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Sberbank's net profit exceeded analysts' forecasts

Sberbank's net profit exceeded analysts' forecasts
Photo: pixabay.com

Sberbank has published its financial results for 2020 under IFRS. Net profit exceeded 760,3 billion rubles.

According to the press service of Sberbank, the return on equity in 2020 was 16%. This was achieved through a large-scale cost optimization program. The return on assets was 2,3%. The group's loan portfolio also grew by 15%, exceeding the volume of 25 trillion rubles. In the structure of this asset, the retail lending portfolio has grown significantly - by 18% to 93 trillion rubles. In the field of corporate lending, an increase of 9,3% to 15,7 trillion rubles was also noted.

In 2020, the number of active individual clients increased by three million. The total number of clients was almost 99 million. Of these, 65,3 million people use the Sberbank Online application every month, which is 10,6 million more than in the previous year.

As the president and chairman of the board of Sberbank German Gref noted, in 202 Sberbank became an important participant in the fight against the pandemic. The company managed to organize anti-crisis headquarters in a short time and start supporting the population. In just a year, clients received 17,7 trillion in loans under their own programs and government support measures. This made it easier for many clients to go through difficult periods of the crisis.

Sberbank also disclosed for the first time information on the revenue of business segments that are part of the group's ecosystem. Non-financial businesses increased their revenues 2,7 times, the total volume for this indicator amounted to 71,4 billion rubles.

 

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