OREANDA-NEWS. June 06, 2011. Net profit of Sberbank Group in accordance with IFRS for 2010 reached RUB181.6bn, exceeding net profit for 2009 (RUB24.4bn) more than 7 times. EBITDA was RUB230.2bn and RUB29.9bn, respectively, reported the press-centre of Sberbank.

In 2010, net interest income reached RUB495.8bn (RUB502.7bn in 2009), while net fee and commission income of the Group grew 22.3% to RUB123.6bn.

Total comprehensive income of Group in accordance with IFRS for 2010 reached RUB206.6bn, 5 times exceeding the results of the previous year.

The Bank’s assets for 2010 grew 20.1% to RUB8,523bn, attributed mainly by growth in the securities portfolio and client loans, both corporate and retail.

The Bank’s outstanding corporate loan portfolio for 2010 increased by more than RUB500bn and reached RUB4,766bn. The Bank succeeded in nearly doubling the portfolio rates (to 12.2%, against 6.7% in 2009), despite a large volume of advanced repayments in the beginning of 2010, and measures aimed at raising the loan portfolio quality, such as sales of distressed assets.

Retail loan portfolio of the Bank increased 11.3% to RUB1,301bn in 2010 compared to a decline of 6.9% in 2009, achieved mainly from targeted actions of the Bank to create favorable borrowing conditions, such as offering attractive loan terms to clients and cancelling commission on loans.

During the year, Sberbank allocated access liquidity in securities, diversifying its assets and revenues. The main investments were made in the most reliable and liquid State securities. According to the results of the year, the securities portfolio grew 1.7 times to RUB1,851bn.