Net Profit for Five Months of Sberbank's

Thursday, June 7, 2012 Print Email

The most famous Russian bank that is leading all the big financial institutions of Russia has announced its financial statement. It has been stated that its profit has grown up to 13.1% in last 5 months of financial year. And this profit was attained by retailer clients and corporate societies. The bank’s financial statement and its all factors are calculated and prepared under the Russian standards and methods of accounting. The Russian accountancy methods and standards are slightly different fr om IFRS (international financial reporting standard). As IFRS has different methods, it calculates the fixed capital, assets and bookings.

The SBERBANK has reported the 6% increase in 1st quarterly period of profit that was counted through international standards that supports the bad debts charges deductions. When according the Russian standards the SBERBANK applied the rules for 5 months net profit till June is total 154.9 billion roubles. Last year in same months the amount of profit was approximately 136.9 billion. So it can be considered easily that this year the SBERBANK as exceeded the lim it of profit as compare to last year. 5.5 % cooperate landing was grown in last 5 months and retail landing was 20%. In May 2012, the loan profile was reported as to be improved but small in number. Total loan to 3.28% out of 3.34 % was declined as overdue in same financial period of previous year. 

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