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Sberbank posts 21.6% YOY rise in Q4'17 profit

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Sberbank posts 21.6% YOY rise in Q4'17 profit

PAO Sberbank of Russia reported fourth-quarter 2017 group net profit of 172.4 billion Russian rubles, up 21.6% from 141.8 billion rubles in the year-ago period.

EPS rose to 8.10 rubles from 6.54 rubles a year earlier. Return on equity ticked up to 20.6% from 20.4%.

Net interest income for the quarter amounted to 382.9 billion rubles, up from the year-ago 355.2 billion rubles, while the net interest margin was unchanged year over year at 6.1%. Net fee and commission income rose over the same period to 118.0 billion rubles from 97.4 billion rubles.

Net provision charge for impairment of debt financial assets rose 20.6% on a yearly basis to 72.7 billion rubles from 60.3 billion rubles.

For full-year 2017, Sberbank reported a 38.2% increase in group net profit to 748.7 billion rubles, or 34.58 rubles per share, from the year-ago 541.9 billion rubles, or 25.00 rubles per share.

The bank's nonperforming loan ratio stood at 4.2% at 2017-end, compared to 4.6% at the end of September 2017 and 4.4% at 2016-end. The NPL coverage ratio stood at 167.8% at 2017-end, compared to 157.2% at the end of September 2017 and 157.3% a year ago.

The group's common equity Tier 1 ratio under Basel III standards reached 11.4% by 2017-end, compared to 11.0% at the end of September 2017 and 10.2% a year ago. The total capital ratio also improved to 13.0% at 2017-end from 12.7% at the end of September 2017 and 12.0% at 2016-end.

As of Feb. 27, US$1 was equivalent to 56.24 Russian rubles.