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ER - Sberbank: SberBank selected RAS highlights for 11M 2022

Company: Sberbank Date: 2022-12-08 Language: English Register to download
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Sberbank (SBER)  

Sberbank: SberBank selected RAS highlights for 11M 2022  

  

08-Dec-2022 / 09:35 MSK  

Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group.  

The issuer is solely responsible for the content of this announcement.  

  

- - -

**SberBank selected RAS highlights for 11M 2022**  

*The results in this press release are calculated in accordance with SberBank\`s internal methodology*  

*December 8, Moscow*  

  

Herman Gref, Chairman of the Executive Board, CEO, stated:  

  

*“In November we earned RUB124.7 bn net profit, which was comparable to the results of the previous month. Additionally, our loan portfolio rose by 1.4% to exceed RUB30 trn. As for 11M22, Sber’s net profit reached RUB174.8 bn. Our traditional campaign, Sber Green Day, which coincided with Sber’s birthday celebration, made a considerable contribution to our results. The campaign has become popular among our clients; the sales volume of retail and corporate products exceeded the 2021 campaign”.*  

  

**Client activity metrics**1

|     |     |     |
| --- | --- | --- |
| **106.4** **mn** | **5.4** **mn** | **3.0** **mn** |
| \+ 2.6 mn in 11M22 | \+ 1.2 mn in 11M22 | \+ 0.1 mn in 11M22 |
| Active retail clients | SberPrime subscribers | Active corporate clients |

  

Number of retail clients reached 106.4 mn people, while the number of corporate clients exceeded 3 mn companies.  

Clients activity and engagement in digital channels remained high: DAU/MAU of SberBank Online was over 50%.  

Number of SberPrime subscribers increased by 0.3 mn in November, or by 1.2 mn in 11M22 to 5.4 mn.  

Number of SberSpasibo loyalty program clients increased by 0.8 mn in November, or by 8.9 mn in 11M22 to 65.4 mn users.  

  

**Green Day at Sber**  

  

  

Sber held its traditional Green Day in the middle of November, when every client could take advantage of exclusive deals and discounts from Sber and Sber partners. The number of the latter climbed over 170.  

  

  

  

  

 

|     |     |     |     |
| --- | --- | --- | --- |
| **37%** | **\>1** **mn** | **67%** | **х5** |
| Higher growth in consumer unsecured loan originations, as compared to last year’s campaign | Number of consumer unsecured loan applications received during the campaign | More credit SberCard applications, as compared to last year’s campaign | More SberPrime+ annual subscriptions purchased than during a regular day |

 

|     |     |     |     |
| --- | --- | --- | --- |
| RUB bn, unless stated otherwise | November   <br><br>2022 | *Nov / Oct 2022 change, % 2* | *Nov  22 / Dec 21 change, % 2* |
| Loans before provisions to corporate clients | 18 199 | *1.1%* | *13.1%* |
| Loans before provisions to retail clients | 11 842 | *1.8%* | *11.0%* |
| Corporate deposits | 8 438 | *\-2.7%* | *0.7%* |
| Retail deposits | 16 769 | *0.6%* | *0.8%* |

  

  

Retail loan portfolio rose by 1.8% in November, or 11% in 11M22, to RUB11.8 trn, driven by strong dynamics in the mortgage portfolio (+17.3% in 11M22, including the securitization portfolio) and credit cards (+26.8%).  

Mortgage originations from the beginning of the year were over RUB2.1 trn.

-   In November, Sber was nominated Best in the Digital mortgage service category, according to Frank RG research.

Positive dynamics in consumer lending became noticeable starting from the end of 2Q22 on the back of declining interest rates in the economy. Consumer unsecured loan originations remained strong, in part, thanks to special offers during the Sber Green Day, such as

-   a consumer unsecured loan at a record low annual rate of 4% in the first month of a loan, or
-   a consumer unsecured loan for SberPrime+ subscribers with a 1.5% cashback of the loan rate in SberSpasibo loyalty program bonuses.

Total corporate loan portfolio increased by 1.1%2 in November, or more than 13%2 in 11M22 to RUB18.2 trn.  

Loan portfolio asset quality remained stable. The share of overdue loans in total loan portfolio changed immaterially to 2.3%.  

Retail client funding reached RUB16.8 trn, up by 0.6%2 in November, or by 0.8%2 in 11M22, to a large extent thanks to this autumn's promos, such as a three-year Best Interest at 9.5% p.a. in Roubles.  

Corporate client funding decreased by 2.7%2 in November to RUB8.4 trn, while adding 0.7%2 in 11M22.  

  

  

**Key Ratios in November 2022**

|     |     |     |
| --- | --- | --- |
| **4.0%** | **0.8%** | **27.1%** |
| Return on Assets | Cost of Risk3 | Cost-to-Income Ratio |

|     |     |     |     |     |
| --- | --- | --- | --- | --- |
| RUB bn, unless stated otherwise | November  2022 | 11М  <br><br>2022 | *Nov**22/* *Nov* *2021* *change, %* | *11М22/ 11М21 change, %* |
| Net interest income | 159.1 | 1 524.4 | *12**.**8**%* | *3.7%* |
| Net fee and commission income | 57.0 | 547.3 | *16.0%* | *5.1%* |
| Operating expenses | \-64.3 | \-589.8 | *\-**0.1%* | *\-3.9%* |
| Net profit before income tax expense | 154.2 | 215.7 | *23.1%* | *\-84.8%* |
| **Net profit** | 124.7 | 174.8 | *22.7%* | *\-84.8%* |

  

 

  

Net interest income growth accelerated to 12.8% y-o-y in November 2022 to RUB159.1 bn, or by 3.7% y-o-y for 11M22 on the back of working assets increase and normalization in funding rates.  

Net fee and commission income increased by 16% y-o-y in November 2022 to RUB57.0 bn, or by 5.1% y-o-y for 11M22 to RUB547.3 bn.  

Total volume of transfers, payments and acquiring increased by 22% y-o-y during 11M22.

-   Sber is ranked third among the world’s largest 150 acquirers, according to the Nilson Report.

Cost of Risk in November changed immaterially to 0.8%. In the beginning of the year, the Bank booked sizable provisions against the materialized risks.  

Operating expenses in November 2022 declined y-o-y  to RUB64.3 bn. The cost optimization program lowered expenses by 3.9% y-o-y for 11M22.  

Net profit in November 2022 reached RUB124.7 bn, up by 22.7% y-o-y, while for 11M22 amounted to RUB174.8 bn.  

Such results were achieved without applying the Central Bank’s forbearance measures that were available to Russian financial institutions, including predetermined foreign exchange rate and revaluation price of securities, lower provisioning against certain companies and other.   

The total capital adequacy ratio increased in November. Sberbank PJSC exceeds all management buffers to capital adequacy ratios that were set by the Supervisory Board in December 2021.  

  

  

*1* *management accounts  

2 excluding the effect from FX revaluation  

3 Cost of Risk excludes the effect from FX revaluation*  

  

\# # #  

  

  

Пресс-служба  

[media@sberbank.ru](mailto:media@sberbank.ru)  

  

**ПАО Сбербанк** — один из крупнейших банков в России и один из ведущих глобальных финансовых институтов. На долю Сбербанка приходится около трети активов всего российского банковского сектора. Сбербанк является ключевым кредитором для национальной экономики и занимает одну из крупнейших долей на рынке вкладов. Основным акционером ПАО Сбербанк является Российская Федерация в лице Министерства финансов Российской Федерации, владеющая 50% уставного капитала ПАО Сбербанк плюс 1 голосующая акция. Оставшимися 50% минус 1 голосующая акция от уставного капитала банка владеют российские и международные инвесторы. Банк располагает обширной филиальной сетью в России: около 14 тысяч точек обслуживания. Генеральная лицензия Банка России на осуществление банковских операций № 1481 от 11.08.2015. Официальные сайты банка: [www.sberbank.com](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=f3404b78992d31b00b8d7a87b51a05ec&application_id=1507821&site_id=fca&application_name=news) (сайт Группы Сбербанк), [www.sberbank.ru](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=378682496d93ad736271d8948eaf036a&application_id=1507821&site_id=fca&application_name=news).  

  

**Disclaimer**  

This document has been prepared by Sberbank of Russia (the “Bank”) and has not been independently verified. This press release does not constitute or form part or all of, and should not be construed as, any offer of, or any invitation to sell or issue, or any solicitation of any offer to purchase, subscribe for, underwrite or otherwise acquire, or a recommendation regarding, any shares or other securities representing shares in, or any other securities of the Bank, or any member of the Bank’s group, nor shall it or any part of it nor the fact of its presentation or distribution form the basis of, or be relied on in connection with, any contract or any commitment whatsoever or any investment decision. The information in this press release is confidential and is being provided to you solely for your information and may not be reproduced, retransmitted or further distributed to any other person or published, in whole or in part, for any purpose.  

The information in this press release or in oral statements of the management of the Bank may include forward-looking statements. Forward-looking statements include all matters that are not historical facts, statements regarding the Bank’s intentions, beliefs or current expectations concerning, among other things, the Bank’s results of operations, financial condition, liquidity, prospects, growth, targets, strategies, and the industry in which the Bank operates. By their nature, forward-looking statements involve risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. The Bank cautions you that forward-looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which the Bank operates may differ materially from those made in or suggested by the forward looking statements contained in this press release or in oral statements of the management of the Bank. In addition, even if the Bank’s results of operations, financial condition and liquidity and the development of the industry in which the Bank operates are consistent with forward-looking statements contained in this press release or made in oral statements, those results or developments may not be indicative of results or developments in future periods.  

Sberbank assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.  

The information and opinions contained in this press release or in oral statements of the management of the Bank are provided as at the date of this press release or as at the other date if indicated and are subject to change without notice.  

No reliance may be placed for any purpose whatsoever on the information contained in this press release or oral statements of the management of the Bank or on assumptions made as to its completeness.  

No representation or warranty, express or implied, is given by the Bank, its subsidiaries or any of their respective advisers, officers, employees or agents, as to the accuracy of the information or opinions or for any loss howsoever arising, directly or indirectly, from any use of this press release or its contents.  

This press release is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.  

By attending or reviewing this press release, you acknowledge and agree to be bound by the foregoing.  

   

  

 

  

- - -

|     |     |
| --- | --- |
|     |     |
| ISIN: | US80585Y3080, RU0009029540, RU0009029557, US80585Y4070 |
| Category Code: | MSCM |
| TIDM: | SBER |
| LEI Code: | 549300WE6TAF5EEWQS81 |
| Sequence No.: | 207006 |
| EQS News ID: | 1507821 |

  

|     |     |
| --- | --- |
|     |     |
| End of Announcement | EQS News Service |

- - -

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