Sberbank boosts RAS net profit to 1.445 trln rubles in 11M, 117 bln rubles in Nov

MOSCOW. Dec 10 (Interfax) - Sberbank boosted net profit to Russian Accounting Standards 4.9% year-on-year to nearly 1.445 trillion rubles in 11M 2024 from nearly 1.378 trillion rubles in 11M 2023, the lending institution said in a financial statement.

Net profit increased 1.6% year-on-year to 117.3 billion rubles in November 2024 from 115.4 billion rubles in November 2023.

Return on equity totaled 23.7% in 11M 2024 and 21.3% in November.

Expenses on reserves and credit valuation adjustments assessed at fair value rose 22.4% to 713.3 billion rubles in 11M, and the figure totaled 148 billion rubles in November, with the depreciating ruble substantially affecting the dynamics.

The cost of credit risk totaled 1.4% in 11M excluding the effect of exchange rate fluctuations.