By Anthony O. Goriainoff


Sberbank Rossia said on Friday that net profit and total assets for 2021 rose.

The Russian bank said that net profit was 1.237 trillion Russian rubles ($16.174 billion).

Sberbank said pretax net profit came in at RUB1.53 trillion and that net interest income increased 12% on year to RUB1.618 trillion, led by its loan portfolio expansion.

Total assets increased by 15% over the period to RUB38 trillion, the bank said.

The lender said its corporate loan portfolio grew by 11% in the year, with the retail loan portfolio growing by 26% and that this was mainly driven by mortgage growth.

"State subsidies and our own subsidized programs notably boosted affordability of mortgages and led to a record growth of the mortgage portfolio by 29%," it said.


Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com


(END) Dow Jones Newswires

01-14-22 0304ET