Sberbank ups RAS net profits 5.5% in 11M
MOSCOW. Dec 6 (Interfax) - Sberbank of Russia increased its net profits to Russian Accounting Standards (RAS) by 5.5% to 350.5 billion rubles from 332.27 billion rubles for the same period of last year, the bank said in a statement.
The setting-aside of reserves cost the bank 113.5 billion rubles versus 41.6 billion rubles in January-November last year. November reserves amounted to 13.9 billion rubles.
The bank's cost to income ratio was 38.9%, down from 40.3%.
Net interest income rose 16.2% to 652.3 billion rubles.
Past-due debt in November contracted 2.5%. The bank's capital amounted to 1.966 trillion rubles on the first of this month, up 30 billion rubles due to net profits over the preceding month, according to the latest figures. But capital growth was restrained by the revaluation of investment in the bank's subsidiary companies, the bank said.
Net commission income was 198.7 billion rubles, up 14.5%. Commission income not associated with crediting increased more than net interest income, the bank said.
Pretax profits for the period were 430.7 billion rubles versus 418.4 billion rubles in January-November last year.
Sberbank's corporate credit portfolio grew 10.7% over the eleven months to 8.256 trillion rubles from 7.459 trillion rubles at the start of this year. Its retail credit portfolio expanded 27.9% to 3.239 trillion rubles from 2.529 trillion rubles.