Sberbank’s net profit grew by 15.6% in January

The largest bank in the Russian Federation announced the end of January with an increase in net profit in annual terms by 15.6%. It reached the amount of 100.2 billion rubles. Profit, excluding tax transfers, increased by 15% to 123.5 bln. rubles. The increase in retail lending contributed to the growth of net interest income to 148.7 bln. rubles, or almost 15%. Growth in the card’s transaction volume made it possible to increase net fee and commission income by 7.6% to RUB 39.7 bln. The total operating expenses of the SB increased in the reporting month to 49.1 bln. rubles, which is 10.7% more than in 2021. The significant increase in Sberbank’s expenses is explained by the indexation of the salaries of its employees against the backdrop of high inflation. The overdue loans share did not change compared to the same month in 2021. It amounted to 2.4%. According to the financial director of the bank Alexandra Buriko, Sberbank was able to end the month with strong results, despite the difficult market situation.

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Arseny Kudrin

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