Sberbank boosts net profit to RAS to 267 bln rubles in Jan-Feb, 134 bln rubles in Feb

MOSCOW. March 11 (Interfax) - Sberbank increased its net profit to Russian Accounting Standards (RAS) 13.5% in January-February 2025 to 267.3 billion rubles, compared to 235.5 billion rubles for the same period of 2024, the bank said.

Net profit for February 2025 amounted to 134.4 billion rubles, up 11.6% compared to a year earlier when the figure was 120.4 billion rubles.

Return on equity in January-February 2025 rose to 23.2% from 21.7% a year earlier. In February, the figure was 24.3%, compared to 22.8% a year earlier.

"In February, the trend towards portfolio reduction that began at the end of last year continued. Amid high interest rates in the economy and restrictions from the Central Bank of Russia, corporate and retail lending decreased 0.1% and 0.4%, respectively, for the month in real terms. At the same time, Sberbank, thanks to maintaining high operational efficiency, was able to increase net profit 13.5% year-on-year to 267.3 billion rubles for the first two months and improve the bank's total capital adequacy ratio by 0.4 percentage points to 13.2%," Sberbank President and Management Board Chairman Herman Gref was quoted as saying.