Sberbank’s profit fell –

The bank said on Friday that according to the Russian Accounting Standard (RAS), the profit was 781 billion 600 million rubles ($ 10.63 billion, 1 ruble to 4.03 forints), 10.3 percent less than the 2019 billion 100 million at rubles. German Gref, head of Russia’s largest bank, had already indicated at the end of June that the target of $ 1,000 billion by 2020 would not be achieved due to the aftermath of the coronavirus epidemic. Sberbank’s profit last December was 11.8 percent higher than a year earlier and 62 , Amounted to 5 billion rubles.

Last year, the Russian bank’s net interest income rose 14.3 percent to 1,441 billion rubles, while premium income rose 8.4 percent to 509 billion rubles. Operating expenses increased by 0.5 per cent to 636 billion rubles. The amount set aside for bad loans last year was 541 billion rubles, 4.4 times that of 2019. Sberbank’s return on assets (ROA) was 2.6 per cent last year, return on equity (ROA) was ROE) was 16.5 percent.

Sberbank acquired Volksbank’s Eastern and Central European subsidiaries, including Magyarországi Volksbank Zrt., Which operates under the name Sberbank Magyarország Zrt. For nine years.

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Source: – Bank by

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