5 Feb 2016 07:47
Sberbank / MiscellaneousSberbank: Sberbank releases Financial Highlights for 1M 2016 (under RAS;non-consolidated) 05-Feb-2016 / 08:46 CET/CESTDissemination of a Regulatory Announcement, transmitted by EquityStory.RS,LLC - a company of EQS Group AG.The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Sberbank releases Financial Highlights for 1M 2016 (under RAS;non-consolidated) Please note that the numbers are calculated in accordance with Sberbank'sinternal methodology. February 5, 2016 Key highlights for January, 2016: - Interest income increased by 1.7 times y-o-y to RUB84 bn that was the main contributor for the decent financial result. - Fee and commission income growth from transactional business with bank cards and acquiring remained strong. Fee and commission income was up by 32.4%. - Corporate loan portfolio growth exceeded RUB600 bn for the month. - Net profit in January came at RUB28.3 bn. Deputy Chairman of Sberbank Alexander Morozov stated: We delivered a decent financial result while operating on volatile markets.It has demonstrated our ability to generate capital organically, and willallow us to mitigate the impact from negative factors on capital adequacyratios. Analysis of the Statement of Financial Position and Statement of Profit orLoss for 1M 2016, as compared to 1M 2015: - Interest income increased by 3.0% y-o-y, interest expenses decreased by 24.7% y-o-y. Net interest income increased by 67.0% y-o-y - Fee and commission income increased by 32.4% y-o-y - Operating income before total provisions increased by 33.3% y-o-y - Total provision charge was RUB61.6 bn vs. RUB54.9 bn charge for 1M 2015 - Operating expenses increased by 4.3% y-o-y - Net profit before income tax reached RUB31.5 bn vs. RUB9.9 bn for 1M 2015 - Net profit totaled RUB28.3 bn vs. RUB3.7 bn Comments: Net interest income came at RUB84.0 bn in January, +67% compared to thelast year. - Interest income increased by 3.0%, driven by the increase in volumes of working assets. - Interest expenses decreased by 24.7%, due to the reduction of state funding volumes and decrease in market rates. Fee and commission income was up by 32.4% to RUB22.9 bn, mainly driven bytransactional business with bank cards and acquiring, cash settlements aswell as bank insurance (commissions from which were strong, compared toweak results a year ago given the reduced demand for lending in January2015). Subject to the CBR Regulation N446-P from 22/12/2014, creditcommissions are reflected in the Interest income line starting from January1, 2016; the figure for 2015 is restated under the new methodology. Net income from FX revaluation and trading operations on capital marketsamounted to RUB11.5 bn compared to RUB23.1 bn for 1M 2015, where the incomein January 2016 was mostly due to the fx revaluation of the Balance sheetitems. Operating expenses increased by 4.3%. Total provision charges amounted to RUB61.6 bn vs. RUB54.9 bn for 1M 2015.In January 2016 the amount of provision charge was mostly driven by rubledevaluation that required to form additional reserves for FX loans, as wellas the loan portfolio growth. The Bank continues to form loan-lossprovisions in-line with the requirements of the Central Bank of Russia.Loan-loss provisions are 1.9 times the overdue loans. Net profit before income tax came at RUB31.5 bn vs. RUB9.9 bn for 1M 2015.Net profit totaled RUB28.3 bn vs. RUB3.7 bn. Assets in January 2016 remained unchanged and exceed RUB23 trln. Growth ofcorporate loan portfolio was accompanied by the decrease of loans to banks,accounts in settlement, as well as cash reserves that were kept in excessduring the holidays. The revaluation of the FX component due to rubleweakening also made a contribution to the Balance Sheet items. The Bank lent about RUB850 bn to corporate clients in January. The loanportfolio ending balance increased by RUB604 bln, or by 4.9%, in January. Total corporate loan portfolio reached RUB12.9 trln as of February 1, 2016. The Bank lent about RUB80 bn to retail clients in January. Total retailloan portfolio decreased by RUB5 bn, or 0.1%, in January to RUB4.1 trln asof February 1, 2016. Overdue loans of total loans remained at 3.3% in January. The level ofoverdue loans at Sberbank remains substantially lower than the level of thebanking sector's average (6.5% as of January 1, 2016). Securities portfolio was up by RUB56 bn in January, or by 2.4%. Theportfolio ending balance was RUB2.3 trln as of February 1, 2016. Retail deposits and accounts decreased by RUB317 bn in January, or by 2.9%to reach RUB10.5 trln. The entire outflow of funds was from the bankingcards accounts during the holiday period, which is typical for thebeginning of the year. Corporate funding increased by RUB171 bn in January, or by 2.5%, to exceedRUB6.9 trln. Core Tier 1 and Tier 1 capital (equal since Sberbank does not haveinstruments of additional capital) reached RUB1.749 trln as of February 1,2016 under preliminary calculations. Total capital amounted to RUB2.693trln on the same date, primarily due to net profit. Risk-weighted assets increased by RUB1.440 bn, which created pressure oncapital adequacy ratios. The growth of RWA was primarily attributed to thetermination of the forbearance exchange rate that was set by the CentralBank as a measure in capital ratio calculations. Capital adequacy ratios under preliminary calculations as of February 1,2016 were: N1.1 - 7.3% (minimum adequacy level, required by the Central Bank ofRussia at 4.5%) N1.2 - 7.3% (minimum adequacy level, required by the Central Bank ofRussia at 6.0%) N1.0 - 11.2% (minimum adequacy level, required by the Central Bank ofRussia at 8.0%). Sberbank 1M 2016 Financial Highlights (under RAS, non-consolidated) --------------------------------------------------------------------------- 05-Feb-2016 The EquityStory.RS, LLC Distribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases.Media archive at www.dgap.de/ukreg --------------------------------------------------------------------------- Language: English Company: Sberbank 19 Vavilova St. 117997 Moscow Russia Phone: +7-495-957-57-21 E-mail: media@sberbank.ru Internet: www.sberbank.ru ISIN: US80585Y3080, RU0009029540, RU0009029557, US80585Y4070 Listed: Open Market (Entry Standard) in Frankfurt ; London, MICEX, RTS Category Code: MSC TIDM: SBER Sequence Number: 2994 Time of Receipt: 05-Feb-2016 / 08:15 CET/CEST End of Announcement EquityStory.RS, LLC News Service --------------------------------------------------------------------------- 435051 05-Feb-2016UK-Regulatory-announcement transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.