Sber has earned almost 500 billion rubles since the beginning of the year 12:15

Sber’s net profit according to Russian accounting standards (RAS) in the January-April period increased by 5.1% compared to the same period last year and amounted to 495.1 billion rubles. Such data is presented in the published financial report of the bank.

In April, Sber made a net profit of 131.1 billion rubles. At the same time, return on equity was 23.6%.

The personal loan portfolio has increased by 3.4% since the beginning of the year, reaching 16.1 trillion rubles. In April, the bank gave loans of 565 billion rubles to private clients. Sber’s total loan portfolio reached 39.9 trillion rubles.

According to the President and Chairman of the Board of Directors of Sberbank German Gref, high activity of both corporate and individual customers led to an increase in the total loan portfolio by 1.4% during the month.

“Raising funds also shows good dynamics: in April, funds from individuals increased by 2%,” added the head of Sberbank.

Retail funds reached 23.7 trillion rubles and increased by 4.5% since the beginning of the year due to the flow of funds into term deposits. Funds from legal entities reached 12.3 trillion rubles and increased by 7.7% during the month, driven by the increase in term account balances. According to the report, funds from legal entities have increased by 13.2% since the beginning of the year.

Return on equity (ROE) has been 22.4% since the beginning of the year and 23.6% in April.

“At the beginning of April, we made a radical update to our SberSpasibo loyalty program, which has become more profitable for customers. In addition, the loyalty program has been integrated into our SberPrime subscription and subscribers who already have 11.3 million subscribers will benefit from additional benefits,” said German Gref.

Sergei Suverov, investment strategist at Arikapital Management Company and associate professor at the Financial University of the Government of the Russian Federation, stated that Sberbank broke new profit records despite the Central Bank’s high interest rates and strict regulations.

The expert noted effective management and active use of new technologies, including artificial intelligence, as drivers of profit growth.

“Clients highly value Sber’s professionalism and remain extremely loyal. We also note that the consistent dividend policy means that dividends for 2024 will most likely exceed the already record figures for 2023,” he concluded.

Let us recall that earlier the Sber supervisory board proposed paying dividends to shareholders in the amount of 752 billion rubles or 33.3 rubles per share based on the results of 2023.