Sberbank ups RAS earnings 9.4% in Jan
MOSCOW. Feb 7 (Interfax) - Sberbank boosted net profit to Russian Accounting Standards (RAS) 9.4% year-on-year in January to 29.2 billion rubles, the bank said in a statement.
Profit before tax rose 13.1% to 33.37 billion rubles.
Net interest income was up 13.1% to 33.27 billion rubles and interest spending rose 19.4%. Net commission grew 16% to 11.79 billion rubles, driven by bank card transactions.
Spending on financial, market transactions rose to 5.7 billion rubles in January this year, from 0.2 billion rubles in January 2011.
Loan-loss provision charges were 5.5 Billion rubles in January 2012, compared with 5.6 billion rubles in January last year.
Operating costs grew 22.3% to 16.29 billion rubles due to higher spending on personnel and business development.
Assets grew more than 100 billion rubles or 1% during January to 10.57 trillion rubles.
The corporate loan book grew 0.6% in January to 6.429 trillion rubles. The bank issued 400 billion rubles in corporate loans in January. The retail loan book grew 1.8% to 1.81 trillion rubles, and the bank issued just over 80 billion rubles in these loans.
The NPL ratio fell slightly, to 3.35% on February 1, from 3.36% on January 1. Loan-loss provisions were 642 billion rubles as of February 1, up 1.7% from a year previously and 2.3 times past-due debt.
Investment in securities fell 1.7% to 1.461 trillion rubles after some federal loan bond (OFZ) series were redeemed. Government bonds accounted for 51% and corporate bonds for 31% of the securities portfolio as of February 1.
Personal deposits, which soared in December, fell 2.3% in January to 5.547 trillion rubles, which is customary for the start of a year. Corporate deposits were almost unchanged at 2.171 trillion rubles.
Regulatory capital rose by 22.7 billion rubles or 1.l5% in January to 1.55 trillion rubles on net profit increase. The bank's capital adequacy ratio stood at 15.2% as of February 1, unchanged from January 1.
