Sberbank Keeps up Active Lending to the Real Economy

Nov 19, 2008

Sberbank (RTS: SBER, MICEX: SBER03) announces that the growth in its corporate loan portfolio over 9m 2008 exceeded RUB650bn bringing the corporate loan portfolio to RUB3,600bn (compared to RUB3,300bn for 9m 2007). The figures for 9m 2008 are as follows:

  • Loans to the agricultural sector grew by — 51.5%
  • Construction projects financing grew by — 35.3%
  • Loans to the utilities sector grew by — 30.3%
  • Loans to the defence sector grew by — 31.1%
  • Loans to the manufacturing sector grew by — 29%
  • Loans to trade enterprises grew by — 17.4%
  • Loans for investment purposes grew by — 31% to exceed RUB1,000bn

Since the beginning of the year Sberbank has been actively lending to small businesses. Loans to small businesses grew by RUB166.6bn over 9m 2008 to exceed RUB600bn. The growth in loans to small businesses significantly (1.8 times) outpaced the growth in corporate loan portfolio increasing the share of loans to small business in the total loan portfolio from 14.2 to 16.2%.

Sberbank maintains lending activity in all regions of the Russian Federation. About 80% of loans were granted by Sberbank’s regional head offices to Russian companies operating in the regions.

Growth in loans to individuals over 9m 2008 amounted to RUB301.3bn, representing a 1.8 times increase year-on-year (compared to RUB169bn over 9m 2007) and bringing total loans outstanding to RUB672bn (a 1.4 times increase year-on-year). The growth in RUB-denominated loans to individuals exceeded RUB305bn, thereby partially replacing loans denominated in foreign currencies.

In September – October only, growth in Sberbank’s corporate loan book exceeded RUB150bn, growth in loans to individuals exceeded RUB50bn. Overall, in September – October the Bank’s loan portfolio gained more than RUB200bn.

To summarise the above, since the beginning of 2008 up to 01 November 2008:

  • Sberbank’s corporate loan book grew by more than RUB750bn (+24.4%) to exceed RUB3,800bn
  • Sberbank’s retail loan book grew by more than RUB320bn (+33.8%) to exceed RUB1,200bn
  • Sberbank’s aggregate loan book over 10m 2008 grew by more than RUB1,070bn (+26.63%) to exceed RUB5,000bn.