Sberbank earned 350.2 billion rubles of profit for the first quarter of 2023
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In the first quarter of 2023, Sberbank received 350.2 billion rubles. net profit under RAS, 125.3 billion rubles. of which the credit institution received in March. Also last month, Sberbank managed to issue retail loans in excess of 660 billion rubles. This is the highest figure in the history of the bank.
“March has become the best month for Sber since the beginning of the year. We have disbursed more than RUB 660 billion and have grown our portfolio of loans to corporate clients, while maintaining the quality of the portfolio at a high level. As a result, Sberbank earned a profit of more than 125 billion rubles, which made it possible to complete the first quarter with a profitability of 24%, ”are given in press release words of the head of Sberbank German Gref.
From the reduced results of Sberbank, it follows that since the beginning of this year, the retail loan portfolio has grown by 4.7% and exceeded 12.6 trillion rubles. (+2.3% in March). The corporate loan portfolio grew by 4% since the beginning of 2023 and exceeded RUB 19.5 trillion. In March, 1.4 trillion rubles were issued to corporate clients. (+1.6%).
Sberbank’s net interest income increased by 22.4% over the three months to RUB 517.1 billion. (+32.9% in March). The accelerated growth in the credit institution was explained by the rise in the cost of client funds in March 2022 after the Bank of Russia raised the key rate.
The number of retail clients of Sberbank amounted to 106.2 million people, and legal entities exceeded 3 million companies. Sberbank notes that it achieved its financial results without using the Bank of Russia’s indulgences.
From January to February 2023 Sberbank earned 225 billion rubles net profit. German Gref noted that one of the drivers of profit growth was the increasing growth in mortgages since the beginning of 2023. At the end of 2022, Sberbank received a record profit of 1 trillion 246 billion rubles.
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