Sberbank’s net profit under IFRS in 2022 fell 4.5 times

Sberbank in 2022 received 270.5 billion rubles. net profit under international financial reporting standards (IFRS), follows from data jar. This is 78.2% or 4.5 times less than a year earlier (1.246 trillion rubles). The head of Sberbank, German Gref, said that “the achieved margin of safety” allows us to return to consideration of the issue of paying dividends for 2022.

According to the financial institution’s financial statements, Sberbank’s profit per ordinary share amounted to 12.39 rubles. (also 78.3% less year-on-year). At the same time, the bank increased its capital by 3%, to 5.8 trillion rubles. It has 106.7 million active retail clients and over 3 million active corporate clients.

Mr. Gref claims that the bank “implemented the anti-crisis plan: radically revised priorities, introduced austerity measures, closed and sold international businesses, and also created all the necessary reserves for the loan portfolio and blocked assets.” “The achieved margin of safety allows us to return to consideration of the issue of paying dividends for 2022,” he added.

March 7 German Gref Meets with President Vladimir Putin, they discussed the activities of the bank. Mr. Gref said that Sberbank “had a very difficult period”, but, according to him, the bank “ended its period of unprofitability.” Nevertheless, its shareholders for the first time since 2000 decided not pay dividends for 2021.

Laura Keffer