The head of Sberbank, German Gref, for the first time since the beginning of the February events, revealed the profitability of a credit institution, in the first ten months it exceeded 50 billion rubles. Thus, the bank’s net profit decreased approximately 20 times compared to 2021.

Gref, for the first time since the beginning of the crisis, revealed the financial performance of Sberbank

During a speech at the Finopolis forum, Gref said that the bank was able to resolve the situation with the quality of the loan portfolio, the share of overdue debt in loans was lower than at the end of 2021 (2.2% of the portfolio ). According to him, in October the bank was able to earn 122.8 billion rubles.

“Business is showing good growth: the retail portfolio has added 9% since the beginning of the year, the corporate portfolio has grown 11.9% excluding currency revaluation. The monthly volume of loans issued has returned to the pre-crisis level of the second half of 2021,” Gref said, quoted by RBC.

He also noted that the bank continues to operate without using the concessions that the Bank of Russia offers to credit institutions. In addition, Gref committed to disclosing financial indicators every month.

“We have around 2 million retail shareholders and their number is growing. It is important for us that investors have the opportunity to appreciate our business,” explained the chairman of the board of Sberbank.

According to the first deputy chairman of the Bank of Russia, Dmitry Tulin, the losses of Russian banks in the first half of 2022 amounted to 1.5 trillion rubles.


Natalia Gormaleva

Source: RB

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I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.


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