Sberbank reported a net profit of 350.2 billion rubles under Russian Financial Reporting Standards, with March bringing 125.3 billion rubles of earnings. This surge in quarterly performance coincided with a robust lending push that saw the bank extend more than 660 billion rubles in new loans to individuals in March — a milestone in the bank’s history and a clear sign of growing customer demand for credit.
On the income side, the bank highlights that while maintaining strong portfolio quality, it issued over 660 billion rubles in new loans to corporate clients. The result was a first-quarter profit exceeding 125 billion rubles, contributing to a quarterly return on equity of around 24 percent. This profitability metric underlines Sberbank’s ability to translate loan growth into meaningful earnings while managing risk tightly.
Since the start of the year, the personal loan portfolio has expanded by 4.7 percent, surpassing 12.6 trillion rubles. In March alone, this segment grew by 2.3 percent, reflecting sustained demand from households for consumer finance and mortgage products as interest conditions evolved.
The corporate lending book has also expanded, rising by 4 percent since January and crossing the 19.5 trillion ruble mark. In March, companies drew 1.4 trillion rubles in new credit, marking a 1.6 percent month-on-month increase compared with February. This pattern shows continued corporate activity and demand for working capital and investment financing.
For the January–March period, net interest income reached 517.1 billion rubles, up 22.4 percent. In March, the figure rose by more than one-third to 32.9 percent year over year, a rise the bank attributes to higher client funds costs in March of the previous year following an increase in the central bank’s key rate. This dynamic highlights the sensitivity of net interest income to rate moves and fund pricing in a changing macro environment.
The bank announced that the number of individual customers surpassed 106.2 million, while the corporate client base exceeded 3 million in the first quarter. Sberbank emphasized that these outcomes were achieved without relying on concessions from the central bank, signaling a disciplined, self-funded growth trajectory and a focus on core banking activities and prudent balance-sheet management.