Page 104 - RusRPTJan23

8.1.7 Banks specific issues
On December 15 the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) added 18 banks and credit institutions related to the Russian Federation’s financial services sector to the Specially Designated Nationals and Blocked Persons List (SDN List), OFAC said in a statement. “These designations, taken along with the Department of State, which is concurrently designating a prominent oligarch in Russia, his network, and more than 40 additional persons linked to the Government of the Russian Federal (GoR), are part of the US government’s efforts to further limit the GoR’s ability to fund its unconscionable war of choice against Ukraine. Today’s actions also broadly complement those of our international partners.”
The Bank of Russia has announced new measures to support banks facing asset freezes due to sanctions, teh CBR said on December 1. The regulator will provide them with a ten-year installment plan to create reserves for possible losses, follows from the message of the Central Bank. The Bank of Russia emphasises that the relief will only apply to completely blocked assets for which there are no alternative sources of compensation. Among them, in particular, correspondent accounts, interbank loans, other claims on foreign banks, loans and a number of other types of property.
8.1.8 Sberbank news
The net profit of Russia’s top bank Sberbank increased by 22.7% on the year to 124.7bn rubles in November, as calculated under Russian Accounting Standards (RAS), the bank said in a statement on December 9.
In January–November, the bank’s net profit plummeted by 84.8% on the year to 174.8bn rubles, according to the statement.
Individual client account balances with the bank rose by 0.6% in November and by 0.8% in January–November to 16.8 trillion rubles as of November 30.
Corporate client account balances with the bank fell by 2.7% in November and rose by 0.7% in January–November to 8.4 trillion rubles.
The bank’s retail loan portfolio increased by 1.8% in November and by 11% in January–November to 11.8 trillion rubles as of November 30.
The corporate loan portfolio rose by 1.1% in November and by 13% in January–November to 18.2 trillion rubles.
Sber published 11M22/ November RAS results in an abbreviated format
104 RUSSIA Country Report January 2023 www.intellinews.com