Sberbank, Russia’s largest bank by assets, has announced a net profit of RUB344bn ($11.3bn), up 11% year-on-year for the 12 months to end December 2012.
Net interest income in fiscal 2012 was RUB638bn, a rise of 23.3% year-on-year, with net fee and commission income up 12.3% to RUB194bn.
Cost to income ratio at Sberbank fell by 50 basis points from 46.2% to 45.7%.
The Russian lender’s retail loans soared by 42% year-on-year to RUB2.5trn.
Retail deposits rose by 17.4% year-on-year to RUB6.6trn from 5.6trn in 2011.
Sberbank ended 2012 with the following Russian banking sector market shares:
Total banking assets 29.0%
Total banking regulatory capital 27.8%
Retail deposits 45.4%
Corporate deposits 17.8%
Retail loans 32.8%
Corporate loans 33.4%
Sberbank’s total assets rose by 30% to RUB13.6trn from RUB10.4trn in 2011.
Since the beginning of 2012 Sberbank has shuttered 286 branches, leaving it with 219 full service branches now operating complemented by 18,000 sub-branches.