Sberbank announced the restoration of profitability
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Since the beginning of the year, Sberbank’s net profit has exceeded 50 billion rubles, follows from the reporting under RAS, which was announced by the head of the bank German Gref. In October, the bank earned 122.8 billion rubles. The retail portfolio has grown by 9% since the beginning of the year, and the corporate portfolio by 11.9%. The volume of loans issued has returned to the level of the 2nd half of 2021. In January-October 2021, Sberbank’s net profit amounted to RUB 1.05 trillion.
“In the second half of the year, we see a stabilization of the level of risk, and the cost of reserves for the total loan portfolio is returning to the pre-crisis level,” Mr. Gref said at the Finopolis forum.
Sberbank also announced that it is returning to regular disclosure of information and will publish the results at the end of each month.
“We have about 2 million retail shareholders, and their number is growing. It is important for us that investors have the opportunity to appreciate our business,” the bank noted.
The news is being supplemented
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