Page 134 - RusRPTApr23

fee and commission income increased by 15.4% to 697bn rubles ($9.2bn), where "income from bank cards operations as well as cash and settlement services were the main contributors." The operating expenses of the group for the reporting period decreased by 1.5% and amounted to 822bn rubles ($10.85bn). Cost-to-Income ratio reached 41.6%.
In 2022, total net provision charge against credit quality deterioration, including revaluation of loans at fair value, reached 555bn rubles ($7.32bn).
The bank’s retail loan portfolio reached 12.4 trillion rubles ($163.67bn), growing by 12.2% in FY 2022. The yield on retail loans increased by 64 bp y/y to 11.9%. The share of retail loan originations in digital channels surpassed 60% at the end of the year.
Retail funding reached 18.5 trillion rubles ($244.13bn), up by 7.4% adjusted for the impact of FX revaluation (nominal growth for 2022 was 5.9%). At the same time, corporate funding rose by 17.0% adjusted for the impact of FX revaluation (nominal growth for 2022 was 14.6%) to 11.4 trillion rubles (150.44bn).
Depending on the state of the economy, Sber's profit in 2023 may be on par with levels prior to the crisis, CEO Herman Gref said during a conference call with investors and analysts.
"The figures (for this year - TASS) will probably be very similar to what we made in the year prior to the crisis. We certainly hope so, despite the fact that disclaimers are necessary in today's world. Of course, everything will depend on how the economy is doing overall," Gref said.
He added that Sber maintains plans to reach the profitability of its ecosystem companies by 2030. According to him, the companies included in the Sber ecosystem ended 2022 with better-than-expected performance, but their contribution to the group's financial result was still negative.
Sber may return to considering paying dividends for 2022, CEO Herman Gref was quoted in the bank’s financial report.
"Our business model yet again passed the endurance test. As a result, we finished the year with net earnings of RUB270.5 bn. Total shareholder equity reached RUB5.8 trn, while CET1 capital ratio increased to 14.8%. Our earnings generation capacity allows us to revert to the topic of dividends for 2022," he said.
Last year, the annual meeting of the bank's shareholders decided not to pay dividends for 2021.
Russia’s Sberbank will send $3.6bn to the state coffers this spring as
134 RUSSIA Country Report Russia April 2023 www.intellinews.com