Sberbank 2020 Net Profit Came in at RUB781.60 Billion
January 15 2021 - 3:03AM
Dow Jones News
By Sabela Ojea
Sberbank Rossia said Friday that it earned 781.60 billion
Russian rubles ($10.63 billion) in net profit for 2020, adding that
total assets under management increased significantly.
The Russian bank said pretax net profit came in at RUB966.7
billion, and that net interest income increased 14% to RUB1.441
trillion when compared with the previous year.
"Interest income growth was driven by loan expansion, lower cost
of funding on the back of reductions in the key rate and reduced
allocations to deposit insurance fund," it said.
Total assets increased by 20% over the period, and amounted to
RUB33.1 trillion as at Jan. 1, 2021, it added.
The lender also said that its corporate loan portfolio grew by
16% in the year, with the retail loan portfolio growing by 17%.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
January 15, 2021 02:48 ET (07:48 GMT)
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