Page 135 - RusRPTApr23

part of a record dividend payout, even as its profits collapsed last year due to western sanctions imposed over Moscow’s invasion of Ukraine. This marked a record in terms of share of profit paid out. In previous years, the bank distributed just 40-56% of its profits to shareholders, whereas Friday’s recommendation equated to about 200% of the bank’s 2022 net profit of Rbs270.5bn. Though sanctions shredded profits last year, down 80% in 2022 compared to 2021, Sberbank still found itself in a position to make a major payout thanks to the “durability of the business”, chief executive Herman Gref said in a statement.
Sberbank’s payout was possible thanks to its record net profit in 2021, which on the recommendation of the central bank, it did not distribute as dividends last spring. At the time, authorities were scrambling to maintain the country’s financial stability in the wake of western sanctions.
8.1.8 Bank news
The United Kingdom, Germany, Italy, Canada, the United States, France and the European Commission agreed to impose new "tough financial sanctions" on Russia, including disconnecting some of its banks from the SWIFT system, German government spokesman Steffen Hebenstreit told reporters on March 22.
The net profit of Bank Saint Petersburg more than doubled to RUB47.5bn in 2022 from RUB18bn in 2021, as calculated under International Financial Reporting Standards (IFRS), the bank said on Thursday. The corporate portfolio grew by 9.6% to 415.2bn , the retail one by 5.3% to 139bn , mortgage loans increased by 9.5%.
The net profit of Credit Bank of Moscow slumped by 71.5% on the year to 7.467bn rubles in 2022, as calculated under International Financial Reporting Standards (IFRS), the bank said in a report on March 24. The net interest income fell by 22.08% to 62.013bn rubles. Operating income sank by 30.1% to 43.4bn rubles, while operating costs increased by 18.1% to 34.99bn rubles. The bank’s assets rose to 3.973 trillion rubles as of December 31 from 3.4195 trillion rubles as of December 31, 2021. Liabilities rose to 2.388 trillion rubles from 1.983 trillion rubles, respectively.
Austrian Raiffeisen Bank International (RBI) will seek to sell or spin off its Russian subsidiary (Raiffeisenbank), the bank said on March 30. In March, the European Central Bank demanded that the Austrian Raiffeisen Bank International withdraw from Russia. Shortly before this, in January, the US Office of Foreign Assets Control (oversees compliance with US sanctions) asked the bank for details of the payment business, as well as the transactions of certain Russian customers. According to FT sources , by February 2023, Raiffeisenbank served almost half of all external payments to Russia. In
135 RUSSIA Country Report Russia April 2023 www.intellinews.com