8 Nov 2012 05:22
Sberbank / Miscellaneous 08.11.2012 07:22 Dissemination of a UK Regulatory Announcement, transmitted byEquityStory.RS, LLC - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.--------------------------------------------------------------------------- Sberbank releases Financial Highlights for 10M 2012 (under RAS;non-consolidated)Please note that the numbers are calculated in accordance with Sberbank'sinternal methodology. November 8, 2012 Income Statement Highlights for 10M 2012 (as compared to 10M 2011): - Net interest income grew 25.4% y-o-y - Net fee and commission income grew 15.5% y-o-y - Operating income before total provisions increased by 23.9% y-o-y - Total provision charge was RUB42 bn vs. provision release of RUB6 bn for 10M 2011 - Operating expenses were up by 21.7% y-o-y - Profit before tax amounted to RUB375 bn vs. RUB338 bn for 10M 2011 - Net profit totaled RUB297 bn vs. RUB276 bn for 10M 2011 Net interest income grew 25.4% y-o-y for 10M 2012: - Interest income increased by RUB211 bn due to growth of corporate and retail lending; - Interest expenses increased by RUB105 bn, in comparison with the same period last year, owing to increased fund-raising and higher interest rates on corporate funds and interbank market. Net fee and commission income grew by over RUB21 bn, due to expansion offee-generating banking services with fees from plastic cards and acquiringservices being the largest contributor: almost RUB18 bn for 10M 2012. Net gains from operations on financial markets totaled about RUB21 bn for10M 2012, out of which RUB14 bn was earned on conversion operations. Total provision charges amounted to RUB42 bn for 10M 2012, up by RUB2 bnfor the month due to provisions created against loan portfolio. Operating expenses increased by 21.7% y-o-y for 10M 2012. The main driversof the increase were planned expenses related to investments, and spending,associated with the realization of the Bank's Strategic TransformationPlan. Operating income before provisions outpaced growth in operatingexpenses (23.9% vs. 21.7%, respectively). Cost-to-income ratio stood at41.9%. Profit before tax totaled RUB375 bn and net profit amounted to RUB297 bnfor 10M 2012. Both figures exceeded those for the same period a year ago. The Bank's assets grew by 22.9% YTD, close to RUB13 trln. In October,assets increased by 4.4%, primarily due to lending to clients and otherbanks. The Bank lent about RUB550 bn to corporate clients for the month and aboutRUB4.6 trln YTD, which was 1.1 times that for 10M 2011. Corporate loanportfolio increased by 2.4% in October to over RUB7.2 trln. Retail customers were granted about RUB150 bn in October, and about RUB1.6trln YTD, which was 1.7 times greater than for 10M 2011. Retail loanportfolio grew 2.0% in October to exceed RUB2.4 trln. Lending to other banks increased by 1.5 times in October to RUB0.4 trln asthe Bank used excess liquidity for short-term interbank operations. Quality of the loan portfolio remained virtually unchanged in October:overdue loans accounted for 3.0% of the total loan portfolio. Coverageratio remained strong, with loan-loss provisions at RUB636 bn, or 2.2 timesthe overdue loans as of November 1, 2012. Securities portfolio exceeded RUB1.65 trln, up 4.4% m-o-m as the Bankacquired an OFZ issue and corporate bonds in October. Retail deposits increased by 0.3% m-o-m in October, led by savingcertificates that currently offer more attractive terms as compared todeposit offerings. The balance of saving certificates increased by 17% orRUB24 bn for the month. Retail deposits and accounts remained the key source of funding for theBank and grew 8.3% or RUB0.5 trln YTD to over RUB6.1 trln. Corporate deposits and accounts increased by 7.8% in October, led by termdeposits. As of November 1, 2012, the balance of corporate deposits andaccounts was close to RUB3 trln, up 35.2%, or by RUB0.8 trln YTD. The Bank tapped international capital markets in October by raising: - USD1.5 bn in a syndicated loan for 3 years, which was one of the largest transactions among Russian banks this year and priced at record terms under the current market conditions; - USD2 bn in subordinated bonds for 10 years, which will be accounted for in the regulatory capital as per agreement with the Bank of Russia and thus improve the capital adequacy ratio reduced recently by the acquisition of DenizBank. Regulatory capital (under CBR regulation No. 215-P) increased by RUB26 bnin October to RUB1,572 bn. Net profit remained the key source of capitalgeneration. Capital adequacy ratio was at 12% as of November 1, 2012. Sberbank's Financial Highlights for 10M 2012 (under RAS; non-consolidated): http://sbrf.ru/common/_en/img/uploaded/files/info/info_08112012_en_fn3v3sd.pdf Sberbank's internal methodology: http://www.sberbank.ru/common/_en/img/uploaded/files/info/internal_methodology_guide.pdf 08.11.2012 EquityStory.RS, LLC's Distribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: EnglishCompany: Sberbank 19 Vavilova St. 117997 Moscow RussiaPhone: +7-495-957-57-21Fax: E-mail: media@sberbank.ruInternet: www.sberbank.ruISIN: US80585Y3080, RU0009029540, RU0009029557Listed: Frankfurt in Open Market (Entry Standard) ; MICEX, RTSCategory Code: MSCLSE Ticker: SBERSequence Number: 1260Time of Receipt: Nov 08, 2012 07:22:35 End of Announcement EquityStory.RS, LLC News-Service ---------------------------------------------------------------------------UK-Regulatory-announcement transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.