Sberbank Made Record 2018 Profit; 4Q Interest Income Fell

Date : 02/28/2019 @ 8:15AM
Source : Dow Jones News
Stock : Sberbank Russia (PK) (SBRCY)
Quote : 15.1575  0.2725 (1.83%) @ 8:32PM

Sberbank Made Record 2018 Profit; 4Q Interest Income Fell

Sberbank Russia (PK) (USOTC:SBRCY)
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By Adam Clark

 

Sberbank Rossia (SBER.MZ) said Thursday that it made a record net profit in 2018 despite slower growth in the final quarter.

The Russian bank said its fourth-quarter net profit came to 176.2 billion rubles ($2.68 billion), up 2.2% from the year-earlier quarter. Net interest income fell 0.7% but this was offset by 8.4% growth in net fee-and-commission income.

Sberbank made a net profit of RUB831.7 billion for 2018 overall, up 11% from the prior year. Earnings per share rose 15% to RUB38.13.

Total loans rose 17% to RUB21.1 trillion, with strong growth in both retail and corporate loans.

 

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

 

(END) Dow Jones Newswires

February 28, 2019 03:00 ET (08:00 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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