In July, Sberbank earned 65.6 billion RUB of net profit. This is the best result for the last five months, but it is noticeably behind last year. A significant proportion of revenues brought to credit portfolio growth which was caused by the extension of preferential programs for business and private individuals. Experts attribute the further growth of financial indicators with retail lending, primarily mortgages, whereas from the corporate sector demand for credit will remain low.Over the past month net profit of Sberbank amounted to 65.6 billion rubles, 15% lower than last year. However, it is the best financial result in the period of the pandemic. Overall, for seven months the net profit of Sberbank amounted to 403,1 billion rubles, which is 22.4% less than last year. Largely the high result was provided by growth of net interest and Commission income (16% to 46.7 billion rubles), and currency revaluation (four times to 41 billion rubles).So, in July the Bank issued corporate customers 0.9 trillion rubles of credits that has led to the growth of the loan portfolio by 0.9% to 14.4 trillion In the previous three months, the corporate portfolio of the savings Bank were steadily decreasing. Retail Bank customers for the previous month issued a record amount of loans — to 384 billion rubles, or 1.4 times more than last July. The growth of consumer and mortgage loans (190 bn). As a result, the portfolio reached 7.7 trillion for the month, gaining 1.8 per cent.In particular, in the framework launched in June, the state program of preferential crediting under 2%, the Bank approved bids at the amount of 207 billion rubles. in addition, increased demand for loans contributed to the overall decline in interest rates. Financial Director of the savings Bank Alexander Buriko notes that “the volume of restructured loans has increased slightly, as the main thread of the applications were discussed in previous months.”However, the Bank continue to “carefully monitor the quality of loan portfolio,” said Mrs. Burica. The Bank continues to build reserves for loan portfolio. In July they increased by 55 billion rubles and reached almost 1.5 trillion rubles a Significant impact on the costs of reserves was provided by the weakening of the ruble against the major currencies, which led to dosoznanie reserves on foreign currency loans of the order of 28 billion rubles., without compromising the quality on them, noted in the Bank. However, this was offset by the revaluation in the trading income. Overall, for seven months of the current year the cost of credit risk amounted to RUB 409.4 billion rubles Is 7.8 times more than in seven months of last year. The share of overdue debt in the loan portfolio increased from 2.2% to 3.3% mainly due to corporate loan portfolio. “This is due to the macroeconomic shock in the current year panemia COVID-19″— explains Sberbank.Some increase in economic activity in July was predictable, but “this is fragile and unsustainable trend — the situation and prospects for consumer demand remain weak,” said the Vice-President of Moody’s investors service Olga Ulyanova. “Fundamental demand for new lending from the corporate sector are not observed, companies still deal with the current debt. But, perhaps, Sberbank also sees the demand for acreditava from large strategically important enterprises,” she said.The growth of financial indicators of the Bank is that after several months of isolation, when business activity was declining, its growth began, with many companies even if you have money set aside financial operations until, until lifted, said the head of analytical Department AMarkets Artem Deev. “Stabilization in the credit market linked to the support measures provided by government to businesses and households. However, it will take some time for the indicators returned to normal and began to return to pre-crisis marks,”— said the expert. The growth of loan portfolios due to the desire of Russian families to improve their living conditions: the country has a program of preferential lending, but because it will last until November, people try to have time to collect the papers and arrange a mortgage. Whether to continue further growth will depend on state decisions about the further extension of the program, concludes Artem Deev.Polina Trifonova
