Sberbank First-Quarter Net Profit Rose

Date : 04/30/2019 @ 8:19AM
Source : Dow Jones News
Stock : Sberbank Russia (PK) (SBRCY)
Quote : 13.87  -0.85 (-5.77%) @ 2:56PM

Sberbank First-Quarter Net Profit Rose

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

 

Sberbank Rossia (SBER.MZ) said Tuesday that its net profit rose in the first quarter of 2019 on rising income.

Russia's largest bank made a quarterly net profit of 226.6 billion rubles ($3.51 billion), up 6.8% from the year-earlier quarter. Profit from continuing operations rose 0.4% to RUB226.1 billion.

Operating income climbed 7.5% to RUB481.8 billion, driven by an 11% increase in net fee-and-commission income to RUB104.5 billion and a sharp increase in other non-interest income. Net interest income rose 1.2% to RUB337.5 billion.

Sberbank's annualized return on equity for the quarter declined to 22.9% from 24.2%. Its Common Equity Tier 1 ratio--a key measure of balance-sheet strength-- improved to 12.6% as of March 31 from 11.9% at the start of the quarter.

 

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

 

(END) Dow Jones Newswires

April 30, 2019 04:04 ET (08:04 GMT)

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

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