The savings Bank has lost 24% of net profit

In the first half of 2020, the net profit of Sberbank according to Russian accounting standards (RAS) was less than what was recorded in the same period last year by 24%, amounting to 337,5 billion rubles.

In the report, the Bank said that “the low consumption at the income tax, as in may, due to a down system of its calculation and the negative influence of changes in exchange rates on the tax base of the first quarter”.

In the banking report also shows an increase in operating expenses in the first half by 4.6% to 287,6 billion RUB spending Growth in June, 11.9% in the Bank called “one-time effect related to the resumption of business activity”. However, Sberbank noted that in respect of cost to income for the first six months showing positive dynamics of 28.1% versus 31.7% in 2019.

Recall previously the Bank has introduced a series of unpopular among the population commissions. In particular, the Bank canceled the free limit on the money transfers through ATMs since the beginning of summer for the transfer of any amount with them to pay 1%. At the end of March, the Bank said that all transactions inside the financial institution in excess of 50 thousand rubles for individuals be paid. The Central Bank, such measures were groundless.

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