OREANDA-NEWS. Sberbank has released its interim condensed consolidated IFRS financial statements as at and for the 9 months ended 30 September 2016, with review report by AO PricewaterhouseCoopers Audit.

Alexander Morozov, Deputy Chairman of the Executive Board, CFO, commented: “Our results continued the positive trend set in the previous two quarters driven by strong net interest income, stable asset quality and good cost control. Our improved performance for 9M 2016 establishes a strong foundation for our team to continue delivering good results. ”

The 3Q 2016 Financial Highlights:

    The Group net profit reached RUB137.0 bn, or RUB6.36 per ordinary share, up by 110.4% compared to 3Q 2015. Normalized net profit in 3Q 2016 excluding the one-off sales gain of the Sberbank Slovensko a.s. business would have been RUB134.0 bn, which compares to normalized 2Q 2016 net profit of RUB133.2 bn excluding the one-off sales gain of NP JSC Krasnaya Polyana
    The Group quarterly annualized return on equity (ROE) reached 20.5%, up from 11.8% in 3Q 2015
    The quarterly Cost of Risk (CoR) came at 213 bp, compared to 279 bp for 3Q 2015
    The Group Cost-to-Income ratio improved to 37.3% from 39.5% in 3Q 2015
    The level of non-performing loans (NPLs) of total loan portfolio came flat at 4.9% from a quarter ago, while coverage level of NPLs improved to 142% from 134% during the quarter
    The Group capital position improved during the quarter, with core capital adequacy ratio under Basel I up by 80 basis points to 11.2%, while total capital adequacy ratio reached 14.9%, up by 80 basis points during the quarter