customer financing increased 1.7%, excluding the effect of currency revaluations.

  • The number of active subscribers to SberPrime has increased to 3.3 million.

Alexandra Buriko, Chief Financial Officer, said:

“In the first 9 months of 2021, SberBank achieved a net profit of 937 billion rubles and an ROE of 25.5%. In September, around 29 million retirees and military personnel each received a one-time payment from the l ‘Status on their SberBank accounts. Along with the accompanying State -Measures, our clients can also take advantage of the product and service offerings that we have launched in the Sber ecosystem. These measures, coupled with the organic growth of the activity, led to an increase in the number of active subscribers to SberPrime to 3.3 million.

Comments for 9M 2021:

Net interest income amounted to 1,184.2 billion rubles for 9M 2021, and was up 12.2% from the same period a year ago. Growth is due to the expansion of the loan portfolio and higher yields on variable rate assets as well as the market rate cycle.

Net fee and commission income increased 16.1% to RUB423.5 billion. Growth is mainly driven by bank card transactions and acquisition. The ad hoc distribution of public funds to retirees and the military had an additional positive impact on the transactional activity of clients.

Operating Expenses increased by 10.9% compared to 9M 2020 and amount to RUB 485.1 billion. The growth in operating expenses was impacted by the revision of employee salaries in July, as well as by the calendarization of expenses in 2021. Cost-income ratio arrived at 27.9%.

Total provision charge including revaluation at fair value totaled 98 billion rubles for 9M 2021, 5 times less than the charge of a year ago, when SberBank took important steps due to the worsening macroeconomic environment and pandemic constraints. In September 2021, the provision charge stood at 2.4 billion rubles, including a write-back of 4.5 billion rubles of provisions due to the strengthening of the ruble against major currencies. The share of overdue loans in the total loan portfolio remained at 2.3%.

Provisions for loan losses were 2.8 times overdue loans.

Net profit before income tax for 9M 2021 amounted to 1,155.9 billion rubles. Reportprofit increased 1.7 times and amounted to 936.7 billion rubles.

Total assets in September increased by 0.9%, net of currency revaluation, to exceed 36.4 billion rubles in loans.

The total loan portfolio rose 1.5%, net of currency revaluation, in September to exceed 26.1 billion rubles.

The Bank issued 1.2 billion rubles in loans to customer base in September, more than 9.9 billion rubles for 9M 2021, an increase of 1.0% in September, or 4.6% since the beginning of the year, net of the revaluation of currencies. The business loan portfolio exceeded 16 billion rubles as of October 1, 2021.

Production loan to retail customers in September it hit a record 534 billion rubles, including 274 billion rubles in unsecured consumer loans and around 260 billion rubles in mortgages. Various programs with developers, support programs and digital services improve the availability of mortgages.

The retail portfolio increased by 2.2% in September to exceed 10 billion rubles as of October 1, 2021.

The securities portfolio fell 0.2% to 5,156.3 billion rubles in September, due to the redemption of corporate bonds and the revaluation of Eurobonds.

Financing of individual customers rose 1.2%, net of currency revaluation, in September to 16.3 billion rubles, in part due to a one-time distribution of public funds in September. The closing balances of escrow accounts continued to grow, supported by high volumes of mortgages, and exceeded 1.3 billion rubles as of October 1, 2021.

Financing of client companies in September, it rose 2.6%, net of currency revaluations, mainly term deposits, to 8.5 billion rubles.

Total client funding in September rose 1.7% net currency revaluation to 24.8 billion rubles.

In September, for the first time, SberBank placed zero coupon bonds in the amount of 15 billion rubles, with a term of 3.5 years.

Basic level 1 and Tier 1 capital changed insignificantly in September to RUB 3,819 billion and RUB 3,969 billion, respectively.

Total capital in September rose 87 billion rubles, or 1.8%, mainly due to profits for the period.

CET1 and T1 capital ratios were 11.17% and 11.61% respectively on October 1, 2021. The calculation of the ratios does not include the net profit realized during the period between January and September 2021 inclusively, until it is audited, in accordance with CBR 646-P regulation on the methodology for determining the amount of capital adequacy of credit institutions (Basel III).

Risk-weighted assets * in September were simply unchanged.

Capital, billion RUB

1 Oct 21 *

1 Sep 21

1 oct21 * / 1 sept21

1 Jan21

1 Oct 21 * / 1 Jan 21

Tier 1 base capital N1.1

3,819

3,826

-0.16%

3,581

6.65%

Tier 1 capital N1.2

3 969

3 976

-0.16%

3,731

6.38%

Total capital N1.0

5,016

4,929

1.77%

4,661

7.63%

Equity ratios,%

Tier 1 capital base N1.1, min 4.5%

11.17%

11.19%

-0.02 points

11.19%

-0.02 points

Tier 1 capital N1.2, min 6.0%

11.61%

11.63%

-0.02 points

11.66%

-0.05 pp

Total capital N1.0, min 8.0%

14.65%

14.40%

0.25 pp

14.54%

0.11 pp

Risk-weighted assets, billion RUB

34 232

34 228

0.01%

32,042

6.83%

* preliminary calculations

Sberbank Financial Highlights for 9 Months 2021 (under RAS, Unbound)

Disclaimer

Sberbank of Russia published this content on 07 October 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 07 October 2021 07:06:03 AM UTC.


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