Sberbank Rossia 3Q Net Profit Rose
October 28 2021 - 3:59AM
Dow Jones News
By Sabela Ojea
Sberbank Rossia reported on Thursday a rise in net profit for
the third quarter of 2021 and said that it benefited from growth
momentum across all of its key business segments.
The Russian bank posted a net profit of 348.3 billion Russian
rubles ($4.93 billion), rising 28.3% on a year-on-year basis.
Net interest income for the quarter increased to RUB469.6
billion, up 14.2% on a year-on-year basis, it added.
Sberbank's return on equity reached 26.8%, it said, adding that
it expects a full-year return on equity of above 23%.
In the banking business, the retail loan portfolio is expanding,
with corporate lending accelerating along with improvements in the
asset quality, the lender said. The payment business is driven by
client transactional activity, it added, noting that the wealth
management and insurance businesses are developing rapidly on the
back of new product launches.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
October 28, 2021 03:44 ET (07:44 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.