OREANDA-NEWS. December 23, 2009. Sberbank has posted a 6.1x decline in RAS net profit to RUB 18.5 bn in January-November, the bank said in a press release. This amount is 6.1x lower than in RUB 113.2 bn in the year-earlier period. Earlier it was reported that in 10M 2009 the bank’s net profit came in at RUB 17.1 bn. Therefore, Sberbank generated RUB 1.4 bn in net profit in November.

NPLs (not including assignment agreements) accounted for 4.5% of the credit portfolio as of December 1 vs. 4.0% as of November 1. Sberbank’s provisioning rose to RUB 343.55 bn from RUB 305.04 bn in January-October. Therefore, in November the bank boosted provisioning expenses by 12.6%. In October, the lender ramped up these expenses by 8.17%. As of December 1, NPL reserves created by the bank are more than twice as much as overdue loans. Sberbank’s assets advanced 1.3% in 11M 2009 and as of December 1, 2009 amounted to RUB 6.8 tn.

The bank’s corporate loans rose 8.6% to RUB 4.32 tn. The bank’s corporate credit portfolio outpaces the market which helps the bank raise its market share, which rose from 30.5% to 32.5% last month. Corporate restructured credits with amended initial terms amounted to 15.5% in November vs. 12.4% in October. Retail lending portfolio shrank further, down 7.1% to RUB 1.16 tn. Meanwhile, the bank managed to retain the pace of decline of its retail portfolio. Private deposits extended gains, up 13.5% in 11M 2009 to RUB 3.54 tn. Sberbank’s equity (according to the CBR regulation #215P) grew 10.4% in January-November to RUB 855.95 bn. This metric climbed 0.7% last month. The lender maintained capital adequacy ratio at 23% in November.