Banking Portfolio Growth and Outlook for Sberbank in 2024
Sberbank reported that its corporate loan portfolio rose by 1.5% in the month, reaching 23.8 trillion rubles. This update was shared by Alexander Vedyakhin, First Deputy Chairman of the Board, who cited RAS data for April 2024.
Vedyakhin noted a record pace of new loan issuances in May compared with the start of the year. He underscored expectations for stable growth in the loan portfolio and indicated that the exact figures would be provided with the upcoming RAS release on June 11.
According to the executive, the portfolio has expanded by 2.0% since the beginning of January. He pointed to positive momentum among corporate clients in March and observed that Sberbank tends to issue the bulk of its loans in the second half of the year, a pattern he described as seasonal.
He added that with ample capital, the bank can support large projects while continuing to serve as a primary reference bank for small and medium-sized business clients. The bank’s forecast for the corporate credit market in 2024 sits in the 12-15% range, with growth expected to happen across sectors. Any early-year slowdown in the first quarter is anticipated to be offset in the remainder of the year, according to the First Vice Chairman of Sberbank’s board.
On the funding side, funds from legal entities stood at 12.3 trillion rubles and grew by 7.7% during the month, driven mainly by higher balances in fixed-term accounts. Since the start of the year, funds from legal entities have increased by 13.2%, and Sberbank anticipates further positive dynamics from this sector [RAS data, April 2024].