OREANDA-NEWS. Assets of Sberbank decreased by 1.7% in October to RUB21.6 trln driven by negative revaluation of FX component due to ruble appreciation relative to key hard currencies. Major contraction was in cash equivalents, funds placed with other banks and corporate loans.

The Bank lent over RUB0.7 trln to corporate clients in October. Loan issues from the beginning of the year reached about RUB5.0 trln. Total corporate loan portfolio in October decreased by RUB174 bn to RUB11.6 trln.   

The Bank lent over RUB105 bn to retail clients in October, from the beginning of the year was about RUB960 bn. Total retail loan portfolio increased by RUB10 bn, or 0.2%, in October to exceed RUB4.1 trln. The share of mortgages in total retail portfolio continued to increase to reach 52.7% as of November 1, 2015.

Overdue loans increased by 0.4p.p. to 3.3% of total loans in October affected by one large corporate loan in part becoming overdue (the Bank had already created provisions for it in the previous periods). The level of overdue loans at Sberbank remains substantially lower than the level of the banking sector's average.

Securities portfolio was up by RUB68 bn in October, or by 3.8%, due to purchases of state bonds (Eurobonds and OFZ bonds), corporate bonds and bonds of financial institutions. The portfolio ending balance was RUB1.8 trln as of November 1, 2015.  

Retail deposits and accounts increased by RUB30 bn in October, or up by 0.3% primarily due to savings certificates. Overall retail deposits and accounts portfolio reached RUB9.8 trln as of November 1, 2015. Since the beginning of the year retail funds increased by RUB1.281 trln, or by 15.1%, whereas the portfolio was up by 1.7% during the same period last year.

After a significant inflow in the past four months corporate funding decreased by RUB97 bn in October, or by 1.6%, due to outflow of ruble funds from deposits and current accounts. Overall corporate clients' funding increased by RUB869 bn, or 17.2%, during 10M 2015 to RUB5.9 trln.

Core Tier 1 and Tier 1 capital (equal since Sberbank does not have instruments of additional capital) reached RUB1,785 bn as of November 1, 2015 under preliminary calculations. Total capital amounted to RUB2,623 bn on the same date, up by RUB47 bn in October primarily due to October net profit and revaluation of securities.