Page 72 - bne IntelliNews monthly country report Russia February 2024

8.1.8 Sberbank news
Sberbank, Russia's leading bank, reported a 7.4% y/y decline in net profit for November, amounting to 115.4bn rubles, as per Russian Accounting Standards (RAS), according to a report released on Monday.
However, the bank showcased a robust performance in the broader timeframe of January to November, with its net profit surging by an impressive 7.9 times to reach 1.378 trillion rubles.
In terms of loan portfolios, the retail sector witnessed a 2.5% growth in November, reaching 731bn rubles, while the corporate loan portfolio experienced a 0.7% increase, totaling 23 trillion rubles.
Individual deposits showed resilience, recording a 0.5% monthly growth and an impressive 16.8% surge since the beginning of the year, reaching 21.4 trillion rubles. Corporate deposits also saw positive trends, rising by 4% monthly and a substantial 25.6% annually, amounting to 11 trillion rubles.
The bank's customer base demonstrated growth throughout the year, with the number of retail customers increasing by 1.9mn people, reaching a total of 108.3mn individuals. Furthermore, the active corporate client base amounted to 3.2mn companies, indicating a solid presence in the market. The bank's diversified performance across retail and corporate sectors reflects its ongoing significance and influence in the financial landscape.
72 RUSSIA Country Report February 2024 www.intellinews.com