OREANDA-NEWS. Assets increased by 1.0% in July to reach RUB20.7 trln driven by positive revaluation of FX component due to ruble devaluation.

The Bank lent about RUB520 bln to corporate clients in July. Loan issues from the beginning of the year exceeded RUB2.8 trln. For the first time since the beginning of the year the volume of new monthly issues exceeded the volume of redemptions.  Total corporate loan portfolio in July increased by RUB303 bln, or by 2.8%, to RUB11.2 trln.   

The Bank continues to grow its retail lending volumes. The Bank lent over RUB120 bn to retail clients in July, from the beginning of the year was over RUB640 bln. Total retail loan portfolio increased by RUB25 bln, or 0.6%, in July to reach the level of the beginning of the year, RUB4.07 trln. The share of mortgages continues to increase to reach 51.5%.

Overdue loans increased by 0.2p.p. to 3.04% of total loans in July. Nonetheless the level of overdue loans at Sberbank is half the level of the banking sector's average.

Securities portfolio was down by RUB26 bn in July, or by 1.5%, due to redemptions and repayments of OFZ bonds. The portfolio ending balance was RUB1.68 trln as of August 1, 2015.  

Retail deposits and accounts increased by RUB272 bn in July, or up by 3.0%. Overall retail deposits and accounts portfolio reached RUB9.4 trln as of August 1, 2015. Since the beginning of the year retail funds increased by RUB0.9 trln, or by 10.1%, while the portfolio was down by 0.4% during the same period last year.

Corporate funding increased by RUB192 bn in July, or by 3.8%, due to term deposits. Overall corporate clients' funding reached RUB5.2 trln as of August 1, 2015.

Inflow of clients' funding allowed the Bank to optimize its funding structure and lower the average cost of funding sources by means of reducing the volume of the CBR funding. The share of the CBR funding (excluding the subordinated loan) in the Bank liabilities was down to 7.9% in July from 8.3% a month earlier.

Core Tier 1 and Tier 1 capital (equal since Sberbank does not have instruments of additional capital) reached RUB1,708 bn as of August 1, 2015 under preliminary calculations. Total capital amounted to RUB2,531 bn on the same date, up by RUB10 bn in July due to net profit.

Risk-weighted assets increased by RUB912 bn in July mainly due to higher FX rates applicable to FX denominated assets since July 1, 2015 in accordance with the Central Bank letter #211-T on forbearance measures.