5 Aug 2016 08:36
Sberbank / Miscellaneous - Medium PrioritySberbank: Sberbank releases Financial Highlights for 7M 2016 (under RAS;non-consolidated) 05-Aug-2016 / 09:36 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 7M 2016 (under RAS;non-consolidated)Please note that the numbers are calculated in accordance with Sberbank'sinternal methodology.August 5, 2016Key highlights for July, 2016:* The Bank earned net profit of RUB45.6 bn in July* Corporate loan portfolio increased by RUB249 bn in July, retail loanportfolio - by RUB15 bn* Loan To Deposit Ratio (LDR) increased by 1.3% to 88.9% in JulyDeputy Chairman of Sberbank Alexander Morozov stated: 'Net profit exceeded RUB45 bn in July. The result was driven by growth incustomer businesses, resulting in the growth of the bank's market share inmajor markets: loans to individuals (+1.1 ppt in the first half of theyear), loans to legal entities (+0.3 ppt), retail deposits (+0.3 ppt)'Comments for 7M 2016:Net interest income came at RUB640.4 bn, up by 57.3% compared to 7M 2015:Interest income increased by 7.4%, mostly driven by the increase in volumesof working assets; Interest expenses came down by 21.5% due to thesubstitution of state funding with clients' funds and the decrease inmarket rates compared to 7M 2015.Fee and commission income was up by 23.5% to RUB171.4 bn, driven bytransactional business with bank cards and acquiring, cash settlements aswell as bank insurance.Net income from FX revaluation and trading operations on capital marketsamounted RUB11.3 bn in July due to the fx revaluation of the balance sheetitems as a result of ruble devaluation.Operating expenses increased by 10.1%, which was significantly slower thanpre-provision operating income growth (37.3%). The increase in operatingexpenses was driven by continuing indexation of wages and amortization.Cost-to-Income ratio decreased from 40.7% for 7M 2015 to 32.7% for 7M 2016.Total provision charges amounted to RUB193.9 bn vs. RUB220.7 bn a year ago.The Bank continues to form loan-loss provisions in-line with therequirements of the Central Bank of Russia. Loan-loss provisions remained2.1 times the overdue loans.Net profit before income tax came at RUB349.7 bn vs. RUB127.8 bn for 7M2015. Net profit totaled RUB275.0 bn, which was 3 times higher than theresult for 7M 2015.Total comprehensive income which includes the income from revaluation offinancial assets available-for-sale and held-to-maturity, amounted toRUB329.3 bn.Assets in July increased by 0.4% mainly due to revaluation of the foreigncurrency denominated assets on the back of ruble depreciation.The Bank lent about RUB700 bn to corporate clients in July. Corporate loanissues from the beginning of the year exceeded RUB4.7 trln, up by 61%compared to 7M 2015. The loan portfolio ending balance increased by RUB249bn, or by 2.1% to exceed RUB12.0 trln as of August 1, 2016. The growth wasdriven by new issues as well as by revaluation of earlier issued foreigncurrency denominated loans.The Bank lent about RUB120 bn to retail clients in July. Retail loan issuesfrom the beginning of the year exceeded RUB830 bn, up by 31% compared to 7M2015. Total retail loan portfolio increased by RUB15.2 bn in July and stoodat RUB4.2 trln as of August 1, 2016. The share of mortgages in retailportfolio continues to grow and reached 56% as of August 1, 2016.Overdue loans of total loans remained at 3.2% in July, which issubstantially lower than the level of the banking sector's average (6.9% asof July 1, 2016).Securities portfolio was up by RUB94 bn in July mainly due to increase inOFZ bonds portfolio as well as foreign currency and rate revaluation of theportfolio. The portfolio ending balance was RUB2.45 trln as of August 1,2016.Retail deposits and accounts increased by RUB157 bn in July to exceedRUB11.0 trln, while corporate deposits and accounts were down by RUB114 bnto RUB6.1 trln. Total deposits and accounts increased marginally (by 0.3%)to RUB17.1 trln as of August 1, 2016.The share of funds borrowed from the Central Bank (excluding thesubordinated loan) in total liabilities remained immaterial at 0.4% as ofAugust 1, 2016.Core Tier 1 and Tier 1 capital (equal since Sberbank does not haveinstruments of additional capital) reached RUB1,894 bn as of August 1,2016. Total capital amounted to RUB2,812 bn as of August 1, 2016, up byRUB36 bn due to the net profit earned.Risk-weighted assets increased by RUB262 bn in July mainly due to thegrowth of corporate loan portfolio.Capital adequacy ratios as of August 1, 2016 were:* N1.1 - 8.0% (minimum adequacy level, required by the Central Bank ofRussia at 4.5%)* N1.2 - 8.0% (minimum adequacy level, required by the Central Bank ofRussia at 6.0%)* N1.0 - 11.8% (minimum adequacy level, required by the Central Bank ofRussia at 8.0%). Sberbank 7M 2016 Financial Highlights (under RAS, non-consolidated) --------------------------------------------------------------------------- The EquityStory.RS, LLC Distribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases.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, Moscow Category Code: MSCM TIDM: SBER Sequence Number: 3297 Time of Receipt: 05-Aug-2016 / 09:36 CET/CEST End of Announcement EquityStory.RS, LLC News Service --------------------------------------------------------------------------- 489741 05-Aug-2016UK-Regulatory-announcement transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.