![]() The bank's net interest margin climbed to 5.78% as borrowing rates normalised. Sberbank said first-quarter net interest income rose year-on-year to 562.8 billion roubles and net commission income for the quarter declined to 171.1 billion roubles on the back of the flurry of transactions in the same period last year. It also raised expectations for its net commission income growth to more than 12% from higher than 10%, and improved forecasts for loan portfolio growth.įinancial chief Taras Skvortsov said there was a high likelihood that Sberbank's profits this year would exceed the record 1.25 trillion roubles hit "pre-crisis" in 2021. The bank had previously expected ROE of around 20%. ![]() "The strong results of the first quarter, the resilient quality of the loan portfolio and high operational efficiency give grounds for an increase in our return on equity (ROE) forecast for 2023 to above 22%," Gref said in a statement. Sberbank, whose profits slumped almost 80% last year, did not provide a comparison with the year-ago period for most figures, but CEO German Gref said profits hit a record for the quarter. The central bank ordered Russian banks to limit disclosures soon after Moscow despatched troops to Ukraine in February 2022 and sweeping Western sanctions rattled Russia's financial sector. ![]() MOSCOW, May 18 (Reuters) - Russia's largest lender Sberbank (SBER.MM) on Thursday reported record first-quarter net profit of 357.2 billion roubles ($4.6 billion) and raised forecasts for several indicators, keeping the bank on course to rebound sharply from a difficult 2022. ![]()
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