Sberbank’s Assets Increased by 0.9% in November
Assets increased by 0.9% in November to RUB21.8 trln. Most notable was growth of corporate loans and the securities portfolio, while there was a decrease in funds placed with other commercial banks.
The Bank lent about RUB0.6 trln to corporate clients in November. Loan issues from the beginning of the year reached about RUB5.5 trln. Total corporate loan portfolio in November increased by RUB264 bn, or by 2.3%, to RUB11.8 trln.
The Bank lent about RUB110 bn to retail clients in November, from the beginning of the year was about RUB1.070 trln. Total retail loan portfolio increased by RUB11 bn, or 0.3%, in November to exceed RUB4.1 trln. The share of mortgages in total retail portfolio continued to increase to reach 53% as of December 1, 2015.
Overdue loans increased by 0.1p.p. to 3.4% of total loans in November. The level of overdue loans at Sberbank remains substantially lower than the level of the banking sector's average.
Securities portfolio was up by RUB173 bn in November, or by 9.4%, due to purchases of the Eurobonds of the Russian Federation and corporate bonds. The portfolio ending balance exceeded RUB2.0 trln as of December 1, 2015.
Retail deposits and accounts increased by RUB156 bn in November, or up by 1.6%, due to both deposits and savings certificates. Overall retail deposits and accounts portfolio reached about RUB10.0 trln as of December 1, 2015. Since the beginning of the year retail funds increased by RUB1.437 trln, or by 16.9%, whereas the portfolio was up by 3.5% during the same period last year.
Corporate funding increased by RUB351 bn in November, or by 5.9%, due to inflow of ruble funds from deposits and current accounts. Furthermore, ending balances in FX have decreased in November. Overall corporate clients' funding increased by RUB1.221 trln, or 24.1%, during 11M 2015 to RUB6.3 trln.
Significant inflow of ruble funding from clients in November allowed to reduce the volume of funds borrowed from the Central Bank. Their share (excluding the subordinated loan) in total liabilities fell to 2.7% in November from 3.9% (as of 1/1/2015 the share was 15.2%), which altogether allowed to lower the average cost of funding.
Core Tier 1 and Tier 1 capital (equal since Sberbank does not have instruments of additional capital) reached RUB1.774 trln as of December 1, 2015 under preliminary calculations. Total capital amounted to RUB2.642 trln on the same date, up by RUB19 bn in November primarily due to net profit.