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SberBank selected RAS highlights for 10M 2022

Sberbank (SBER)
SberBank selected RAS highlights for 10M 2022
10-Nov-2022 / 10:19 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 10M 2022

November 10, 2022

Clients activity metrics1


106.0 mn

+ 2.2 mn in 10M22

Active retail clients


5.1 mn

+ 0.8 mn in 10M22

SberPrime subscribers


3.0 mn

+ 0.1% mn in 10M22

Active corporate clients


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

  • Number of retail clients reached 106 mn people, while the number of corporate clients exceeded       3 mn companies.

  • Client activity and engagement in digital channels remains high: DAU/ MAU of SberBank Online is at 50%, even when the service became unavailable in certain application stores.

  • The number of SberPrime subscribers increased by 0.8 mn in 10M22 to 5.1 mn. The SberPrime+ subscription was the main growth driver; the number of its subscribers increased more than threefold from the beginning of the year. The SberPrime+ subscription was recognized as the most valuable in Russia by services offered and client satisfaction.2

  • The number of SberSpasibo loyalty program clients increased by 8.1 mn in 10M22 to 64.6 mn users.


RUB bn, unless stated otherwise


Oct / Sep 2022 change, % 3

Oct 22 / Dec 21 change, % 3

Loans to corporate clients before provisions

17 988



Loans to retail clients before provisions

11 628



Corporate deposits

8 676



Retail deposits

16 660





  • The retail loan portfolio reached RUB11.6 trn, up by 9% in 10M22, driven by strong dynamics within the mortgage portfolio (+14.9%, including the securitization portfolio) and credit cards (+23.5%). The mortgage approval rate returned to the pre-crisis level.

  • Total mortgage production for 10M 2022 reached RUB1.9 trn. The mortgage demand remained stable on the back of declining loan rates on new originations, as well as thanks to different campaigns with developers and state subsidized programs.

  • The positive dynamics in consumer lending became noticeable starting from the end of 2Q22 on the back of declining interest rates in the economy. Total consumer unsecured loan production in October was RUB238 bn.

  • Total corporate loan portfolio added 11.9% 3 in 10M22 to RUB18.0 trn. Corporate loan production returned to the levels of 2H21.

  • The loan portfolio asset quality remained stable. The share of overdue loans in total loan portfolio was 2.2%, which was lower than the level at the end of last year.

  • Retail client funding reached RUB16.7 trn, up by 0.2% 3 in 10M22, to a large extent thanks to seasonal promos, including SberPrime Deposit at special rate, Best Interest, Favourable Timing. The share of foreign currency deposits for 10M22 was halved. The clients preferred to save in Roubles or foreign currencies of friendly jurisdictions.

  • Corporate client funding increased by 3.4% 3 for 10M22 to RUB8.7 trn. There was a shift away from funding in US dollars and Euros. During 10M22 their share in total corporate funding was 16%, down from 36% in the beginning of the year.

  • The share of assets in US dollars and Euros was reduced by almost half during 10M22. A higher share of Ruble assets reduces risks and is margin accretive.



Key Ratios for October 2022


3.9 %

on Assets



Cost of Risk4






RUB bn, unless stated otherwise



Oct22/ Oct21 change,%

10М22/ 10М21 change, %

Net interest income


1 365.3



Net fee and commission income





Operating expenses





Net profit before income tax expense





Net profit






  • Net interest income increased by 9.8% y-o-y

  • in October 2022 to RUB158.8 bn, or by 2.7% y-o-y for 10M22.

  • Net interest margin in July-October 2022 was higher than the 2021 average due to more favorable cost of funding on the back of improving interest rate environment and higher share of Ruble assets.

  • Net fee and commission income increased by 17.3% y-o-y in October 2022 to RUB56.8 bn, or by almost 4% y-o-y for 10M22 to RUB490 bn.

  • The total volume of transfers, payments and acquiring increased by 21% y-o-y during 10M22.

  • The Bank booked sizable provisions against the materialized risks in 1H22. Starting from 2H22 the provisioning level was comparable to the average pre-crisis levels.

  • Operating expenses in October 2022 remained stable y-o-y at RUB64.4 bn. The expenses for 10M22 were lowered by 4.4% y-o-y on the back of implemented cost optimization program.

  • The net profit in October 2022 reached RUB122.8 bn and exceeded RUB50 bn for 10M22.

  • 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.  

  • Sberbank PJSC exceeds all the management buffers to capital adequacy ratios that were set by the Supervisory Board in December 2021.


1 management accounts

2 based on Frank RG research

3 excluding the effect of FX revaluation
4 Cost of Risk excludes the effect of FX revaluation



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.


US80585Y3080, RU0009029540, RU0009029557, US80585Y4070

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