Gref: 2021 to be one of Sberbank's most successful years yet, net profit to top 1 trln rubles

MOSCOW. Oct 26 (Interfax) - Sberbank's net profit will exceed 1 trillion rubles in 2021, the bank's president and chairman of the management board, Herman Gref, said during a meeting with Russian President Vladimir Putin.

"This year, we will likely exceed a trillion rubles by the end of the year. In this respect, this year is likely to be one of our most successful," Gref said.

He noted the continuing recovery of the Russian economy, revitalization of industry, and higher demand for credit resources.

"Our initial assumptions for lending growth were significantly less optimistic," Gref said.

It was reported earlier that Sberbank had boosted net profit to Russian Accounting Standards (RAS) 1.7-fold to 936.7 billion rubles in 9M 2021. The lender will present its financial results to International Financial Reporting Standards (IFRS) on Thursday, October 28.