In 2024, Sberbank will pay about 1.2 trillion rubles in taxes and dividends to Russia, which will be a record amount for a credit institution (for comparison, in 2023, Sber transferred 750 billion rubles in dividends to the state). This was announced by the head of the bank, German Gref, during a meeting with President Vladimir Putin.
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The banker noted that the Russian economy is growing faster than analysts had predicted. According to Gref, Sberbank expects GDP to grow by 3.8% by the end of the year.
In addition, the head of the credit institution says that in the first six months of 2024, salaries in Russia increased by more than 8%, and personal income growth is about 6%. Due to this, Sber notes increased demand for credit services and has already significantly exceeded loan portfolio growth forecasts.
Despite the increase in the official interest rate, the credit institution earned 769 billion rubles in the first six months according to Russian accounting standards and “slightly more” according to international ones.
Gref estimated the return on equity: it is now 22.9%. Sberbank also has a growing number of active clients among legal entities and individuals, and in the first half of the year the bank’s loan portfolio increased by about 6%, to almost 11 trillion rubles.
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On September 13, the central bank raised the key rate to 19% per year. The decision was due to rising inflation and consumer demand. Annual inflation by the end of this year is likely to exceed the July forecast range of 6.5% to 7%, the regulator said.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
