SberBank selected RAS highlights for 10M 2022

Billion RUB, unless otherwise specified



Change from October 22 to October 21, %

10М22/ 10М21 change, %

Net interest income





Net fee and commission income





Operating Expenses





Net profit before income tax expense





net profit





  • Net interest income increased 9.8% year-on-year
  • in October 2022 to 158.8 billion rubles, or 2.7% year-on-year for 10M22.
  • Net interest margin in July-October 2022 was above the 2021 average due to a more favorable cost of funding thanks to the improving interest rate environment and a higher asset share in rubles.
  • Net commission income increased 17.3% year-on-year in October 2022 to 56.8 billion rubles, or almost 4% year-on-year for 10M22 to 490 billion rubles.
  • The total volume of transfers, payments and acquisitions increased by 21% year-on-year during 10M22.
  • The Bank has made significant provisions against materialized risks in 1H22. From 2H22, the level of provisioning is comparable to the average levels before the crisis.
  • Operating expenses in October 2022 remained stable year-on-year at 64.4 billion rubles. Expenses for 10M22 were reduced by 4.4% year-over-year thanks to the implementation of a cost optimization program.
  • Net profit in October 2022 reached 122.8 billion rubles and exceeded 50 billion rubles for 10M22.
  • Such results were achieved without applying the Central Bank forbearance measures that were available to Russian financial institutions, including a predetermined exchange rate and securities revaluation price, lower provisioning against certain corporations and others.
  • Sberbank PJSC exceeds all management buffers against the capital adequacy ratios which were set by the supervisory board in December 2021.

1 management accounts

2 based on research by Frank RG

3 excluding effect of exchange rate revaluation
4 The cost of risk excludes the effect of currency revaluation


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