Sberbank Closes Strong 2019, Confident for 2020

Date : 01/15/2020 @ 8:19AM
Source : Dow Jones News
Stock : Sberbank Russia (PK) (SBRCY)
Quote : 15.8699  -0.1586 (-0.99%) @ 9:04PM

Sberbank Closes Strong 2019, Confident for 2020

Sberbank Russia (PK) (USOTC:SBRCY)
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2 Months : From Dec 2019 to Feb 2020

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By Sabela Ojea

 

Sberbank Rossia (SBERP.MZ) said on Wednesday that it expects to meet its targets for 2020 after making 870.1 billion rubles ($14.2 billion) in net profit for 2019, an increase of 11% compared with the year-earlier period.

The Russian bank added that net profit was RUB55.9 billion last month, and said that it closed the year with a rise in net interest income of 0.6% to RUB1.26 trillion.

The bank also said that it issued over RUB16.3 trillion loans in the year ended Dec. 31, with over RUB2.5 trillion in loans coming from December.

Sberbank said that total assets came in at RUB27.7 trillion, a decrease of 0.5% due to ruble appreciation, the bank said.

Its pro-forma Common Equity Tier 1 ratio--a key measure of balance-sheet strength--slightly fell to 10.65% from 10.87%.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

January 15, 2020 03:04 ET (08:04 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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